29 Dec Tips for Choosing the right Residential Property Valuer
When entering the real estate market, it can get quite overwhelming with the amount of people involved in the process. Whether you want to buy, sell or rent, taking advice from a property valuer is essential in making a well informed financial decision in finalising any property deal.
From the onset an expert valuer should be well experienced, fully licenced and certified, totally independent and familiar with the locality of the property to determine an accurate valuation figure.
So before parting with your hard earned cash for a valuation, we will take a deep dive into how to choose the right residential property valuer that you can trust?
Are they fully licenced and Certified?
Not only ensure the property valuer is fully licenced and qualified with the API (Australian Property Institute) and holds a CPV (certified practicing valuer) accreditation, it is also important to confirm that they are up to date with Continuing Professional Development and Risk Management Module Certificates. Don’t hesitate to ask the valuer for these documents before you proceed any further.
Are their reports legally approved and recognised in Australia?
By confirming the property valuer has all the necessary accreditations will ensure that the valuation is legally approved and recognised within Australia as well as being fully compliant with all government departments. These valuations are known as fully certified or sworn valuations which are considered as the most authentic “true and correct” legal reports for court proceedings. Always look for these accreditations to avoid legal complications in the future.
What happens if I need the residential valuer appear as an expert witness in the courts?
In some cases when there is a property dispute, the valuer is required to sign an affidavit to acknowledge that the report they have provided is true and correct. If there is a good chance that the legal matter will progress through the courts and they are not will willingly to appear as an expert witness and endure cross examination, you should reconsider before proceeding with this valuer.
What is their specialisation?
Valuations are required in many different areas. When choosing your property valuer, find someone who specialises not only in residential property but a valuer who knows the area intimately. Having a valuer who is knowledgeable and well experienced within the suburb will understand niche’ pockets and streets which achieve higher prices. On the other hand, which streets are underperforming. This will ensure you have the right residential property valuation specialist that will ensure an accurate valuation backed by quality comparable sales evidence in addition to an entirely smooth and efficient process.
Is their process method available for you to consider?
The property valuer should be transparent about the entire process of the valuation from the start to the finish. This will give you a better understanding of what is required from you and also what are the necessary steps on their end. Giving you a much better understanding of what obligations are to be expected.
Have you considered their costs?
Hiring a property valuer is an additional expense to you when in the process of buying, selling or renting. Before choosing your property valuer, ensure you have asked about their fees, additional charges or possibly packages available. Some valuers charge as per the estimated property value, report type, property location (whether being in the metro or country area), some charge as per the services they will provide or possibly even a combination of both. Make sure you know what you’re getting into and what you’ll be paying for before you decide on a property valuer.
Do they have positive reviews and testimonials?
Read reviews and testimonials on the organisation as well as the property valuer you’re thinking of choosing. Positive reviews and testimonials show evidence and give reassurance that you’re choosing the right person for the job. It will also provide you with insight into what you should expect from them.
Choosing the right property valuer can be overwhelming but if you follow these tips, your property valuer will ensure the process is smooth and efficient.
Blanco Property Group valuers are fully licenced and certified within Australia. Get in touch with our friendly team today to see how we can help!