WHAT DOES A PROPERTY VALUER DO?
A valuer puts a monetary amount on a property whether it’s a residential, industrial or commercial valuation report.
We will discuss the type of valuation you are looking for as this varies with the instructions that are given either by the owner, solicitor, conveyancer or accountant.
Some reasons for having a valuation could be for stamp duty, family dispute, superannuation, trust funds, so the precise instructions need to be advised and also advising what time frame the valuation report is needed.
Organise a suitable time to inspect the property which sometimes can be with tenants, agents or an advised party.
We take into consideration the size of the land, what improvements are on the property, topography, zoning, surrounding development and most importantly the location, or in real estate terms, position, position, position.
Once we gather the information, the property will be valued on the basis of which method is appropriate, direct comparison of its comparability with other properties of similar class which may or may not be comparable, then adjustments will be made in the assessment as considered appropriate, capitalisation rates are used in commercial/industrial properties to determine a yield, as well as summation.
Once the report is completed it is forwarded to the client and followed up to discuss the valuation and any recommendations or changes that may be needed.