If your question is not answered on this page, please email us and we will be happy to assist.
Q: How long does it take for a valuation to be completed?
A: Completion times vary depending upon the nature of the property being valued, and the style of reporting and the availability of access. Simple residential valuations for taxation purposes can be completed within 3-5 days of instruction subject to availability of access, whilst comprehensive valuations are generally completed between two (2) to four (4) weeks from instruction subject to access. We will commit to a turnaround time at the time of instruction.
Q: How much does a valuation cost?
A: Again, this varies with the nature of the property being valued, the style of reporting and the perceived professional time involved in completing the valuation. Valuation fees may also vary with the professional indemnity risks. An individual quotation can be provided through our on-line quotation form.
Q: Is it necessary for the valuer to conduct an internal inspection for a residential valuation?
A: Yes, the valuer will conduct a thorough internal and external inspection and take any required measurements of the building on site. It will assist the valuer if a copy of any building plans can be made available either at the time of instruction or during the inspection period. If any buildings on the land are to be demolished or are of no value to the land an internal inspection may not be required. In the case of a land valuation for rating and taxing purposes an internal inspection is not required.
Q: Can Lunney Watt & Associates provide a Depreciation Schedule for income tax purposes?
A: No. The Australian Taxation Office publication “Rental Properties 2005-6” defines an “appropriately qualified person” to provide such a schedule and estimation as:
- A Clerk of Works, such as a project organiser for major building projects,
- A supervising architect who approved payments of stages of projects,
- A builder who is experienced in estimating construction costs of similar building projects and
- A quantity surveyor