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A Property Valuation is an assessment of a property’s market value according to a registered valuer. This is based on a full inspection of your property as well as comparable sales data in the area. At the end of the valuation process you will be provided with a Valuation Report combining your property information with sales details and relevant market value at the time of inspection.
We specialise in residential properties, lifestyle blocks, vacant sections and residential investments within the Dunedin area, including North to Waikouaiti and South to around Milton. Contact us today if you have a property you need valued.
Registered Valuers recognise that there are often many factors to consider when assessing a property’s value and that seldom are any two properties the same. Every property should be treated separately and as a unique property. For example, the value of a residential property can be significantly affected by the dwellings layout, it’s elevation and any aspects such as views, the quality/condition of improvements. Online tools only look at the sales of similar properties in the area, but don’t consider the visual and material aspects of a property. A registered valuation requires a registered and qualified valuer to inspect the property physically and includes factors that a computer algorithm wouldn’t capture.
All valuers must complete an approved university degree, for example, I completed a Bachelor of Commerce (Agriculture) majoring in Rural Valuation at Lincoln University before going on to complete a Graduate Certificate in Commerce. To become a registered valuer, you must have spent at least three years working full time as a valuer (within a firm of registered valuers) and you are required to pass an oral and written examination in front of the Valuers Registration Board (VRB).Registered valuers must hold an Annual Practicing Certificate (issued by the VRB) and must undertake ongoing professional development.
In general, the valuation process takes around a week to complete, but this can vary depending on your requirements. Every property is different and there are many different reasons for a valuation, so it’s best to get in touch with us to discuss your requirements and we can provide you with a quote.
We need to have access to your whole property to provide an accurate valuation. We assess the outside of buildings such as the house, large sheds or garages, property access, landscaping, fencing, views, etc. Our internal assessment includes aspects such as the layout of the house, the condition (and any issues such as holes or leaks), the size, and the quality of any renovations or extensions.
The photos demonstrate that a full and comprehensive inspection has been done and to confirm the features of the property. The photos we take are used selectively, and we try to only use kitchen, lounge and bathroom photos in our valuation reports. Other than being used in our reports, we will hold the photos on file for reference, but no one else will have access to them.
This is dependent on what the valuation is required for and what the client needs:
- 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/client.
- Insurance: addressed either to the owner/client or the insurance company/broker.