What is an Independent property valuation Melbourne?
One of the main reason for a client choosing to engage a licensed property valuer is for their independence. Yes, we are considered experts in determining a properties market value, but it’s our complete independence that clients rely on where we can provide truly impartial and professional advice that is of most value to many clients.
As has been discussed in previous posts and web pages on this site, a real estate agents opinion of value is not considered to be truly independent, and advice they give may be subject to a range of factors other than just providing an accurate valuation of a property.
We regularly see written appraisals that are obviously inaccurate, and they have been provided to clients mostly as a favour in a divorce settlement or something similar when having a high or low market assessment of the property may be helpful to one party in the seperation.
Unfortunately this rarely helps the situation as clients have become more aware of a licensed property valuers role in helping to determine a properties value. And as such, when a real estate agents appraisal is received there is usually a reaction that it may not be accurate no matter what the figure stated. And then the client just has to engage a property valuer to sort the matter out.
In matters such as as divorce property valuation, courts will only accept a report from an independent property valuer as evidence of value. This is also the case with all government departments and most legal situations.
The immigration department amongst others may also specify that a property has to be valued retrospectively as at a number of dates (sometimes 3 or more), and it is only an independent property valuation that is acceptable in this case.
If you have any questions in regards to the role a property valuer has, or a independent property valuation in Melbourne feel free to contact us for further information.
Below is a link for Immigration property valuations that may provide some further information of interest.
https://www.insightproperty.com.au/immigration-property-valuation/