Victorian Government legislation requires all properties in the City Melbourne municipality and across Victoria to be valued every two years on a common date. The valuation report for each property is used to calculate the rates of the house property to know whether the value has decreased or increased.
The information that is used for valuation report and price setting is more than the assessment of the property market value which is quite different for different location and even the same house property value of two houses are different. The city of Melbourne collects market sale information each year and information about the property rental and expenses of the owners and tenants. Within the limits of the Municipality, the city of the Melbourne uses planning permits and other public documents to gather information about each property.
It is only with the accredited Brisbane Property Valuers who have the powers to obtain the information by an email. A valuer can anyways request it online like us. However, the property valuer can enter a property within the Municipality. If any further information is needed, information has to be requested. The valuer may request any information at any reasonable time and request any information that will help make a ‘true and correct valuation’. Inspections are arranged with occupiers or owners. It is quite an important list of items to know more on valuation:
- Market sales and rent.
- Property type.
- Property Features.
Valuers build the profile of the whole property to be sold. What is important to the buyers, to the government and what is important to the bank or lending institutions all is counted and done in one go. If once the property is done for valuation, it in actuality a decision of the smart person selling of their home or buying one. Since the condition ‘if it is done by the best of the valuers, then there is no doubt with the government or the buyer will have any doubt with the valuation report done by the accredited ones.
In many cases, there has been possibility of being cheated by the seller who ran away after selling. People have faced many difficulties with this thing. People always aim at buying a good shelter and have settling with a good life. Although some people invested after doing valuation and comparative analysis by their own, they ended up in the whole while with a struggle with them self. They later found large amount taxes to be paid and some ended up cruising through life with a little or no mortgage, holidays galore and living in a better home, while others do end up in pain with the struggles though they receive the same opportunity. Therefore it is crucial decision to buy the shelter they buy and the wisdom of the valuer passed on the valuation reports.