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Erskineville 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. The reasoning is where an Erskineville report earns its keep, because it is the only place the things a sales record cannot hold get written down.

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

An appraisal is a free selling estimate given while an agent is still competing for the listing, and it carries no signature. A valuation is prepared independently of any sale, holds as at a stated date, names the settled sales behind it, and is signed by the valuer who formed the opinion.

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, and in Erskineville it is worth saying why twice. It is unsigned, so nobody can rely on it, and it is also working from fields that do not record what a property here actually comes with. Use it to decide. A signed desktop report usually goes out the same day, and an Automated Market Assessment arrives the next business day.

How long is a property valuation valid for?+

It is effective as at its date rather than open-endedly. Where the organisation receiving it applies a currency period, that period is what counts and your adviser will know which. A good deal of Erskineville work is written to a date only a few years back, which is recent enough that people assume they can remember the figure and old enough that they cannot.

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. In Erskineville a campaign can point at a sale that matches on every stated detail and differs on the ones nobody lists, which is where most of the gap comes from.

How long does a property valuation take?+

Signed desktop reports normally go out on the same business day they are ordered. Inspected ones depend on when somebody can open the property, and that is what sets the timeline rather than the writing. The Automated Market Assessment lands the next business day.

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

No. A rates notice generally carries a land value, the ground on its own with nothing built on it, struck for rating at a date the council chose. A valuation covers the whole property at the date you need it, including everything the land value ignores and everything a sales record leaves out.

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