Is property valuation report all about a single number that states the fair market value of a property or does it have some other significant pieces of information? This is a common question that we often come across whenever we hear about the term property appraisal or valuation. Though there is little doubt that a property report mainly contains information pertaining to the fair market value of the property that is being bought or sold, this is not the only information that one gets from it.
It has quite a lot of other useful and pertinent information about which we will try and discuss over the next few lines. A good property valuer does not end his task just by pointing out what he feels is the fair market value of the property in question. He goes much beyond that. When one looks up professional valuation report, he or she will find that it has lot of other useful and substantive information thought it may be only subjective in nature.
For example, a good valuation report will talk about the legal status of the property. though this is primarily the job of the property lawyers, Sydney Valuer also put in their bit and find out more about the legal status of the property in question. They also physically look up the property and compare the actual details with what is available in the property documents and title deeds. This helps them to bring to light easements and other encumbrances which might otherwise have remained hidden.
There is also the mention of the area development in a good valuation report. It will make a mention about the level of development of the infrastructure, the availability or otherwise of various facilities or amenities and might also share information about the quality of people who make up the neighborhood. All this information will certainly go a long way in helping buyers in particular to take a very informed and objective decision.
Hence there is no denying the fact that merely mentioning a valuation report as a piece of paper would be wrong. It contains very valuable information. Banks, financial institutions, government departments and property lawyers use these reports for various purposes. These reports are often considered the benchmark by these highly respected institutions and individuals. Further, valuers pay a lot of attention to details and ensure that the reports are submitted well in time because of some demanding timelines that it might have.