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A formal written assessment of market value at a particular date, prepared and signed by a registered valuer. It records the property, the effective date, the sales evidence relied on and the reasoning, so somebody else can follow how the figure was reached rather than take it on trust.
An appraisal is a marketing estimate from an agent, unsigned and offered at no cost. A property valuation is prepared by a registered valuer, tied to a date, supported by comparable sales and signed. The signature is what makes it a document others can act on.
A property valuer holds a tertiary qualification in property and professional accreditation, usually Certified Practising Valuer status with the Australian Property Institute. South Australia also has its own scheme under the Land Valuers Act 1994, and the valuer who signs works within it.
Yes. The valuer is independent of your fund, the report is written to SISR 8.02B, and the comparable Adelaide sales behind the figure are attached in full rather than described.
A registered valuer, named in the report along with their qualification. The model assembles the evidence; the valuer forms the opinion and signs it..
No. An unsigned estimate has nobody's professional name attached, so it carries no evidentiary weight. It is for working something out, not for lodging it. As for how long a property valuation takes: signed desktop reports usually leave the same day, and an Automated Market Assessment the next business day.
It is an opinion at a stated date, not an ongoing one. As the market shifts the figure describes the past rather than the present. Some authorities set their own limit on how old a valuation may be, so check that with your adviser.
Yes. $169 for signed desktop reports, $79 for Automated Market Assessments.
An advertised price is a negotiating position. A valuation works from sales that have completed, with prices that were actually paid. Where the two disagree, the valuation is describing the evidence rather than the ambition.
A signed desktop report is usually ready the same business day. An inspected report depends on when the valuer can reach the property, which across a metropolitan area this spread out is the part that varies most. An Automated Market Assessment arrives the next business day.
No. Rating valuations are prepared for calculating rates and are assessed at their own date. They are not the same thing as an Adelaide property valuation of the whole property at the date your obligation falls on.