Highlights
Prepare a full long-form valuation report of a single detached residential dwelling cottage property which is more than 10 years old. It must be freehold title and may be occupied. Unless you reside in New South Wales, the subject property must be in N.S.W.; externally enrolled interstate or overseas students do not have to comply with this restriction. Further criteria: ? The subject property must have a reasonable curtilage. It is prudent to select a property with no significant latent development potential in the foreseeable future. ? The property may be valued on a vacant possession basis but can be owner occupied at the date of valuation. We recommend & always prefer fee simple in possession. ? Mortgage security is explicitly stipulated for valuation purposes in accord with. 8.2 ANZVGN 2 Valuations for Mortgage and Loan Security Purposes and risk analysis will be a key focus. ? Similarly, on-completion, rental; financial reporting/balance sheet; statutory, acquisition/disposal or stamp duty valuations are to be expressly avoided. Insurance valuations are not allowed nor forced sale value. ? A secondary check method of valuation is compulsory.
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