Land valuation is the process of determining the value of a property. It involves:
- inspecting the property
- confirming legal ownership
- comparing the property to similar ones in the area that have recently sold
- checking other factors like how easy it will be to sell the property.
Land valuers provide valuations of many different types of property, including:
- residential
- commercial
- industrial
- rural, and;
- horticultural properties.
You may need to use the services of a licensed land valuer for a variety of reasons. Land valuers can help you
- determine what a property may sell for if offered for sale
- establish the fair market value for payment of transfer duty
- determine market value for income tax liability
- determine a rental amount for a rental agreement
- settle a marriage or business disputes during the course of court proceedings
- assess the suitability of a property for mortgage security when taking out a loan.
Fees
Land valuers set their own fees. They must provide you with a written disclosure of all service fees before you enter an agreement. They must not charge a higher fee than the disclosed amount unless there is a significant change in the scope of work.
More information is available from the land valuers page.