FREQUENTLY ASKED QUESTIONS

Frequently Asked Questions

• How do you become a valuer and what do valuers do?
• What does a valuer do on the job.
• Can a Real Estate Agent provide this service?
• Why do I need a Valuation?
• How long does a valuer take to perform a valuation?
• How much will a valuations cost?

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

How do you become a valuer and what do valuers do?
A valuer is a property industry professional with qualifications obtained from university or equivalent educational organisations.
Property Valuers, therefore provide an independent opinion as to the value of the asset, usually supported by reference to comparable sales of similar assets in and around the locality.

Most valuers are members of the either the Australian Valuers Institute (AVI) or the Australian Property Institute (API).

To obtain an Associate Membership as part of the API a valuer must:

1. Two years of experience in the field
2. Submit examples of their work to a board of examiners and pass a valuation examination
3. Obtain a 3 - 4 year Bachelor of Business Degree or equivalent valuation degree.
   To maintain membership a minimum of 20 hours per annum of compulsory professional development training must be undertaken, and undertake 3 yearly risk management modules relating to the valuation industry.
   

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

What does a valuer do on the job?

1. A valuer’s job is to interpret the sector of the property market in which the subject property being valued sits and provide a valuation report which outlines the valuation methodology behind this.
2. The valuer will inspect the subject property, take notes on the property and general locality, measure the dimensions of the property and look at various comparable properties in the local area. The valuer will then make the appropriate adjustments for differences between the sale comparable properties and the subject property being valued so as to ascertain a value of the property.
3. The valuer’s findings are usually presented in a comprehensive valuation report format. The valuation report is a legal document that may, depending upon the purpose for which it was prepared, be tendered in court as evidence, relied upon by lenders for securing a mortgage, and many other such formal uses. Please feel free to contact our valuation offices Australia Wide about your specific valuation needs.
   

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Can a Real Estate Agent provide this valuation service? [ Back to Top ]

There is a considerable difference between a Real Estate Agent’s appraisal and a valuation report from a qualified valuer.

 

Real Estate Agents typically provide an appraisal for potential sale purposes, and for obtaining a sales listing, and it is common for vendors to obtain a few appraisals from different Real Estate Agents to compare their approach to the sale process. These are not accepted by financial institutions to lend on, whereas valuations conducted by valuers are.

 

A valuation report is a legal document, valuers are independent and have no vested interest in the properties they are valuing, whereas a Real Estate Agent’s appraisal is part of the process of listing the property for sale, usually in competition against other Real Estate Agents.

 

Valuers are typically, university-trained professionals who can be required to endorse their valuations in a court of law.

 

So if you are ever considering selling then vendors should get an independent valuation as well as several Real Estate Agents’ appraisals and make there own educated judgment from there.

 

A valuation by a qualified valuer provides peace of mind – and an independent benchmark from which to compare appraisals.

 

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Why do I need a Valuation? [ Back to Top ]

Anyone who has, for any purpose, anything to do with real estate or property in general, such as considering the sale, purchase, or refinancing of property should obtain a valuation from a professionally qualified valuer. The small cost of obtaining the opinion of a valuer who has experience as an independent valuation professional has saved many people in the past from making mistakes that could have cost them tens of thousand of dollars.

 

Some of the main reasons, as the list is endless, why people obtain valuations from professionally qualified valuers are listed as follows:

Valuation for Sale Reasons
A valuation provides a potential seller with a reliable, independent research of the value of their property so that an accurate basis for decision making is formed.

A valuation also provides a benchmark against which Real Estate Agents’ appraisals can be compared.

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Valuation for Purchasing Reasons
The purchase of real estate is one of the biggest financial commitments that most people ever make in their lives. Often these decisions are made quickly and/or hastily, under pressure from a skilled marketer, or they are driven by emotion, only to be regretted when it is too late to back out and realise they have got themselves into something they didn’t want.

 

You can better enlighten yourself by ordering a valuation. One of our professionally qualified and experienced valuers can attend an open inspection with you, or have us make arrangements directly with the agent to undertake a valuation on your behalf. We do this all the time and can potentially save you thousands.
Sign your contract “subject to valuation”. The valuation can be completed within 2 days, so this is not onerous upon the vendor.

Contact Valuation Exchange for the appropriate clause to have the agent insert into the contract.

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Matrimonial Settlement Valuation
When a relationship break down (whether marriage, de-facto marriage or other) where it is necessary to divide the joint assets, this is where a valuer will be needed.

 

If agreement can be made on the manner of which a property should be split, legal expenses can be saved by obtaining an independent valuation from a qualified valuer.

