Compensation Property Valuations
There are a number of situations where a client will require a property valuation for compensation purposes. These include: if the property in question has been affected by a proposed project, if it has been acquired by the government or damaged/changed. A client is potentially eligible for compensation if their property has been affected by no fault of their own.
A certified independent property valuer is essential to provide a detailed compensation property valuation, which will determine any loss of value by the proposal or acquisition. Legislation states that only an independent certified valuer is required to undertake a property valuation to determine the fair market value. The reason behind this is that certified valuers are legally qualified to perform professional valuations which meet the regulatory requirements.
An independent property valuation investigates over 200 variables of the property, coupled with a thorough analysis on the local property market, to determine a clear and concise valuation report stating the fair market value. At Vals TAS, each of our certified valuers has over 20 yeas’ experience in the industry, providing them with the skills to conduct a precise report. Our property valuers conduct a valuation report that meets the legislative requirements for compensation. Each of our valuation reports are legally certified documents
If your property has been acquired, partially or completely, or could potentially be affected by proposed government projects, a property valuation will determine any loss of value. This includes: compulsory acquisition, obstruction of view from a development and obstruction caused by infrastructure. A certified property valuer holds the qualifications to calculate the value of the property and determine any entitled compensation under the Land Acquisition Act 1969.
If you require a compensation property valuation, or would like to learn more about how we can help you, please give our team of experts a call on (03) 6108 2178 or fill out an online form and we will be happy to assist you.