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Strathfield property valuation questions

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Acceptance & compliance

What is a property valuation?+

A valuer's signed opinion of what a property was worth on one nominated day, with the comparable sales and the reasoning set out beneath it. Its independence is the whole point: it answers a question that a figure agreed between the people involved cannot.

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

An appraisal is a free selling estimate, offered while an agent is competing for a listing, and nobody signs it. A valuation is independent of any sale, effective as at a stated date, evidenced by settled sales, and signed by the valuer who prepared it.

Who is qualified to prepare a property valuation?+

In New South Wales, a valuer with the professional qualification and standing to have their opinion relied on. Their name and credentials appear on the report, which is exactly what allows a third party to act on it.

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 sales are attached rather than summarised, so an auditor can follow the figure back to its evidence.

Who signs the report?+

The valuer who reached the opinion, named with their qualification. Not the model that gathered the evidence, and not anyone signing in their place. (from $550).

Is an Automated Market Assessment enough for tax purposes?+

No. It is unsigned, so no auditor, accountant or revenue office can act on it, and a transfer being assessed on market value will not be settled by it. It is for deciding. On timing: signed desktop reports usually go the same day and an Automated Market Assessment the next business day.

How long is a property valuation valid for?+

It is effective as at its date rather than indefinitely. Where the recipient applies a currency period, that period governs, and your solicitor or conveyancer will know which one. For a transfer, ordering close to the date of the transaction is usually the sensible course.

Pricing & orders

Are the prices really fixed?+

Yes. $169 for signed desktop reports, $79 for Automated Market Assessments. Inspection valuations start at $550, with the exact price confirmed at checkout before you pay, never after.

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

An advertised price is a marketing position, often a range set to attract interest. A valuation reports settled evidence, and it is prepared without any interest in what the figure turns out to be, which is the difference that matters when somebody other than a buyer is going to read it.

Can I move up to a signed report later?+

Yes, at any point. We credit the $79 against the signed report whenever you upgrade.

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

No. A rates notice generally shows a land value, meaning the ground alone with nothing built on it, assessed for rating at a date the council set. A valuation covers the whole property at the date you need, which is why a rates figure will not stand in for one on a transfer.

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