A market valuation report is a formal assessment of land or a building undertaken by a professional, certified valuer. It considers a number of key factors (either related directly to the property or to data about the general, local area) to estimate the current market value. It’s essential to employ the services of a professional valuator to ensure an accurate, objective valuation is received and all elements of the property are considered; both tangible and intangible.
When Would a Valuation Be Required?
A property valuation may be required for a number of reasons, examples include:
- Providing Mortgage Security or Refinancing
- Buying or Selling
- Insurance Purposes
- Family Law, Disputes and Divorce
- Mergers and Acquisitions
- Probate
- Insolvency and Pre-Insolvency
- Litigation
The Structure Of A Valuation Report
While the exact format may vary slightly between providers, most market valuation reports include:
Executive Summary
The executive summary includes an overview of the property, valuation and report details. It will include:
- Date of valuation
- Date of building
- Land and building size and description
- Title information, zoning and restrictions
- Purpose of valuation
- Valuation summary and figures
- Transaction history
A market valuation report is a formal assessment of land or a building undertaken by a professional, certified valuer.
Location
This section describes the location of the property and it’s proximity to important surrounding amenities, developments and transport services. A map will be provided with the physical distance noted to significant local areas including shops, hospitals, train stations, etc.
Land Details
Market valuations include key land details about the land and its permissible use such as land classification details, lot and subdivision information, land area and dimensions, available utilities and encumbrances.
Risk Assessment
The risk assessment lists previous, current and potential impacts on the property. This may include structural elements such as the use of asbestos, or environmental issues such as fire or flood zoning.
Building Information
If the property has a dwelling or infrastructure, information and regarding its condition, features and fixtures will be listed. Examples include:
- Number of rooms (eg. Bedrooms and bathrooms)
- Main construction material (eg. Brick or weatherboard)
- Floor area
- Key fixtures and fittings
- Prime cost items
- Floor, wall and roofing materials
- Improvements and additions
- Images
Market Analysis and Evidence
The local area market is a huge contributing factor to a property’s value. The certifier will conduct research into historical sales, providing examples, of the local area to help gauge a value based on comparable properties.
Certification
In this section, the valuer issues their formal estimate along win any required additional information or terms.
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You can request a call back or speak to a valuer on 1800 496 267 between 8:30am – 5:30pm Monday to Friday or request a call back by completing the following form.
For urgent matters, call Ian Hyman CEO on 0416 151 597.
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