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Fairfield 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 set out beneath it. The reasoning is not decoration: where only a few sales are genuinely alike, the account of why those ones is the substance of the report.

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

An appraisal is a free selling estimate produced while an agent is competing for the listing, unsigned and committing nobody. A valuation names its date, names its evidence, and is signed by the valuer who reached the view.

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 a third party 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.

Who signs the report?+

The valuer who reached the opinion, named with their qualification. Not the model that gathered the evidence, and not anyone signing in their place. (from $550).

Is an Automated Market Assessment enough for tax purposes?+

No. Nothing in it carries a signature, so there is no opinion an auditor, an accountant or a revenue office can act on, and no valuer has weighed which comparables belonged in it. It is for deciding. On timing: a signed desktop report usually 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 rather than open-endedly. Where the organisation receiving it applies a currency period, that period is what counts, and your adviser will know which. In a market that moves slowly the figure often holds its shape longer than the paperwork allows, and the paperwork still wins.

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, often a range set to attract interest. A valuation reports settled evidence. Where few properties nearby have sold recently, an advertised range has very little holding it down, and that is precisely where the two part company.

How long does a property valuation take?+

A signed desktop report is usually ready the same business day. An inspected report waits on access, though in Fairfield somebody is usually home and that step tends to go smoothly. 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 generally carries a land value, the ground alone with nothing built on it, struck for rating at a date the council chose. A valuation covers the whole property at the date you need it, and it shows you the sales behind that figure, which a rates notice never does.

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