The Process for a Standard Residential Valuation Includes:
- Firstly receiving instructions and determining the specific purpose of the valuation.
- Determining the property’s legal description, plus searching a current Certificate of Title and any further relevant documentation.
- A comprehensive external and internal inspection of the property, taking into consideration construction of the buildings on site, relevant fixtures and fittings and their condition, calculation of floor areas, plus noting surrounding development and services.
- Analysis of surrounding sales and current market research.
- Assessing the valuation and preparing a comprehensive written report.
Standard Valuation Report Content:
Introduction
A brief description as to the date of inspection and purpose of valuation.
VALUATION SUMMARY
Summary of the report
LEGAL DESCRIPTION
The legal description of the property, as per the Record of Title and any easements or instruments that may be considered.
ZONING
Summary of District Plan and compliance, including permitted activities applicable to the subject.
LOCATION
Description of surrounding locality and services.
Land
Detailed description of property including physical characteristics, site development and aerial photo.
STRUCTURAL IMPROVEMENTS
Details of all structural improvements on the property (if any).
MARKET
Current detailed description of the ever changing property market.
Valuation
All comparable transaction, prior sale (if any) and our nett rate method.
VALUATION SCHEDULE
Detailed breakdown of the Current Market Value including Basis of Value and Selling Period (if required).
RISK PROFILE
The property risk analysis profile indicates our opinion of the level of risk that each stated aspect currently has on the value and saleability of the property.
MORTGAGE SECURITY RECOMMENDATION
Only included when Valuation is required for lending purposes, being the recommendation as to the level of security for a mortgage advance.
LIMITATIONS & QUALIFICATIONS
Additional content can may be added into the report depending on property type, purpose etc.
Possible attachments to the valuation report will include the Certificate of Title, Flats Plan, Subdivision Plan, whichever is applicable to the subject property.
Our valuation reports include extensive photographs of the property and area.