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Hastings, New Zealand

P: +64 6 878 9142
F: +64 6 878 9129
E: sw@snowwilkins.co.nz

 
 
Valuation Questions Below is a list of the most frequently asked questions:

What will a Valuer do?
•  Pre-inspection
•  Take down instructions from client
•  Gather information about the property
•  Gather information about comparable sales
•  Inspects Interior & Exterior of Property
•  Records information about the construction, fixtures and fittings and the condition of them
•  Measure the improvements and calculate the floor areas
•  Look at comparable properties that have sold
•  Analyse the value of the property using recognised valuation methods which usually include:
   -  Comparable Sales Approach
   -  Depreciated Replacement Cost Approach
   -  Income Approach
   -  Provide a detailed valuation report with the clear instructions for the purpose of the valuation, a market value of the  property and a description of the property's physical and legal characteristics. 
   -  Report will be completed in accordance with NZIV & PINZ recognised practice standards and guidance notes

What is usually included in a valuation report?
Most valuation reports are fairly similar and usually have the following information.  However some reports may have less or more information depending on the purpose or the type of property being valued. 
•  Purpose of Valuation and instructions from whom
•  Summary description of property
•  Current Market Valuation
•  Photograph of property
•  Analysis and methodology of value
•  Legal Description
•  Resource Management particulars including zoning
•  Location Description including School zoning
•  Land Description and characteristics
•  Market Commentary
•  Description of buildings and other improvements

What is a Rating Valuation?
Rating Valuations are completed usually on a three yearly basis for local and district council rating purposes.  They are based on mass appraisal techniques, do not include chattels and in many cases the subject property has not been inspected in order to establish its value.  It is our opinion that this should not be relied upon in order to set a current market value of your property. 

What is the cost of a valuation?
Most property has different characteristics and therefore our fees can fluctuate depending on the time it takes to value the property.  Also the purpose of the valuation can cause fluctuations in cost.  We have an extensive property database with due diligence completed on a very high percentage of properties.  This therefore reduces some of our time required in completing a valuation report and thus this cost saving can be passed onto our clients.  If you give us a call or fill in our instruction sheet we are able to offer you a no obligation quote to complete a valuation report. 

How long will it take to get the valuation report?
For residential reports we usually have a 6 to 24 hour turnaround depending on access availability.  We can provide the report to you or whomever you instruct us to send it to via email instantly once the Valuer has signed the report off.  Other types of report usually take 12 hours or more depending on how complex the property is. 

 

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