Straight answers, no sales call

Which property, which title: Neutral Bay property valuation questions answered.

If yours is not below, ask a real valuer and a valuer picks it up.

Acceptance & compliance

What is a property valuation?+

A valuer's signed opinion of what a property was worth on one nominated day, with the comparable sales and the reasoning set out beneath it. In Neutral Bay it also has to be unambiguous about which property, because a street number here routinely covers a great many separate ones.

What is the difference between a property valuation and an agent appraisal?+

An appraisal is a free selling estimate offered while an agent competes for a listing, and nobody signs it. A valuation is independent of any sale, effective as at a stated date, evidenced by settled sales, and signed by the valuer who reached it.

Who is qualified to prepare a property valuation?+

In New South Wales, a valuer with the professional qualification and standing to have their opinion relied on. Their name and credentials appear on the report, which is exactly what allows a third party to act on it.

Timing & process

Will the ATO and an SMSF auditor accept the report?+

Yes. A valuer independent of your fund prepares and signs it, SISR 8.02B is the standard it is written to, and the comparable sales are attached rather than summarised, so an auditor can follow the figure back to its evidence.

Who signs the report?+

The valuer who reached the opinion, named with their qualification. Not the model that gathered the evidence, and not anyone signing in their place..

Is an Automated Market Assessment enough for tax purposes?+

No. Nobody signs it, so there is no opinion in it that an auditor, an accountant or a revenue office can act on. It exists to help you decide. On timing: a signed desktop report usually goes out the same day, and an Automated Market Assessment arrives the next business day.

How long is a property valuation valid for?+

It is effective as at its date rather than open-endedly. Where the organisation receiving it applies a currency period, that period governs, and your adviser will know which. Ordering close to when the figure is actually needed is usually the simplest way past the question.

Pricing & orders

Are the prices really fixed?+

Yes. $169 for signed desktop reports, $79 for Automated Market Assessments.

Why is the valuation different from the price a property is advertised at?+

An advertised price is a marketing position, often a range set to attract interest. A valuation reports settled evidence. In Neutral Bay a campaign can point at a sale in the same building and say very little about how the two properties actually differ.

How long does a property valuation take?+

A signed desktop report is usually ready the same business day. An inspected report waits on access, and here that can mean coordinating with a tenant, an agent or a building manager rather than one person. An Automated Market Assessment arrives the next business day.

Is market value the same as the value on my council rates notice?+

No. A rates notice generally carries a land value, the ground on its own with nothing built on it, struck for rating at a date the council chose. For most Neutral Bay property that ground is shared with everything else in the same building, so the rating figure is describing the site rather than your property at all.

Something else to settle about a Neutral Bay valuation?

Ask a valuer Order a valuation →