Retrospective Valuations
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Knowing the market value of a property will give buyers and sellers an edgein a competitive real estate market. Our expert valuers can provide you with an insight on a property’s true market value. This can help you develop an optimal purchasing or selling strategy.
Retrospective Valuations
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Knowing the market value of a property will give buyers and sellers an edgein a competitive real estate market. Our expert valuers can provide you with an insight on a property’s true market value. This can help you develop an optimal purchasing or selling strategy.
Retrospective Valuation
In most situations, a property valuation report is conducted at current market value with the most recent comparable sales and market trends being analysed to determine the fair market value as at the date of valuation. However, it is not uncommon for a client to require a property valuation report for a date since passed. This is known as a retrospective property valuation report.
A Retrospective valuation can also be referred to as a back-dated or historical valuation and refers to the method of determining an asset’s value at a certain point in time.
Properties cannot (unfortunately!) be valued in the future as no one has a crystal ball to know what the market will do, however, we most certainly can value at a point in the past. Valuers form a view of how the property existed in that time, and compare it to other similar sales of properties from around the area at the same time. This is called the Direct Comparison Approach and is a common valuation methodology.
Common uses for a retrospective valuation report are:
- Taxation such as setting the cost base for Capital Gains Tax
- Deceased Estates
- Property Settlement and Family Law Court
Independent property valuers strive to find the “fair market value” of an asset without bias. It is the fair amount a buyer and a seller would accept and offer for a property in an open market. Often when it comes to buying a property, the listed price is not an indication of a fair price. This is because the listed price tends to consider where the property market is headed and what price could be achieved in the near future.
Here at Vanguard Valuations, we take special care to understand your needs and how to achieve them. This includes investigation into a wide range of resources and asking the right questions to ensure we achieve the best results for you.
Due to our extensive knowledge and utilization of premium valuer resources essential to accurate property valuation, our reports are produced efficiently, transparency, and with the utmost level of care.
Vanguard Valuations can provide accurate and reliable valuation reports on all manner of properties including houses, units, commercial and industrial, rural, and development sites. We cover a large length of the east coast, including capitals of Canberra and Sydney, as well as all rural areas, Wollongong, Western Suburbs, Sutherland Shire, North Shore and Northern Beaches, Hawkesbury, and the Central Coast. We also complete property valuations in all Melbourne suburbs and rural areas.
Here at Vanguard Valuations, we pride ourselves on the efficient delivery of our professional property valuation reports. We will ensure our reports are delivered in accordance with your required deadlines and are happy to cater for urgent requests.
We also provide a highly personalized service that has an emphasis on providing clear, accurate, and succinct property advice, no matter the purpose. Our valuers have access to our huge database, as well as all the most sought after valuation tools.
Vanguard Valuations can have a local certified valuer out to inspect your property within a day’s notice, with reports generally taking 4-5 business days to complete.
To enquire about our fees or to seek further information and advice, please call our office today – you can find our details on our contact us page. Otherwise feel free to fill out your details in our enquiry form and we will get back to you as soon as possible.
