Current Market Value
Valuations VIC provides Current Market Valuations for a variety of purposes, including: Capital Gains Tax Deceased Estate Family Law/Settlement Pre-purchase Pre-sale Property Settlement Retrospective Separation Stamp Duty Superannuation Fund
What is a market valuation?
A market valuation is basically the amount you could sell your property for if you were to sell it on the open market today. The formal definition of market value as defined in case law is ‘the amount that should be paid for an asset at a particular point in time, between an informed willing buyer and willing seller acting prudently, conscionable and without compulsion and after a proper marketing campaign'.
Why do I need a market valuation report?
There are many circumstances one would require a market valuation. Most commonly market valuations are sought by banks for mortgage security purposes. The general public seek market valuations for pre-purchase, pre-auction, pre-selling purposes or to find out how much equity they have in their property. This can help the client make an informed decision when purchasing and selling a property or for portfolio and investment purposes. These days there is a tone of information freely available about property online, however professional interpretation of this data is often necessary to avoid paying too much or selling for too little.
What’s in a market valuation report?
When it comes to valuation reporting, you have the option of getting a short form and a long form. For most instances a short form report is recommended and will suffice. Long form reports provide more information and explanation and hence cost more. Long form reports are typically used for litigation matters, high-end property or when a client requires more detailed information.
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