Valuations

Independent property valuations can help to ensure you make an informed property decision.

A Certified Practising Valuer will fully inspect the property, then research and analyse the local market and provide a detailed report including information and commentary on issues affecting the current market value of the property.

Understanding the true value of a property can save you from paying too much. Make sure you do your own research, and consider hiring a property valuer.

A formal valuation can only be conducted by a qualified valuer who has undertaken prescribed education and training in this field to ensure that they take into account all features and issues relating to a particular property.

Make sure you use a valuer registered with the Valuers Registration Board.


When Do You Need a Valuation?

You need a property valuation when a definitive value is required.

  • a property settlement
  • dispute resolution
  • a deceased estate
  • asset accounting and management
  • to obtain finance to purchase
  • refinancing or to draw down on the equity in your property
  • Banks generally require a valuation when lending for property purchases, however under some circumstances they may opt for a restricted (drive by) or desktop (computer generated) valuation instead of a full formal valuation.


Getting the Most from Your Valuation

Generally, the value of your property will determined by factors beyond your control, however there are some things you can do to maximise your valuation.

Present your property well – neat and tidy outside, orderly and clutter-free inside – and complete any half-finished paint jobs, or unfinished renovations. If you have made improvements, it may be helpful to provide the valuer with specifications.


What is the difference between an Appraisal and a Valuation?

Real estate professionals are often asked whether there is a difference between a valuation and appraisal. There is a difference and it is important to know when a formal valuation is required as opposed to obtaining an appraisal.

Valuing is a complex task and will take some time to complete. A formal valuation will take into account things such as:

  • the location of the property
  • the building structure and its condition
  • building/structural faults
  • features of the home
  • caveats or encumbrances on the property
  • local Council zoning
  • additional features of the property (particularly relevant in rural areas)

After a valuation, the client will receive a written report detailing the value of the property and a fee will be charged for this service.

Valuations are required when a definitive value is needed. Reasons for this include a property settlement, obtaining finance from a lending institution or establishing the value of a deceased estate. A Court may also order that a valuation be obtained as part of the process of resolving a dispute.

If you do require the best indication of price, engage the services of a qualified valuer so that you can be sure of the true value of your property.

Appraisals are only intended as a guide to pricing and can be requested from real estate salespeople. Appraisals are estimated by knowledge of the local area and recent sale prices and should only ever be used as an estimate of price. They are not definitive and have no legal standing.

Matthews Real Estate do not charge a fee for appraisals and they are generally only requested by potential vendors to get a ‘feel' for the local market.


Obtaining a Valuation

Valuations are conducted by Trevor Matthews – Registered Valuer No. 212

Registered since 1967 and actively engaged on valuation work for the period 1967 to 2014 ongoing. Associate Member since 1974 of the Australian Property Institute (AAPI)




Fees

There is no set fee for property valuation. You should obtain a quote from Trevor and discuss costs with him directly.

Please email trevorm@matthewsrealestate.com.au for a quote or phone Trevor on 0418 742 267

Free Market Appraisals can be conducted by our sales team. Please call Russell Matthews on 0417 882 180 to arrange an appointment or email russellm@matthewsrealestate.com.au


Information provided by the Real Estate Institute of South Australia (reisa.com.au)

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