*Valuations of Real Property Undertaken between 1 January-31 December 2020
The Information provided will be combined with other responses for analysis and reporting All information is de-identified and collected subject to the same privacy and data collection/ storage/ use protocols as per the remainder of the survey .
For the purposes of data collection, analysis and reporting , we are seeking the number of valuation and assesments undertaken/ completed by your valuation firm during the 2020 calender year (1 January 2020 - 31 December 2020 ) for the following categories and then broken into property types/ classes of 1. Residential , 2. Commercial, industrial, Retail ; and 3. Rural and Agribusiness .
The Categories of valuation/assesments are 1. Mortgage Valuation ; 2. 'Low Risk Valuation'* ; 3. Other Non Mortgage Valuations .
‘Low Risk Valuation' in the context of the APIV Scheme means Valuation of Real Property undertaken:
- in the capacity as an arbitrator;
- for the purpose of making a binding determination (eg. rental determination, marital dispute) as an expert and where ‘hold harmless agreement’ has been entered by parties;
- for financial reporting purposes (excl. special purpose financial reports prepared in respect of a specific transaction such as any sale, takeover or initial public offering);
- for rating and taxing purposes;
- for the purpose of providing expert evidence in relation to a proceeding before a court or tribunal where the expert’s primary duty is owed to the court or tribunal (excluding resumption);
- for resumption purposes; or
- for the purpose of advising on the insurable value of real property in connection with any proposed purchase of insurance.
For more information on Low Risk Valuation Scheme amendment, please click on the link - https://www.api.org.au/low-risk-valuation-scheme-amendment
‘Other Non-Mortgage’ valuations are any non-mortgage valuations/assessments which do not fall into one of the seven (7) categories of ‘low risk valuations’.
*Valuations of Real Property Undertaken between 1 January-31 December 2020
