What does the Property valuation Report consists of?

The valuation report is a comprehensive report that helps you determine the fair market value of residential property in Australia. Key features of the valuation report is the estimated value of the property deriving by the online valuation modular system or manually by the property valuator. There are multiple figures categorized in many sections that use statistical methodologies to assign a current market value to the property.

The property details consist of:

•  Title deed Number
•  ERF/Unit Details – as per Australian Deeds Registry
•  Street Address
•  ERF/Unit Size
•  Lat/Long Coordinates
Ownership Detailing is also provided as per the deeds registry.

In addition to what is shown above, the valuation details on:

•  Last sale date and price
•  Estimated Value – value of property statistically generated
•  Safety Score – 90% surety that there is probability that the values will be sold for the same estimated values. The estimated value is not an over prediction
•  Other values are: Accuracy score vale that shows whether the probability of the estimated value is accurate.
•  The expected high and low values are also provided with it

In addition to what is shown above, the valuation details on:

Also the Municipal Valuation details are attached that show assessed rates value and zoning or usage of property. Some reports also provide a recent numbers of comparable sales and with an offer to purchase that in under process. Most Property Valuation Report contains the information necessary to make an informed decision if you’re thinking of buying, selling or are simply curious about a property. It is compiled from the best data sources available.

Property Buying and Selling In the Rural Areas

Though we mostly talk about property buying and selling that happens only in the towns and cities, we often fail to recognize the fact that there is a big amount of property dealings that happen in the villages and in the countryside. However, unlike cities and towns where the sale is usually restricted to homes, apartments, commercial properties, offices or even factories and warehouse, when it comes to the rural areas, it include all of the above and also land. Land dealings are perhaps the biggest as far as rural real estate property buying and selling is concerned. This is because there are scores of landowners who would like to either buy their existing landholding or buy new lands for various purposes.

Lands in rural areas are mostly used for the purpose of cultivation or for some other similar purpose. They are seldom used for building homes and apartments. Cultivation lands are required quite regularly even by those who have sizeable landholdings with them. This is because they may need to increase their cultivation quite substantially to meet increasing demands. Further, in rural areas, wine making and wine brewing is a very big industry. Hence, there always would be the need for land for cultivating and growing of different types of fruits and raw materials that are required for increasing the capacity of the wine manufacturing units.

Whenever a property is bought or sold either in the rural areas or urban areas, the process of transferring ownership is one and the same. This process of changing ownership from the buyer to the seller is known as valuation plays an important role in enabling the name of the buyer being reflected in the government books of records. However the process is quite complicated and there are a number of formalities and steps that has to be gone through.

There are many professionals whose roles are important as far as property valuation is concerned. They include real estate lawyers and attorney, property appraisers, documentation professionals and other administrative resources. While the role of each and every one of them could be the same for both urban and rural buying and selling the role of property appraisers could be quite different. Valuation of a rural land or rural property is not the same as valuing of an urban property. The parameters are different, the yardsticks are different and even the method of valuation could also be different. Hence, there is bound to be slight differences in the way urban and rural properties are valued.