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Wahroonga property valuation questions

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Acceptance & compliance

What is a property valuation?+

A valuer's signed opinion of what a property was worth on one nominated day, with the comparable sales and the reasoning laid out beneath it. The point of the reasoning being visible is that the report gets read by people who have never seen the property and have to be able to follow it anyway.

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

An appraisal is a free selling estimate an agent offers while competing for a listing, and no one puts their name to it. A valuation is independent of any sale, effective as at a stated date, evidenced by settled sales, and signed. That signature is the whole reason a third party can act on it.

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 somebody else 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 without asking you for anything further.

Who signs the report?+

The valuer who formed the opinion, named on the report with their qualification. Not the model that gathered the evidence, and not an administrator signing in their place. (from $550).

Is an Automated Market Assessment enough for tax purposes?+

No. There is no signature on it, so there is no independent opinion for an auditor, an accountant or a revenue office to rely on. It is a decision-making tool. On timing, a signed desktop report generally goes out the same day and an Automated Market Assessment arrives the next business day.

How long is a property valuation valid for?+

It is effective as at its date and does not stay current on its own. Where the organisation receiving it applies a currency period, that period governs and your adviser will know which one. Plenty of Wahroonga work is written to a date well in the past, where currency is not the question at all.

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, frequently a range chosen to attract interest. A valuation reports settled evidence at a stated date. The two also serve different readers: one is written for buyers, and the other for whoever has to accept the figure without visiting the property.

How long does a property valuation take?+

A signed desktop report is usually ready the same business day. An inspected report waits on access, and where the property is occupied by somebody other than the person ordering, that arrangement is what sets the timeline. An Automated Market Assessment arrives the next business day.

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

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

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