Our professional fee to conduct a valuation inspection and prepare a detailed valuation report varies dependant on the purchase price and/or list price and complexity of the valuation.
THE COST
The cost to value a standard residential dwelling or unit under $500,000 is $350 including GST.
The cost to value a standard residential dwelling or unit between $500,001 and $1 million is $495 including GST.
Rural, rural residential and properties over $1 million can only be quoted on a case by case scenario.
THE PROCESS
- Fill out the valuation request form provided or go to herriots.com.au and go to the Order a Valuation section. Advise us of any extra requirements or specific queries you may have and wish to be addressed in the reporting process. This may incur additional cost dependant on the requirement or query.
- Attach or forward to our email: suncoast@herriots.com.au or fax to: (07) 5444 8155, all supporting documentation including copy of the signed contract of sale including any special conditions, annexures, floor plans (house or unit) and if already done on your behalf, a copy of the title search. We require full disclosure of all matters pertaining to the purchase before we can proceed with the request. We reserve the right to decline the request if sufficient documentation is not provided for our assessment purposes.
- Call our office on (07) 5444 1166 and organize payment of your account following confirmation of the proposed valuation fee. Payment of our account is required prior to our inspection of the property. We accept credit card, cheque or cash.
- Upon receipt of the above we will endeavour to have the valuation returned via facsimile or email with 48 hours. This is dependant on ready access to the property and geographic considerations. We recommend that when a tenanted property is involved that all inspections (i.e Pest, Building and Valuation) be carried out at the same time. In this regard, we will require where possible, 24 hours notice of the intended inspection time. Similarly, tenanted properties require 24 hours notice before an inspection, so this will delay our reporting process accordingly. We are mindful of the fact that a 5 day cooling off period is a tight time frame to carry out as much due diligence as possible and ask that as a purchaser or prospective purchaser, you make the decision to engage the service of whichever professional you require (i.e Pest, Builder or Valuer) as soon as possible after signing a purchase contract. Ideally, the process can work more in your favour if you request a valuation prior to signing a contract (Pre-Purchase Valuation). We can advise of any issues which should be bought to the vendor's attention (as part of the negotiation process) or any issues which may affect the property, such as pest infestation, building compliance etc.
- We have attached a list of lenders who regularly employ our services, should you wish to utilise our valuation report for your finance application purposes. We require your advice proper to valuation completion, if you choose to include Mortgage Security Purposes as part of the reporting process. This does not affect the assessed market value but changes the report structure to include prospective lenders requirements.
THE REPORT
A detailed ten (10) page report on the property is provided which includes evidence of recent comparable local sales within the immediate area which have been used as a comparison in valuing the subject property, floor area calculations and local market summary. In addition the report will include: a site plan, title search (if not already provided) and building or survey plan - for units.
Should you have any further queries or concerns, please feel free to contact John Rhule Partner- Herriots Sunshine Coast on (07) 5444 1166 or 0419 655 203
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