“Providing property advice is our business”; we are here to assist you.

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What we do

The following paragraphs are intended to answer some of the more commonly asked questions.

Topics covered below:

What is a “Registered Valuer”?

The term Registered Valuer is governed by an Act of Parliament (“The Valuers Act”); the purpose of the Act is to protect the General Public by setting certain standards under which Valuers operate.  The Registered Valuer is an independent Professional, who is qualified by education and experience to provide Valuation and Property Consultancy services (where these services are provided to the “Public”, the term “Registered Public Valuer” is often applied).

In New Zealand, a Registered Valuer will have a Tertiary Degree and is required to have a minimum of 3 or more years practical experience in the required fields (and to pass further qualification exams), before being granted formal “Registration”.

Valuers are required to work under a CODE OF ETHICS; and reports and conduct are required to meet a certain standard set by the Valuer’s governing body’s (the “Property Institute of New Zealand” and “The New Zealand Institute of Valuers”).

As Registered Valuers,  our job is only partly that of producing the valuation assessment, more importantly it is informing you (or any party relying upon the report) of “any aspect of the property which could affect your property decision”.  If you are unclear on any property related matter, please do not hesitate to ask questions; this enables us to better assist you, with your information gathering process.

What is Value?

Put simply, it is:

  •  The most likely amount for which an asset should exchange, between a willing buyer and a willing seller, in an arm’s length transaction, after proper marketing; wherein the parties had acted knowledgeably, prudently and without compulsion”.

Establishing “value” generally involves directly comparing the subject property, to others of similar type which have sold (or leased, as the case may be) within the local market; thereby, establishing “the most likely sales range (and sales figure) for the subject property”.  So whether the property is actually in the process of sale, or being valued for another reason and not being sold, the process is the same (ie. to assume that  a market sale were occurring). 

Ideally, “value” would be a single indisputable number; however “reality” often produces a somewhat more “grey answer” (as to what an individual property’s value is).  This is because “demand and supply” within the market are continually fluctuating, whilst “emotion” and the personal circumstances of both perspective buyers and sellers, can affect the eventual sales figure.  As such, achievable sale prices (and hense value) are often not restricted solely to a “single figure”, but are reflected by a wider “potential sales range” (achievable sale prices can also be dependent upon a wide variety of other factors, such as “time available for sale”).  On this basis, “value” should  more correctly be regarded as “lying within a range” (where the property could fairly sell at any point within that range).  Many disagreements over “value” often boil down simply to, different points of opinion, as to where within the range, the most likely single figure value lies). 

Despite value more correctly being “a figure within a range”, the Valuer is generally required (for most purposes) to reduce “value” to a single figure.

  

What is involved in the Valuation process?

To simplify matters, the process involves the Valuer:

  • Prior to the  inspection – preparing information on the market and property.
  • The property inspection – measuring and taking detail of the property (on which to base the report itself, and also to compare the subject with similar properties which have  sold recently).
  • Inspection and analysis of comparable sales (or leasings if a rental assessment) – this being the basis of assessing the subject’s value.
  • Assessment of the subject’s value and the preparation of the written report (including, discussion with the client on any value, structural defect, or other issues which might positively or adversely affect the market, or the property itself).
  • Discussion with the client – discussion of value, the effects of the market and any other aspects which might affect the property.

Timing, and the Cost of the Valuation?

The time required to inspect the property and produce the valuation report, together with the cost of the valuation will depend upon a number of factors; we will be able to provide you with an  estimate of both timing and cost, once we have ascertained the nature of the property and your needs.

Phone us  on 569 2095, to discuss your valuation needs, timing, and cost.

Why is there a need for the Valuer to understand what it is you are trying to achieve from the valuation?

At Lindsay Webb Valuations, it is important to us that we provide you (the client; or any party relying upon the report) with appropriate advice, tailored to your needs; for this, we will need to “understand the purpose that  you intend using the information for”, this will enable us to provide the appropriate advice to assist you with your property decision (ie different purposes for which the valuation information might be used, can entail us giving differing types of advise, so that clients can effectively utilise the information).  As an example; although the valuation figures themselves won’t differ, the additional advice we might give to a client in a “mortgage situation”, vs an intended “sales situation”, might vary considerably. So feel free to talk to us and ask questions.

Will you always get an answer from the Valuer that allows you to achieve your goal?

The Valuer must at all times be “independent” and can not guarantee a specific result; whilst generally we will assist you in achieving your goal, sometimes either the “value of the property”, or “defects inherent in the property itself” can create problems, although it may be frustrating to your short term goal, these are the very problems that you are employing the Valuer to identify.  At such times, we will carefully explain the issues to you, so you can plan your next step, and make a fully informed decision. 

  

How do you choose a Valuer?

Local knowledge and experience with the particular type of property are the essential qualifications required when choosing the right  Valuer for your particular job;  don’t assume that every Valuer will be an expert in every market.  

We recommend that you take the time to research your choice of Valuer; and avoid the pitfalls of making a decision based solely upon the cost of the valuation; a few minutes discussion with the Valuer, should give you an indication whether they know the local market, and  the property type (so, don’t be afraid to ask the Valuer directly, what experience they have).  Remember, you are paying for Professional advice – it is up to you to ensure that you receive that level of service, by choosing the right person to advise you.   

At Lindsay Webb Valuations we take “Professionalism” seriously, so much so that, we won’t accept a job, unless we consider that we have the necessary skills for it.  

Why should Lindsay Webb Valuations be your preferred Hutt Valley Valuers?

We realise you have a choice as to who you appoint as your Valuer; and we would be privileged if you considered Lindsay Webb Valuations as part of your property decision.  The reasons why Lindsay Webb Valuations should be considered as your “Preferred Hutt Valley Valuers” are:

  • Our in-depth local knowledge of the Upper Hutt and Lower Hutt property markets.
  • The unique advantage of two Valuers with local knowledge (with our diverse back grounds, and the conscious decision to specialise in the Hutt Valley, our clients can have confidence that we will provide you with the quality Professional advice, to guide you in your property dealings; with the unique advantage of “in house peer review” when necessary, without any additional cost to you the client).
  • Our clients are not just another job to us; we care about supplying you with quality professional service, with a personal touch.

Lindsay Webb Valuations are Registered Public Valuers.

Servicing the Hutt Valley cities of Upper Hutt and Lower Hutt

CALL US to discuss how we might best be able
to assist you with your valuation needs.

Ph (04) 569 2095

"LIVING LOCALLY / VALUING LOCALLY"