Valuers in Sydney, NSW

Discussion in 'The Buying & Selling Process' started by Koalalui, 12th Dec, 2019.

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  1. Koalalui

    Koalalui Active Member

    Joined:
    31st Jan, 2019
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    Location:
    Sydney
    Anyone know of a decent property valuer in Sydney (lower north shore areas) for the purpose of future CGT? i.e. the higher value the better

    Previously was PPOR and planning to turn into an IP

    Long story short, having a headache now as the valuer I paid turns out a bit.......
    First, the company demanded I paid before the service delivered. Secondly, the invoice that they sent me, stating an incorrect address. I realised after I paid then asked them to amend the invoice, the company refuse to do so !

    And now, I was told that the valuer or the inspector does not necessary need to access into the property, it is more like a "drive by" valuation ! I am completely shock with the price I paid, it's a "drive by" valuation.

    I wonder how the valuer can "actually" value the current conditions of the property, whether I did renovations or not, the valuer would not be able to find out if he only "drive by" to value the property outside

    Also, wondering if I can have the valuation reports done after the tenants move in and retrospectively date back the valuation reports?

    Any info would be greatly appreciated, thank you very much.
     
  2. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    You spoken to your PM ? They may be able to provide a opinion based on recent local sales. Free maybe ? You can even DIY if you retain the objective evidence. A reg valuer doent need to do this.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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  4. Thomacino

    Thomacino Well-Known Member

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    Location:
    NSW - Sydney
    Shame your encounter with a valuer was distasteful..

    Do note, payment prior to report issuance is the norm as requesting payment after report delivery can be difficult.

    A drive by or kerbside valuation for CGT purpose is acceptable only if the valuer cannot gain access to the property, usually in the case of retrospective CGT's. That said, this is agreed during the initial stage as kerbsides are much cheaper than a long form.

    No valuer should determine a value without physically sighting the subject property.. that is just lazy and asking for trouble..

    The date of valuation is usually the date of inspection, as the valuer determines the value of the asset at the date of inspection.

    If it is difficult to arrange access, the valuer will disclaim that there are no changes from date of inspection to the requested date, within reason of course.
     
  5. Koalalui

    Koalalui Active Member

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    31st Jan, 2019
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    Location:
    Sydney
    Hi all, thanks for the info and recommendations and PMs. It's definitely a learning curve here re getting an independent valuation done. It's all sorted now, thanks again :) Luckily, I did not put all of my eggs into one basket and did bit of valuation shoppings i.e. get a few valuations done
     
  6. Koalalui

    Koalalui Active Member

    Joined:
    31st Jan, 2019
    Posts:
    28
    Location:
    Sydney
    Yes, spoken with my PM but I think it is safer to get an independent valuation re CGT. Unfortunately the free one provided by my PM (heard only good real estate agent will be able to do one i.e. free market appraisal unsure if it's correct or not) showing a very low confidence value.

    In this case, I've also asked another RE about it but he said he doesnt do any of it so I guess he is not willing to help anyway)...