Residential Desktop Valuations
Traditional Desktop Valuations
Problem with Traditional Desktop Valuations
Problem with Traditional Desktop Valuations
A traditional desktop valuation is usually computer generated using property data, recent comparable sales and property listings all available online without needing a valuer to physically visit the property.
Problem with Traditional Desktop Valuations
Problem with Traditional Desktop Valuations
Problem with Traditional Desktop Valuations
Traditional desktop valuations are computer generated and usually conducted by unqualified people and thus result in a wide margin of error and thereby are less accurate.
Our Point Of Difference
Problem with Traditional Desktop Valuations
Our Point Of Difference
Our desktop valuations are conducted by qualified valuers resulting in less margin of error and hence more accurate desktop valuations allowing clients to make more confident property decisions.
What are the Requirements to conduct a Desktop Valuation?
Minimum Requirements for conducting Desktop Valuations
The following information is required at a minimum for an accurate desktop valuation to be conducted:
1. Property street address
2. Property land size
2. Property building size and or accommodation description ( i.e number of bedrooms & number of bathrooms.
3. The availability of comparable sales within the last 12 months.
4. The availability of comparable property listings.
The following requirements provide further accuracy in deriving a desktop valuation:
5. The property has either sold or leased within the last ten years.
6. A Google Street view is available through Google Maps.
Desktop Valuations Versus Full Valuations
Which type is best suitable to your needs?
While a desktop valuation is done from the valuers desk, a full valuation requires a valuer to physically visit the property.
Desktop valuations are limited to only residential properties and can only be used for a limited number of purposes including for pre sale and pre purchase, SMSF, capital gains tax (CGT) and asset reporting purposes.
Typically, a full valuation will be required when a sworn valuation is required usually in instances for mortgage lending purposes, family law or other legal purposes , or when the property is commercial in nature, in a rural location, or when the type of property is unique.
During their inspection, the valuer will take pictures of each room, closely examine all the features of the property, note down any recent renovations, record details of zoning restrictions, and produce a list of local area landmarks (i.e. schools, shops) to create a detailed and accurate property report.
Unlike a desktop valuation which can be completed in a few days, a full valuation can take up to a week.
Factors which lead to higher time frames for full valuations include arranging an inspection of the property, the availability of sales data and the time required to prepare a full written sworn valuation report.
Both a desktop valuation and a full valuation are generally valid for 90 days.
Professional Memberships
