Would you like to know more about a property valuation report?
One of the most common questions many new clients have for us is: What is included in a property valuation report?
The answer depends on the type of property being valued and the reason for the valuation.
Residential, retail, commercial or any other distinct property type each has a separate report format, and whilst they will include some obvious basic details that are similar each will have a layout and some information that is specific to the property type.
The second determining factor in what is included in a property valuation report is the purpose of the valuation. A stamp duty or pre sale valuation report may be relatively brief, but a report being used in court or litigation will need to be significantly more detailed.
This is why when a clients asks about a property valuation we always ask what type of property would you like valued, and what is the reason for the valuation. This ensures you receive the best report for your requirements.
Once the property has been inspected the report can be prepared, and it will cover the basic items such as who the report is to be used by, the date of inspection, the date of valuation, the property address, the land area, location and proximity to shops, schools, transport etc., zoning, title details, a detailed description of the improvements which will include building areas and photos, a list of comparable recent and similar sales in the area and a summary in regards to the property, its marketability and the state of the property market in the area.
Property valuation reports are now always sent to clients electronically, and this means they can be forwarded onto accountants, solicitors, other interested parties or lodged online in court as evidence easily.
If you are looking for a property valuation and require further information about a property valuation report we can help you will obligation free advice and our extensive experience.