Frequently Asked Questions:

What happens when I order a Valuation?
Your valuation instructions are forwarded to a Registered Valuer who will contact either yourself or the person able to let the Valuer into the property (often a Real Estate Agent) to make an appointment and inspect the property. 

How long will it take to complete the Valuation?
From the time of instruction until the completed report is ready, generally ranges from between 3 to 4 working days, depending on the availability of access into the property. 

Why does the Valuer need to inspect the interior of the property?
The Valuer cannot ascertain the internal condition of the dwelling without an internal inspection.  The internal condition of the dwelling is an important consideration when calculating Market Value. 

Who does my Valuation need to be addressed to?
This is dependent on what the Valuation is required for:
Finance/Mortgage Purposes:  addressed to the lender.
(i.e. bank or financial institution).
Matrimonial Purposes:  addressed to Solicitor.
Trust Purposes:       addressed to the Trust or Solicitor.
Sale Purposes:        addressed to the owner.
Tax Purposes:          addressed to accountant.

How much will the Valuation cost?
Starting from $400 excl. GST and increasing dependent on the value of the property and the complexity of the report required. 

What do I get for my money?
You will be provided with two copies of a 7-8 page report which will include:  The current market value calculation; (broken into land value, improvements value and total value excluding and including chattels), comprehensive detail of the property, comparable sales data from the surrounding locality, copies of the Certificate of Title and a colour photograph of the property. 

Why is a Mortgage Recommendation included on Valuations to be used for Mortgage Purposes?
The Valuers Institute requires that all valuations for mortgage purposes include a Mortgage Recommendation and this recommendation must not exceed 66% of the Current Market Value exclusive of chattels.  Leasehold property and Vacant Land are assessed at 50%.  However, this recommendation does not affect your level of borrowing, that is negotiable between you and your mortgage provider.