Frequently Asked Questions.

Property is one of the biggest investments you’ll make in your lifetime, regardless of whether it’s a home, investment vehicle or business premises. The potential for great success in property goes hand-in-hand with great risk, and property-related decisions have a huge impact on our lives and livelihood.

Our independent, reliable and tailored valuation and property services will help you make better property decisions and enjoy better property outcomes.

What is a valuation?2023-04-21T04:55:26+10:00

A valuation report is a professional and legal assessment of the value of your property.
A valuer assesses the value of the land and improvements, considering a myriad of factors including building layout, number of rooms, general condition, orientation and land topography, together with analysis of recent sales of comparable properties. This process usually involves an external and internal inspection of the property. When the field work and analysis is complete the valuer compiles the report, which incorporates a final valuation figure or range.

Do I need a valuation?2023-04-21T04:56:23+10:00

A property valuation will provide you with a current assessment of the value of your property, also known as ‘fair market value’. Your need for a valuation may vary from ‘absolutely necessary’ to ‘helpful to have’ as you make various personal and/or business decisions.

What is the significance of “independent” when it comes to valuations?2023-04-21T04:57:08+10:00

With no financial ties to the properties we value, WBP Group valuers provide clients with a qualified, professional and impartial assessment of a property’s value.

Is a valuation the same as a real estate agent’s appraisal?2023-04-21T04:58:12+10:00

The short answer is, no.

They are two documents created for different purposes.  A real estate agent uses expert local market knowledge to determine a price tag for selling a property. An independent valuation carried out by a Certified Practising Valuer can be for a wide range of clients to satisfy a wide range of purposes, including mortgage and refinancing, financial reporting, family law matters, renovation and development feasibility and more.

How do I order a valuation?2023-04-21T04:59:13+10:00

The process is easy and begins with a request for quote via an online form or by calling 1300 302 581.

A WBP team member will discuss your requirements with you in detail and provide a quote. You can accept the quote on the spot and lock in your order, or you can call back within 30 days to accept the quote.

How is the valuation scheduled?2023-04-21T05:00:48+10:00

Our team will call to schedule a time for the valuer to visit the property.

Please ensure access is available to all areas including all detached rooms, granny-flats and sheds. If tenanted, please advise the property manager access is required for the valuation asap. Our aim is to inspect the property within 24 hours.

We will send a confirmation text to the on-site contact.

How long will the valuation inspection take?2023-04-21T05:01:52+10:00

The physical inspection of a property can take anywhere from 10 minutes to an hour or more depending on the property size and type.

Do I need to prepare my property for the valuation inspection?2023-05-02T01:11:18+10:00

For the best outcome, the following steps can assist:

    1. Provide building plans with (legible) measurements. The valuer will measure the property, however building plans will improve accuracy and save time.
    2. Advise of any ‘hard to see features’ such as solar panels, underground water tanks, underfloor heating.
    3. Advise the valuer of any recent comparable sales in the area that may not yet be available online.
    4. Ensure any renovations are finished before the valuation. Incomplete works will have a negative impact.
What will the valuer do during the inspection of my property?2023-05-02T01:13:06+10:00

During an inspection, your valuer will inspect the exterior and interior of your property, taking into consideration the construction, floor plan, fixtures and fittings and general condition of the property. The valuer is required to confirm land size, shape and topography, and to measure the area dimensions of buildings/improvements. Ancillary improvements are also noted, such as fencing, landscaping, swimming pools and car parking facilities.

I’m thinking about renovating, can a valuation help me?2023-05-02T01:14:34+10:00

Many Australians are choosing to renovate over moving house to better meet their changing needs. Renovating is a great way to improve the value of your property, but it doesn’t come without risk. There is no guarantee that the amount you spend on renovations will translate to the same or more increase in your property’s value.

A qualified valuer can ascertain current market value and estimate the post-renovated value based on your plans and specifications. Armed with this information you can make a well-informed decision after comparing your estimated costs with the estimated post-renovation value and help you avoid overcapitalising.

What’s involved in the submission of the report?2023-05-02T01:15:06+10:00

The Compliance Team checks the report to ensure that it meets all regulatory requirements and the instructing party’s specific requirements. The report is submitted to the instructing party within 12 hours of inspection. However, this is contingent upon the complexity of the valuation and availability of comparable sales evidence.

Please note the report can only be provided to the instructing party, which is the lender.

How long will my valuation report be valid for?2023-05-02T01:15:26+10:00

In most cases, a valuation is a valid assessment of your property for 90 days from the date of inspection.

Will the valuer tell me the figure they are putting on the property at the conclusion of the inspection?2023-05-02T01:15:49+10:00

No, the valuer will still have some work to do after the physical inspection, the valuer visits the properties that were sold recently to compare the location, topography, outlook and street appeal. Online databases are resourced for further information and internal photos. Comparable sales are of similar style, on similar size allotments within the same locality. In some instances, sales outside the local area may be analysed if the property is unique.

When the field work and analysis is complete the valuer compiles the report, which incorporates a final valuation figure or range.

Why does my mortgage lender need a valuation of the property I just purchased?2023-05-02T01:16:16+10:00

Banks need to protect their interests by ensuring the parties they lend money to are able to pay it back. The bank orders an independent valuation as part of their risk management process to ensure that if a loan customer defaults and the property needs to be sold, they can recoup the cost of the loan.

Can I receive a copy of the valuation report a bank orders for my property?2023-05-02T01:16:43+10:00

Valuers are legally bound by privacy laws to provide the information requested directly to the instructing party, which in this case is your lending institution. Policies relating to providing the valuation figure to the loan applicant vary from bank to bank. Speak to your bank directly if you wish to receive the valuation figure.
Valuers are unable reproduce reports provided to lending institutions. However, if you would like us to conduct a separate valuation of your property for your own purposes we would be happy to do so at a discounted rate.

How much does a property valuation cost?2023-05-02T01:17:02+10:00

Factors that influence the cost of your valuation include the purpose, property type, land size, location and type of report required. The WBP team member quoting you can explain this in the context of your specific requirements. Remember, the cost of the valuation can be tax-deductible for businesses or if the subject property is held for investment purposes.

Do I pay for my valuation up-front?2023-05-02T01:17:22+10:00

Yes, please! It’s standard practice in the industry to pre-pay for your valuation at the time of booking. You can pay by EFT or credit card (Visa and MasterCard).

Go to Top