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Lane Cove property valuation questions

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Acceptance & compliance

What is a property valuation?+

A valuer's signed opinion of a property's market value on one nominated day, with the comparable sales and the reasoning set out beneath it. It is an opinion about the property rather than about its address, which matters wherever two homes sharing a building have been treated very differently by their owners.

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

An appraisal is a free estimate an agent offers while competing for a listing, and it is not signed. A valuation is prepared independently of any sale, effective as at a stated date, evidenced by settled sales, and signed by the valuer who formed the view.

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. It carries no signature, so there is no independent opinion in it for an auditor or a revenue office to act on. Use it for deciding. On timing: a signed desktop report normally goes the same day, and the Automated Market Assessment arrives the next business day.

How long is a property valuation valid for?+

It speaks as at its effective date and does not stay current on its own. Where the body receiving it applies a currency period, that period governs, and your adviser will know which one. Ordering near the time the figure is needed is usually less trouble than ordering early.

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 and accounts for the condition the property is actually in, which in a suburb of owner-occupiers varies more between neighbours than a campaign will let on.

Can I move up to a signed report later?+

Yes, at any point. We credit the $79 against the signed report whenever you upgrade.

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

No. A rates notice usually gives a land value, which is the ground with nothing standing on it, assessed for rating at a date the council set. A valuation is of the whole property at the date you need. They answer different questions and rarely agree.

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