Frequently Asked Questions

Common Questions

• What does a registered property valuation involve?
  A registered property valuation involves:
  
  - A valuer will undertake a detailed inspection of the property, noting the floor area, the age, quality and condition of buildings, the physical attributes of the land, site landscaping and development, location and distance to public amenities. Property photographs are taken.
  
  - Legal (property land title) and Resource Management information is obtained and considered.
  
  - Recent comparable property sales are identified, viewed and analysed.
  
  - Property valuation calculations are done and are considered
  
  - Property Valuer contacts client with valuation figures
  
  - Valuation report is completed in accordance with PINZ/NZIV standards and relevant legal statute.
  
  - Delivery of report to client in either hardcopy and/or electronic format
• What types of valuation does your company undertake?
  We provide a wide range of valuation and property consultancy services, including:
  - Residential (including new home build ‘plans and specifications', 'as if complete’ and ‘progress payment’ valuations)
  - Lifestyle
  - Commercial
  - Industrial
  - Insurance
  - Rental Reviews
  - Development
  - Rural
  - Compensation
  - Consultancy
• What is a current market value?
  Under the International Valuation Standards Committee (IVSC) and PINZ Standards, market value is defined as:
  
  “the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion”.
  
• When would I require a Registered Property Valuation?
  There are a number of circumstances where a registered property valuation is required. Some examples of these are:
  - Pre-purchase and pre-sale market valuations to assist clients to make an informed decision
  - A lending institution such as a bank may require a registered property valuation that states the value of assets they are lending against
  - To determine the replacement cost of building(s) for insurance purposes
  - To assess the level of compensation where land is taken or is affected by a proposed public work such as roading, transmission lines.
  - To determine the market rental of a building and /or land at rent review time.
• How long will the valuation take?
  The on-site inspection will take approximately one hour but will depend on the nature of the property. We aim to complete the valuation report within three working days however we urge clients to discuss with us the required time frame when the instructions are given, especially should there be an element of urgency.
• How much will a Registered Property Valuation cost me?
  We endeavor to provide the highest quality advise and valuation report within the agreed time frame, at a reasonable and competitive cost. The fee for a registered property valuation will depend on the nature of the individual property and in most instances, a quotation can be provided.
  
• What will my fee include?
  - An on-site inspection of the property
  - Consultancy relating to the individual property
  - A full valuation report including:
      i.A thorough analysis of your property
      ii.A full local property market assessment and overview
      iii.A list of comparable sales that are used to assist us in deriving the value of your property
      iv.Liaising with you, your finance provider and other associated professionals
      v.Complete and independent advice
• Will my bank/lending institution accept this valuation?
  Yes our valuations are accepted by all major lending institutions including banks, finance companies, building societies, mortgage brokers and mortgage underwriters.
• Which areas do you cover?
  We cover all Waikato, Thames Coromandel and Western Bay of Plenty areas including Hamilton City and all surrounding towns such as Morrinsville, Matamata, Cambridge, Te Aroha, Te Awamutu, Te Kuiti, Ngaruawahia and Huntly. We also cover the Hauraki District including towns such as Ngatea, Paeroa and Waitakaruru, along with the entire Thames & Coromandel Peninsula comprising Whitianga, Pauanui, Tairua, Coromandel, Matarangi, Whangamata, Thames Coast and Waihi. Waihi Beach, Katikati, Athenree and Bowentown are all found in the Western Bay of Plenty Region and we also undertake valuations in these areas.