Owners, buyers, and sellers of property should understand the significance of knowing your property’s value. Anyone looking to know the true worth of their property can do no better than a valuation from a registered professional.
A property valuation company in Tasmania can assist individuals and organisations in a number of ways. These are spearheaded by Certified Practising Valuers (CPV) who are registered with the Australian Property Institute (API) and have vast experience as property specialists.
A professional valuer is someone who knows exactly what regulatory and legislative requirements need to be met when preparing the report. The certified reports can be used in a wide range of legal, private, and business negotiations or transactions. The attached standard of legitimacy is what makes it useful in so many scenarios.
A valuation is a key service. This means you’ll want to make sure you choose a trusted firm to take on your case. Knowing where to turn can be a little overwhelming, but there are some things you can do to help you decide.
Finding a property valuation company
In Australia, the available real estate valuation firms and property valuation advisors are plenty. Before making a choice on a property valuation firm, there are a few things you may want to check on. These include:
Asking about qualifications
The first thing you’ll want to do is make sure that the valuers at the firm have the necessary qualifications and are registered with the Australian Property Institute (API). An unqualified valuer assessing your property is not seen as valid and will serve you no use.
Asking about the available services
As a wide range of valuation services exist, you’ll want to make sure that the firm can cater to your needs. A property valuation expert with experience preparing the exact type of report you need is the ideal option in this regard. Know what you’re looking for and find out if it’s on offer.
Checking reviews and testimonials
Overlooking some reviews and testimonials from past clients can help you get an idea of the standard of service. If you notice a barrage of negative reviews or complaints, it may be best to look elsewhere. On the other hand, repeat clients and positive reviews are good signs.
Requesting a quote
Getting a quote will give you a good idea of how much you’re likely to pay for the valuation service. By comparing the costs of various firms, you can make a choice in accordance with your budgetary restrictions.
Why get a property valuation?
You may not realise it now, but there are several reasons to get a property valuation. The legally-accepted nature of the report makes it especially useful. Some of the main purposes people seek out property valuations are:
Pre-sale or pre-purchase advice
Buying or selling a property is a massive decision. The last thing anybody wants is to regret a choice that has lasting consequences. With a pre-sale/pre-purchase valuation, you can get a clear idea of whether the property is right for you.
Taxation
A valuation can aid with property taxes. A report will give you a definitive answer on how much tax your property is worth in either the current or past market. This will be based on evidence provided in the report. Whether it's capital gains tax, land tax, or stamp duty tax, we can assist.
Insurance
An insurance company will need an up-to-date valuation to determine the extent of the coverage they’re willing to offer. A valuation assists firms with determining the LTV ratio of the property and is thus a vital part of sorting out your insurance application.
Legal dispute
Life can often be unpredictable. As such, you may find yourself in the midst of a legal dispute regarding a property. A valuation defines the subject property’s worth to ensure legal processes are not held up.
Asset management
A valuation can be a key help when it comes to managing your assets. Reports outline the remaining useful lifespan, the depreciation rate, and the replacement cost of the assets. With a valuation, you can make informed decisions regarding your assets.
Why not just get an appraisal?
At the end of the day, a real estate appraisal does not have the same standard of accuracy or legitimacy as an independent valuation service.
With a real estate appraisal, the person performing the inspection earns his commission based on what the property sells for. As such, he naturally has a vested interest in the outcome of the valuation. This internal bias can influence the final outcome of the report.
An appraisal is also not seen as definitive proof of value, but rather an estimation. It does not hold the same weight as an independent assessment from a property valuation specialist, nor can it be used for legal purposes. While an appraisal can serve as a useful guide, it should never be seen as a suitable replacement for an independent valuation service from a registered and qualified professional.
Final word
A wide range of property valuation companies exist in Australia. By getting assistance from a reliable firm, you can get a clear and definitive value assigned to your property.
Anyone who needs a valuation service should be sure to do the necessary research. Asking about qualifications and services, checking reviews, and analysing costs can help you decide on a trusted firm.
The benefits of getting an independent valuation are wide-ranging. The report can be used as pre-sale or pre-purchase guidance, as proof of value in a legal dispute, or to help with insurance or taxation.
For more information on our real estate valuation companies in Tasmania, don’t hesitate to reach out today.
