The process for a standard residential valuation includes :-
- Firstly receiving instructions and determining the specific purpose of the valuation.
- Determining the property's legal description, plus searching a current Certificate of Title and any further relevant documentation.
- A comprehensive external and internal inspection of the property, taking into consideration construction of the buildings on site, relevant fixtures and fittings and their condition, calculation of floor areas, plus noting surrounding development and services.
- Analysis of surrounding sales and current market research.
- Assessing the valuation and preparing a comprehensive written report.
Standard Valuation Report Content:
- INTRODUCTION - A brief description as to the date of inspection and purpose of valuation.
- DESCRIPTION - The legal description of the property, as per the Certificate of Title.
- VALUATION - Assessed Current Market Value of the property, either inclusive of exclusive of fixed chattels.
- LIMITATIONS & QUALIFICATIONS
- MORTGAGE SECURITY RECOMMENDATION - This may or may not be required, depending on the purpose of valuation, being the recommendation as to the level of security for a mortgage advance.
- ZONING - Summary of District Plan and compliance, including permitted activities applicable to the subject.
- LOCATION - Description of surrounding locality and services.
- LAND - Detailed description of property including physical characteristics, site development, subdivision potential and aerial photo.
- HOUSE & IMPROVEMENTS - Detailed description of the interior and exterior of the dwelling/s on site, plus any additional improvements.
- THE MARKET - Analysis of the current market conditions, inclusive of comparable and supportive sales to the subject property.
- VALUATION SCHEDULE - Schedule of land, plus improvements, to assess the Current Market Value of the property. G.S.T. is generally not assessed on residential properties and the valuation will be either inclusive of exclusive of fixed chattels.
Possible attachments to the valuation report will include the Certificate of Title, Flats Plan, Subdivision Plan, whichever is applicable to the subject property.
Our valuation reports include extensive photographs of the property and area.