A property valuation is a common method for managing and maintaining the value of assets. Knowing the current market value can help you to make informed decisions on buying, selling or improving your property.
benefits of an accurate appraisal are plentiful. Our team of Certified Practising Valuers (CPVs) are ready to guide you on your property journey from start to finish.
Why is it important to get an independent valuation?
Firms like ours are not the only means of valuing your property. Institutions like banks and real estate agencies do offer some similar services. So, what’s the difference?
In short, accuracy and objectivity.
Let’s say you want to establish the current value of a home to budget for a purchase or apply for a home loan. In this case, both banks and real estate agents need to protect their own interests. A bank wants to ensure the sale of that asset will cover their investment if you default on your loan.
On the other hand, real estate agents need to earn their commission. They appraise an asset based on what they believe it can sell for, whereas banks deliver conservative appraisals to avoid risk.
Neither service guarantees your valuation will reflect true market value.
An inspection from a licensed independent valuer is legally certified and widely recognised as a true and impartial statement of fair market value.
Common reasons for a real estate valuation
Investors, homeowners, and businesses seek out independent real estate valuations for a wide range of practical purposes. That includes everything from applying for mortgages to navigating legal matters and boosting the value of their assets.
A legally certified valuation report can be the key supporting document in a property settlement or a mortgage application. It can help you renegotiate the terms of a rental agreement, guide the pre-sale or pre-purchase process and guarantee you receive adequate compensation when your property is damaged by a third party.
No other property-related service is as dynamic, comprehensive or tailored to your specific needs.
What are the benefits of a property valuation?
Each report is fully customised to your needs and so what you get out of it will depend on the purpose of your valuation. Our valuers have a minimum of 20 years of experience supporting clients and property owners across all property types.
The benefits of their expertise include:
- Accurate Property Pricing: There is no better way to ensure you get the optimal price when selling or renting out your property. A licensed valuation is guaranteed to uncover the true market value of any property. That’s either current or past market value.
- Financing: When applying for either a loan or mortgage, any bank or lender will request a full appraisal of the property in question. This way, a lender can guarantee they will earn back their investment should you fail to pay them back. The advantage here is that a valuation reflecting a high value will result in lower interest and more financing options.
- Supporting Legal Matters: A legally certified valuation report is a critical document in a wide range of property-related legal matters. If you’re settling an estate, trying to resolve a dispute or calculating property tax, it’s vital to have an accurate estimate of the asset’s value.
- Boosting Property Value: During the valuation process, licensed valuers will carefully identify any repairs, maintenance or upgrades the property in question could benefit from. This information can directly help you to increase the value of your assets for the future, as well as budget and plan for the necessary changes.
- Investment Decisions: Knowing your asset’s worth in the greater market is a key component to investing your money wisely. An objective independent appraisal can show you how likely your investment’s value is to increase over time and allow you to manage that investment in a manner more likely to generate profits.
How to get a legally certified real estate appraisal
Several online tools and alternative services are offering their own versions of a property appraisal. These services may be quick and convenient but cannot offer a legally certified report. This means that they would not be accepted for the likes of tax disputes or any legal matters.
The only way to get a dependable report that covers you for these purposes and more is to work with a Certified Practising Valuer. Our CPVs are trained by the Australian Property Institute (API) to uphold high standards for accuracy, transparency, and impartiality.