The Long Form Valuation require a full internal inspection and a full field assessment of sales evidence directly relating to the subject property as well as other factors including field calculations, market direction, volumes, market segments, market sentiment, supply and demand, environmental issues amongst other information deemed necessary by the valuer. The Long Form Valuation will have a maximum of information as appropriate within the report to fully address the issues required to be addressed and include all essential ingredients required by the API’s requirements for valuation reporting. The Long Form Valuation usually will contain a minimum of 10 pages and expanded according to required outcomes of the report.
Examples where a long form Valuation may be used include;
- Market Value
- Stamp Duty
- Specialised Valuations
- Acquisitions and Resumptions
- All property types can be valued using the Long form Valuation method.
- Residential, commercial and industrial property may be valued in this manner.
- The valuation is subject to internal and external inspection, adequate supplementary information being available for the valuation, also, clear and concise sales evidence need to be available to support the value.
1. How much will a Short form valuation cost me? It will vary but the average cost of a ten page report is generally $1200 including GST. Please bear in mind that some matters may be extremely complex and the fee will need to be assessed upon receipt of the application. After we review the application we will provide you with a complete list of information we require, which may include a statement of income, expenditure, land tax, copies of leases for commercial property or survey documents for development and subdivision proposals amongst a whole host of other information.
2. How do I apply to have the Long form valuation undertaken? Click this link and fill in the form and press the “Blue button”. Our trained staff will view the application and determine whether the valuation can proceed and advise the required fee.
3. How long does it take for the long form valuation to be returned to me? We generally have a 10 day turnaround but this may vary in certain circumstances, depending upon information provided or required it may take a full month or so.
4. What are some of the inclusions in a Long form valuation? Generally our reports will include:
- Executive summary Executive Summary
- Property Summary
- Valuation Summary
- The Land summary
- Main Building detail
- Location profile
- Ancillary Improvements
- Sales Evidence
- Calculations if required
- Any Additional Comments
5. Do you have to go onto the property at all? Yes
6. Do I have to own the property to have it valued? No, if a short or long form valuation has been requested and internal inspection will be required therefore this may be necessary to gain access via the owner, landlord or agent. Please note, if the property is leased strict time guidelines need to be adhered to enter the property, in some cases a ‘notice of entry’ will be required to be served on the tenant, but we find this is rare.