The question is always asked: why would you waste your money getting a property valuation? There is no need, it’s not worth the paper it is written on.
The truth is, as a leading provider of property valuations within Melbourne, if you don’t get a property valuation, your transaction may fall below expectations desired results to not achieving all your KPI’s and if not your own, your lender’s KPI’S.
As the leading property valuation entity in Melbourne, both within the Commercial and Residential sectors, we are fully aware of the real estate market, its participants and the ‘rules’ of play governing the majority of real estate transactions . In short, there are few, if any, transactions that do not have an associated valuation.
The other issues that also play out are property valuations are not just for mortgage security purposes but are also utilised for a host of other legal issues that can only reply upon a property valuation.
One that comes to mind simply, is a ‘Family Law’ matter having parties in dispute as to the value of a real estate asset. The Court of Law will only rely upon a property valuation from a Certified Practising Valuer, and in simple terms, an agent’s opinion is only an opinion.
As the leading valuation company providing property valuations in Melbourne, we are cognisant that most, if not all, transactions have an associated property valuation, may it be for funding, taxation, succession or Stamp Duty purposes.
Property valuations can be used for the following broad uses: Mortgage/Refining Current Market Valuations Retrospective Valuations Acquisition Purposes Disposal Purposes Rental Assessments Stamp Duty Purposes Self Managed Superannuation Family Law Purposes Owners Corporation Insurance Valuations Capital Tax Valuations Probate/Estate Purpose Valuations Succession Planning Taxation PurposesThe above is a broad and short list of why a property valuation is so important when one holds a real estate property.
Not only should the reason to obtain a valuation.The current real estate market is like no other. In simple terms, information available is wide and varied. Importantly and succinctly, to camouflage a sale is an easy task, to interpret and analyse with quantitive skills provides an accurate assessment of value. Without a legal property valuation, you are at the mercy of a market system that prides itself on the ‘wood duck’, regardless of commercial or residential real estate.
We live in a lucky country and have been living in an economy that in real terms, ‘workships’ real estate, and in simple terms, property has been the defining asset wealth creator for many owner occupiers and investors alike. At this point of time, although media coverage would suggest otherwise, the tides are turning; you need cover off on all bases. FVG Property as Melbourne’s leading property valuation providers allows you, our valued client, with a third party an independent view from a fully qualified professional property.
It is critical that a property valuation forms part of your usual decision making process when considering a real estate transaction.
Property Valuations Melbourne allows specialised knowledge base, comparable sales and local market knowledge. A third party driver to provide a property value allows comfort in a decision making process that could derail from those parties that trust the usual suspects of property consultants and sprukiers.
A property valuation allows a large degree of comfort due to its legal nature. Eight reasons why you should consider getting a property valuation before selling or buying:1. To understand the difference between price and value. Price is what you pay the vendor. Value is what your property is worth and can be accurately assessed by a competent qualified valuer.
2. To guide your investment/buying/selling decisions. A property investment is one of the biggest decisions you will make, yet people make them without any objective advice. On the other hand, people always seek qualified financial advice when making other investment decisions.
3. For an objective assessment. A reputable valuer is objective, an estate agent acts on behalf of the vendor. The aim of an estate agent is to get the maximum price for the vendor. Relying on the estate agent to set the price could see you paying over the odds. Choose a Certified Practising Valuer (CPV).
4. A reputable valuer is objective, an estate agent acts on behalf of the vendor. The aim of an estate agent is to get the maximum price for the vendor. Relying on the estate agent to set the price could result in you paying over the odds. Choose a Certified Practising Valuer (CPV).
5. Personal attachment can cloud judgment. Everyone forms emotional attachments to the homes they live or a property they wish to buy, which can affect how much they believe they are worth. An independent valuation can provide some clarity and prevent unrealistic expectations. If you are selling, a valuation can provide a good idea as to what you can realistically expect it to sell for – it may in some cases be more than you think it’s worth.
6. A valuation is a legally binding document and so can be a valuable document when negotiating with buyers/vendors and if any disputes arise.
7. A valuation is tax-deductible if the property is held for investment purposes. So you get an objective assessment of the value of your property and can claim the cost as a deduction from your annual tax assessment.
8. Prevent any financing shocks. This is particularly an issue if you are buying an apartment off the plan or a house-and-land package, where the price you pay may be affected by rebates, incentives, developer profits, marketing costs and a change in value over time. A lower valuation may require a buyer to dip into the hip pocket or be forced to take out lenders mortgage insurance.
Make sure you obtain a certified property valuation from Melbourne’s leading valuation company – FVG Property Consultants and Valuers.
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