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The Benefit of Property
Valuation |
Professional and experienced advice:-
1. The experienced valuer can provide you with tips on what would add
value to a property, e.g. creating more outdoor living, upgrading the
amenities etc.
2. As professionals, valuers must meet rigorous tests of education,
training and competence and follow a professional code of practice.
3. Avoid legal pitfalls
- The valuers can check the title of the property, particularly for
cross-leased properties, to highlight any issues that you should be aware
of, e.g. an easement (right of way) that crosses two properties might mean
a neighbour could ask you to share the cost of a new driveway or fence.
- A valuer can also tell you about the zoning for the property to minimize
the risk of surprises after you buy the property, e.g. a light commercial
or industrial business springing up next door!
Please note, a valuer does not replace a solicitor in providing legal
advice.
4. Local knowledge
- A valuation provides the benefit of local knowledge about the area
including nearby (and future) developments such as airports, shopping
malls, lifestyle blocks, roading or motorway changes, etc. This is
especially important to consider if you are changing suburbs or moving
into a new area. They?ll also let you know about a property?s subdivision
potential (great if you?d like to extend or build another property on your
land in the future).
5. Save time and money
- If you?re spending hundreds of thousands of dollars on a property, a
registered property valuation is money well spent. It can save you time,
money and property headaches down the track.
6. Your bank may require one
- Many banks only raise mortgages conditional on a registered valuation.
So if you?re really keen on a property, a registered valuation is often a
?must?.
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