The Valuation Process – Here’s What to Expect

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.

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.

The inspection will take around 10 -20 minutes. The valuer will need to access to all areas including the yard, detached rooms, granny flats, sheds etc. Ensure all gates are unlocked for access and pets are restrained. The Valuer will measure the property from the outside, and take photos of the kitchen, bathroom, front, rear and notable areas e.g. pool, view and obvious defects.

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.

The valuer considers:

• The location of the property
• The size and topography of the land
• The number of bedrooms and bathrooms
• The size of the dwelling
• The fixtures and features & condition of the property
• The ancillary improvements on the property such as a pool, landscaping, driveways, sheds etc.
• The view from the dwelling

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.