Home » Frequently Asked Questions

Frequently Asked Questions

What is an independent property valuation?

An independent property valuation is a certified document completed by a registered valuer. It includes a detailed report of extensive research used to determine the fair market value of the subject property at either a current market or retrospective date.

An independent property valuation can be used across all property types and for a variety of purposes; therefore, it’s important to seek out the services of an industry professional to cater towards your requirements. Independent property valuations are completed objectively and without any conflict of interest, ensuring complete accuracy and transparency.

What are the uses of a current market property valuation?

A property valuation for current market value will value the property in its present state and is only valid for 90 days from the date of the inspection. As such, a current market property valuation can inform on equity holding, financial planning and assist in decision making and risk management.

In addition to this, a current market property valuation is often required to comply with various legal, taxation and government requirements free from agenda and bias, and as such can only be prepared by an industry expert and certified valuer.

How does a certified property valuation differ from a real estate appraisal?

A certified property valuation is an extensive, comprehensively researched document provided by a qualified, professional valuer. It can be tailored to suit any specialised purpose and adhere to any legislative requirements if required.

Real estate appraisals are not property valuations and are offered by real estate agents as a method to gain customers. Because of their position, real estate agents have a natural conflict of interest. Additionally, they have no qualifications and can only provide an un-informed estimation.

In contrast to this, a property valuation report is an informed professional document, ensuring an accurate determination of the property’s value based on thorough research and evidence.

How is a property valuation impacted by local property market conditions?

A certified property valuation determines the fair market value of the subject property based on the research performed by the certified valuer. The local property market plays a key part in reaching the market value; therefore, a certified property valuation report is largely based on the performance on the local property market.

The local property market is based on areas such as buyer/seller interest and economic factors such as government incentives, interest rates and economic decline. As such, these variables will impact local property prices and, subsequently, the value of the subject property.

A property valuation is an unbiased, legal document detailing objective research gathered from real property databases, including comparable sales and a market analysis. As such, you will receive a certified independent property valuation that reflect the true value of the property based on objective data and without conflict of interest.

What is the training required for a certified property valuer?

In order to perform a certified valuation report, a property valuer must go through extensive training completed through the Australian Property Institute (API). This training includes a process of tertiary qualifications, a two-year traineeship with industry practice and a professional interview.

Overall, it takes an average of six years training to become a Certified Practicing Valuer (CPV) accredited to undertake professional valuation reports. Perth Property Valuers have a team of certified property valuers with the training to be considered at the forefront of the property industry – providing expert advice in regard to any valuation service.

How can a certified property valuer help you?

Only a certified, independent property valuer is able to provide sworn valuation reports that are accepted by any legal entity or government body. This makes them uniquely qualified to complete valuations which require adherence to specific standards or guidelines and without any conflict of interest. By choosing a certified property valuer you are guaranteed expert knowledge, industry experience, and an accurate fair market value.

A certified property valuer is exclusively capable of determining the accurate value – whether current market or retrospective – of any property type. This is vital for informing decisions for many purposes, from buying or selling a property to financial planning.

How do our property valuers perform a valuation?

When performing a valuation, our property valuers go through an extensive process to calculate the true value of the property. The property valuer will thoroughly inspect the property, taking photographs and writing extensive site notes of the condition and features throughout the land and building of the property.

After this, the property valuer will access exclusive property databases to compile research of comparable local sales and current market trends. This information is included within the valuation report, applied to industry methodologies, and used to inform the final value.

This process is determined by API standards, and ensures due diligence is taken at every stage throughout the valuation.

What does a property valuer include in a valuation report?

Upon the completion of a certified valuation report, a property valuer is obligated to include an extensive range of objective data in relation to the subject property. This includes information such as a detailed risk analysis, a description of the building and land particulars and any notable improvements to the subject property. A certified property valuer will also include a comprehensive analysis of comparable sales in the area for a direct comparison in the local market.

A certified valuation is a professionally detailed report based on expert knowledge and thorough research in regard to the subject property. As such, a certified property valuer will ensure that the report is compliant with all governing bodies and free from any kind of agenda or bias.