The Role of a Valuer:

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The role of the registered valuer is many and varied.  A registered valuer can advise on all classes of property from residential, lifestyle, rural, industrial and commercial. 

The registered valuers prime responsibility is to make judgements about the value of a particular property to enable others to make informed decisions about lending, investments and pricing.  Lenders often require a valuation from a registered valuer when a property is being used as security for a loan. 

Property valuation is a professional occupation with standards and practices governed by legislation (Valuers Act 1948) and the Valuers Registration Board.  In addition all valuers are required to belong to the Property Institute of New Zealand who in part are responsible for ongoing professional development.

Process:

When requesting a valuation the process generally begins with the client/valuer discussing the basics such as purpose for valuation, location, time frame for reporting, inspection time and costs likely to be incurred.

The registered valuer will then obtain a certificate of title to check on any entries, easements or covenants that may affect value. 

The physical property inspection is generally the next process.  The registered valuer will visit the site taking measurements, examining the condition of the interior and exterior, noting such things as design and layout, quality, fixtures and fittings, site development (garages, decks, fencing etc) and where necessary any deferred maintenance items. 

It is important to note that a valuation report is not a structural survey.  Obvious faults will be reported to the client so they may obtain or commission a builders report if so required.

The resultant report will cover these issues along with providing a summary of sales evidence which supports the registered valuers opinion.  Recent comparable sales are the most compelling indication of market value and along with local knowledge and expertise form the basis of any registered valuation.

If you have any further enquires feel free to contact the team at Registered Valuation Services on 07 8567646.