Frequently Asked Questions

 
Q1. What qualifications does the valuer have?
  • Bachelor of Economics
  • Associate Diploma in Valuation
  • Certified Practising Valuer
  • Registered Valuer NSW, 2593.
Q2. How much experience does the valuer have?
Senior Valuer with 31 years valuation experience.
Q3. How much local valuation experience does the valuer have?
26 years local valuation experience on the Northern Rivers.
Q4. Is the valuer a local?
Stephen was born, raised and educated on the Tweed and returned to the Northern Rivers after higher education and city valuation experience. His family have lived on the Tweed and Northern Rivers for six generations.
Q5. What types of property do you value?
All property types, including residential, rural lifestyle, hobby farms, rural enterprises and smaller commercial and industrial properties. Generally, valuations of larger commercial and industrial properties, shopping centres, hotels, liquor stores, nursing homes, motels, child care centres and service stations are undertaken by larger organisations with specialist valuers and extensive statewide and nationwide data bases. Northern Rivers Valuations specialises in residential, lifestyle, rural and smaller commercial and industrial properties and are not distracted by the demands of specialist commercial valuation work.
Q6. Does the Northern Rivers Valuations undertake valuations for the purpose of securing or obtaining finance or mortgages?
No. Northern Rivers Valuations does not undertake valuations for mortgage security or finance purposes.
Q7. What areas does Northern Rivers Valuations service?
We service Tweed Shire, Byron Shire, Ballina Shire and Lismore City Local Government Areas. Towns and localities serviced include:- Alstonville, Angourie, Ballina, Bangalow, Banora Point, Bexhill, Bilambil Heights, Bogangar, Brooms Head, Brunswick Heads, Byron Bay, Cabarita Beach, Casino, Clunes, Coorabell, Dunoon, Evans Head, Federal, Fingal, Hastings Point, Iluka, Kingscliff, Kyogle, Lennox Head, Lismore, Maclean, Mullumbimby, Murwillumbah, Nimbin, Pottsville, Ocean Shores, Suffolk Park, The Channon, Tweed Heads, Tyalgum, Uki, Ulmarra, Woodburn, Wollongbar, Wooli and Yamba. Other areas are also serviced by request.
Q8. Does Northern Rivers Valuations service any other areas?
Yes, other parts of NSW can be serviced on request.
Q9. What information should I provide when the property is inspected?
A copy of the house plans greatly assists the valuer.
Q10. Will the valuer need to inspect inside the house, unit or improvements?
Yes. The property will need to be fully inspected internally because the internal condition of the property is an important consideration in determining the market value of the property. Internal photographs will be taken of the kitchen and bathroom and other internal photographs will be taken if necessary as appropriate.
Q11. How long will the inspection take?
Inspection times vary due to the size of the property and structures and whether building floor plans are available to the valuer. Residential properties generally require 1 hour. Rural properties generally take 2 hours, depending on the size of the property and structures.
Q12. What is the procedure for tenanted properties?
Tenanted properties will also need to be inspected internally. The valuer will arrange with the managing agent or the tenant for access. Usually the valuer organises an appointment with the tenant to allow access to the property at a convenient time for the tenant – after the tenant has been advised of the valuer’s need to inspect the property by the managing agent.
Q13. Does anyone need to be at the property for your inspection?
Yes. An adult must be present during the inspection. Tenanted properties require either the tenant or the agent to be present. The valuer will not collect keys for a tenanted property, but he will collect keys for a vacant property.
Q14. What can I do to assist the valuer?
Make a copy of the plans of the building available for the valuer’s perusal if they are available.
Q15. What type of valuation report should I request?
There are several report formats depending on the type of property being valued and the reason for the valuation. All valuation reports are detailed reports and they are guaranteed to comply with the requirements of any government department or statutory organisation.
Q16. What will the valuation report include?
  • Legal Description
  • Site Area
  • Encumbrances
  • Zoning
  • Location
  • Surrounding neighbourhood and development
  • Roads and Access
  • Services and Amenities
  • Land Description
  • Improvements description
  • Valuation considerations
  • Valuation approach
  • Market considerations
  • Reconciliation of sales evidence
  • Independent assessment of the current market value of the property
  • Sales evidence
  • Photographs
Q17. Does the report cover building defects?
Valuers are not qualified building construction or structural experts and therefore they are unable to certify the structural soundness of the improvements. It is recommended a Pest and Building report and the advice of relevant experts should be obtained to consider these issues.
Q18. How long will the valuation report take to complete?
Residential and small rural lifestyle properties generally take  5 working days to complete.  
Q19. Can you provide a valuation of my property at an earlier date?
Retrospective valuations can be provided if required. Retrospective valuations are often required for Capital Gains Tax and Probate purposes.
Q20. How do I pay for your services?
Payments can be made online by Electronic Funds Transfer (EFT). Funds can be deposited at a Westpac branch or cash can be provided to the valuer on the day of inspection.

Q21. Is the cost of a valuation tax deductible?
The valuation is generally only tax deductible if the property is held for investment purposes and it is generating rental income. Ask your accountant or tax advisor for details.
Q22. Do you provide Tax Depreciation Schedules for ATO?
No. Tax Depreciation schedules for ATO are generally undertaken by a qualified Quantity Surveyor.
Q23. What qualifications are required to be a Certified Practising Valuer?
A valuer must complete an API accredited Higher Education Bachelor Degree and undertake two years of property related work experience. Valuers must be registered under the Valuers Act, 2003. Only qualified valuers are recognised by courts of law and tribunals as experts in the real estate market.

 

The aforementioned information is only general in nature and it is not intended to constitute professional or legal advice. Please contact your accountant, solicitor, financial advisor, Office of State Revenue or relevant government authority for specific advice relating to your situation. See Disclaimer

Contact Steve for further enquiries.