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Kogarah property valuation questions

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Acceptance & compliance

What is a property valuation?+

A registered valuer's formal written opinion of what a property is worth on a stated date. The report names the property, the date it applies to, the comparable sales considered and the method used, and the valuer signs it. That signature is what separates a valuation from an estimate.

What is the difference between a property valuation and an agent appraisal?+

An agent's appraisal is a selling opinion, given free and not signed. A property valuation is a formal assessment by a registered valuer, dated, evidenced against comparable sales and signed. Only the second is prepared to be relied on by somebody other than you.

Who is qualified to prepare a property valuation?+

Valuers hold a tertiary property qualification and professional accreditation, most commonly as a Certified Practising Valuer with the Australian Property Institute. Some states also run their own registration scheme. The valuer who signs your report is qualified for the state the property sits in.

Timing & process

Will the ATO and an SMSF auditor accept the report?+

Yes. A valuer independent of your fund prepares and signs it, SISR 8.02B is the standard it is written to, and the comparable Kogarah sales it relied on are attached rather than summarised.

Who signs the report?+

A registered valuer, named on the report with their qualification and registration details. Not a model, and not an administrator working from one..

Is an Automated Market Assessment enough for tax purposes?+

No. It is unsigned, which means there is no independent professional standing behind it. It is built for deciding and comparing, not for reporting to anyone. On timing, signed desktop reports mostly go out the same day, and an Automated Market Assessment arrives the next business day.

How long is a property valuation valid for?+

A valuation speaks as at its effective date rather than indefinitely. Markets move, so the further you travel from that date the less the figure describes today. Where the body receiving it sets its own currency period, that period is the one that governs, and your adviser can confirm it.

Pricing & orders

Are the prices really fixed?+

Yes. $169 for signed desktop reports, $79 for Automated Market Assessments.

Why is the valuation different from the price a property is advertised at?+

An asking price is a marketing position set by a seller and their agent, and it can be tested by the campaign. A valuation assesses market value from sales that have actually settled. The two frequently differ, and only the settled evidence is something a report can stand on.

How long does a property valuation take?+

A signed desktop report usually goes out the same business day. An inspected report waits on access, which we arrange with the occupant or the managing agent, and in a suburb this heavily tenanted that is the step worth starting early. An Automated Market Assessment arrives the next business day.

Is market value the same as the value on my council rates notice?+

No. A rates notice generally shows a land value, which is the land on its own without the house standing on it, assessed for rating at a set date. A Kogarah property valuation assesses the whole property at the date you need it.

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