An appraiser from an agent and property valuation are two quite separate documents their design to do two different functions an appraiser permanent agent has its place obviously as a marketing tool and it enables the agent to then be able to sell the property on the basis of the appraisal.
However property valuation from a value it can be used to rely on in the case of secretary reporting requirements any legal requirements that need to be met
And it will hold weight as a document in a court situation the property valuation is also designed to provide you with what the actual sale price of the property would be based on the value.
As own investigations rather than an appraiser which may be the price that an agent would start marketing the property at an independent property valuation also gives you the peace of mind knowing that the valuation report has been carried out by a senior commercial property valuers who is able to research the sales evidence.
And provide you with the document which is completely independent and also enables you to make an informed decision on the basis of the information contained in the document a residential property valuation report typically provides URIs all the information.
That you’re probably already well aware of we look at things like construction type age of the home environment surrounding development accommodation standard of internal fixtures fittings.
And chattels special features any minor necessary repairs will also speak to the counts or to ascertain the current zoning of the property to see what effect that actually has on its development potential certified property valuers also provide a narrative general comment section.
But most importantly for the majority of our clients is the sales evidence section where property valuers provide a fairly comprehensive analysis of the most recent relevant sales which have occurred in the immediate locality.
And a value of comments about each of those properties in relation to your property from that analysis you can then understand how the residential property valuers has arrived at his assessment of value the methodology he’s used.
And the basis for the valuation a residential property will typically take between three and four working days from inspection to complete registered property valuers will need to arrange an appointment time to go through the property which may take anywhere from half an hour to one hour depending on the size age.
And location of the property from there the value licensed property valuers will need to inspect the sales evidence properties analyze the data write-up is report and then provide you with a bound document.
We can to expedite the process email you with an electronic copy and the original will follow in the mail we regularly carry out retrospective or backdated property valuations for our clients particularly the capital gains tax assessment.
But also for estate settlement for matrimonial disputes in these circumstances
qualified property valuers need to obtain information from our clients as to the condition or changes in the property subsequent to the relevant date any photographs or plans or written information.
You can provide us with our exceptionally helpful the valuable then inspect the property and based on the information provided by your property valuers will carry out evaluation at a back dated date property valuers look at sales of similar properties which occurred close to the relevant date.
And also make allowances for the condition of the market at that time all of that information is then documented in our report to provide you with a document which will stand up and be accepted by the ATO or any other government authority for any statutory reporting an insurance valuation is a report.
We look at things like replacement of driveways and letterboxes patios pergolas removal of debris in the case of catastrophe or demolition in the case of partial damage.
Professional property valuers also look at the cost of relocation any increases in building cost over the construction period any loss in rental income or the cost of finding alternative accommodation during that construction period the report is fairly comprehensive.
Which provides you with a costing not just of the replacement of the shell building but also other factors which recommended by both the Australian Insurance Council and the Australian Property Institute.
And each of those things is itemized within the body of the property valuation report so that you can then mix and match to your insurance policy to ensure that you are properly covered an appreciation property valuation is provided to our clients who then have a suitably qualified accounting professional undertake a depreciation schedule on the basis of the information government approved property valuer provide them.
With we look at what the construction cost was of the building at the date of construction and the cost of other items which can be depreciated within the home in the case of a home which is older and may have had been already been depreciated.
We can also provide you with the cost of items such as renovations or extensions which can be depreciated over the period of their life property valuers also look at the cost of replacement concerns such as hot water systems and air-conditioning units which may have some life left in them.
And government approved property valuers look at what the installation cost was of the item at the day that was placed into the home from there your accountant or another suitably qualified professional can prepare a depreciation schedule for the ATO on your behalf our values are not affiliated with any real estate agency or financial institution.
They are all members of the Australian property Institute which is the peak body for valuers throughout Australia they’re also licensed are registered in the relevant state in which they practice as those members of the Australian Property Institute.
And under their licensing or registration they need to adhere to a strict code of conduct and guidelines as well as legislative requirements in order to ensure that they are completely independent and that their opinion is based purely on the evidence that’s available and their analysis of that data.