Alternatively each party can obtain their own valuer should they wish. If the valuation opinions differ the valuers can meet to discuss and agree upon a compromise. This is what will happen if the matter goes to court generally.

Having an independent valuer value your property and produce a legally binding document known as the “valuation” is the best way to prevent arguments and start progress and resolution to move on with your life.

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Refinance Valuation
If you are considering refinance, debt consolidation or investing, your chosen financier or broker will require a valuation.

 

AusWide Valuations are accepted by many lenders, so why not obtain the valuation beforehand so you know where you stand?

 

AusWide Valuations will assist to negotiate a reduction to your loan application fee with selected lenders, as they will not need to pay for another valuation.

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

Second Mortgage, Managed Investment Schemes Valuations and Solicitor Valuations

If you are considering second mortgage valuations , solicitor valuations or similar funding your chosen financier or broker will require a valuation . There are limited valuation firms in Australia that have the proper valuation Professional Indemnity Insurance that cover these types of valuations, but here at AusWide Valuations we have the necessary insurance cover that enables us to service this area confidently.

 

AusWide Valuations are accepted by many lenders, so why not obtain the valuation beforehand so you know where how much you can borrow?

 

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

Property Investment Valuation
Property investment can be fraught with danger for the first time investor.

 

Constant property media reports about the property “boom and bust” cycle, the Reserve Bank lifting home loan interest rates in response to the “overheated” property market, the failures or liquidations of some property development companies and property developer individuals and property investment schemes, the “two tier market” and so on, are common and seem to recur on a regular basis.

 

These reports are always accompanied by stories of individual investors who have lost money, sometimes large amounts and often more than they can afford to repay, sometimes setting back investors their whole life savings.

 

At the same time, property has always been popular among Australian investors, and there are many sound property investments out there, they just need to be found. The question is how to avoid the pitfalls and the few unscrupulous operators that will always be out there?

 

AusWide Valuations has professionally qualified valuers operating in all areas of the Australian property valuation market who are aware of most pitfalls and who know what these investment properties are really worth.

 

So don’t put yourself or your hard earned money at risk anymore– request a property valuation professional to give you the advice you deserve and can trust.

Remember, the few hundred dollars you might spend on an independent valuation by a suitably qualified valuer before you commit could save you tens of thousands of dollars if the particular property turns out to be a less than sound investment.

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Accounting & Tax Valuations

AusWide Valuations can help investors ensure that their accountant can maximise their position. An AusWide Valuations valuation or building inspection can assist with:

• GST Valuation
• Capital Gains Tax Valuation
• Stamp Duty Valuation
• Building and plant depreciation Valuation

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

Alterations and Additions Valuations

Progress certificates

Building your own home can be scary, but here at AusWide Valuations we have a system to provide professional and accurate progress valuations to provide your lender with accurate building figures and progress assessments to enable you to get your draw down quickly and easily.

 

Proposed developments
If you are a property developer and need a valuation to assess the cost of a project or what value to put on a finished development, we can help. We at AusWide Valuations have commercially trained and experienced valuers who can assess to be erected properties and help you on the way to realising that dream development.

 

Trust purposes
Are you the Executor of a Trust. Here at AusWide Valuations we can help you find the most attractive investment property for your client or evaluate / value existing trust assets.

 

How long does a valuer take to perform a valuation? [ Back to Top ]

Once you have ordered a valuation through AusWide Valuations (PH 02 9727 4948, or valuations@auswidevaluations.com.au) one of our friendly qualified staff immediately allocate your request to a valuer who will then immediately make arrangements to inspect the property to be valued.

 

The property will then be inspected, the valuation report typed and reviewed and then issued back to you the client.

 

Normally valuations will only take 12- 24 hours, with more complex properties and valuations taking up to 48hours. Commercial reports turnaround time depends on the complexity of the commercial property so feel free to contact one of our valuation offices Australia Wide to discuss your requirements.

Note: High volume “short form” valuations for lending industry clients are undertaken in shorter timeframe.

 

Contact AusWide Valuations (PH 02 9727 4948, or valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

How much do valuations cost? [ Back to Top ]

Most residential valuations are conducted for a fee starting from $180 plus GST and the can change depending on the location, size and value of the property, the complexity of the valuation, and the type of report required.

 

Higher value, remote or complex valuations and valuations of commercial property will attract a higher fee and longer turnaround times.

 

Please contact The Valuation Exchange to discuss your specific requirements and obtain a valuation fee quotation.

 

Contact AusWide Valuations (PH 02 9727 4948, or
valuations@auswidevaluations.com.au) for valuation advice or quotes.

 

ORDER A VALUATION