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Valuation Principles and Practice Essay

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Below is an essay on "Valuation Principles and Practice" from Anti Essays, your source for research papers, essays, and term paper examples.

SOURCES OF INFORMATION
As stated previously value is based upon the use of comparable sales evidence, therefore it is critical that the valuer obtain as much information as possible. Sources of information may include the following: 1. Local Council:

Address of property, Name of vendor / purchaser, Date of sale, Land dimensions, Zoning, Title reference, Purchase price. 2. Local Agents:

Sales not recorded in council, background to sale, internal description, market conditions. Often agents supply this information on their websites. 3. Newspapers:

Papers such as the Sydney Morning Herald, The Financial Review plus local papers such as The Wentworth Courier provide sales and leasing information plus a contact name. 4. Subscriptions: & leasing

Several companies now specialise in providing sales information on all forms of real estate. These include: RP Data Red Square Just Listed Real Estate.Com Domain.com.au Home Price Guide / Australian Property Monitors Residex

5.

Government:

Statutory bodies such as The Land Department, The Valuer Generals Office, Sydney Water and the Local Council keep copies of Notice of Transfers. Information includes: Name and address of buyer and vendor, Solicitors name and address, Address of property, Sale price, Contract and Settlement dates, Terms and inclusions, Description eg. vacant land, residence, factory etc. 6. Solicitors

Contact with solicitors who specialise in conveyancing will be able to provide useful information such as contract, background to sale and reference to other sales in the area. 7. Personal Contacts

This may include a wide variety of people such as Builders, Valuers, Local Council staff, Local State member, Bank Manager. 8. Neighbours

Always take advantage of an inquisitive neighbour as they can supply you with background information as to the surrounding development or condition of building in the case of a block of units.

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Valuation Principles and Practice. Anti Essays. Retrieved December 13, 2018, from the World Wide Web: http://trenmayamx.com/free-essays/Valuation-Principles-And-Practice-603416.html