Current market value is defined as the amount that an asset could be sold for at a particular point in time and is based on an agreement between a willing buyer and a willing seller. A current market valuation is an assessment of the total you could sell your property for if you were to sell it today. Market valuations are typically higher than bank valuations because banks value properties conservatively and value properties on their “as is” condition without potential renovations or modifications, whereas a market valuation is an assessment of what a property could reasonably sell for at a given point in time.
Market value is not the same as the market price. Market value refers to what the asset is worth whereas market price is what the asset is available for in a competitive market where a negotiation is likely to take place before the property is sold.
What is a current market valuation report?
When you get a market valuation you have the choice between a short form and long form report. In most instances a short form report is sufficient however a long form report contains more information with more explanations and generally cost more. Long form reports are generally used for legal matters, commercial property or when a client requires more comprehensive information.
What types of current market valuations can you do?
We have vast experience in preparing current market valuations for a range of purposes including, but not limited to:
Capital gains tax;Deceased estate;Family Law/Property settlement;Pre-purchase;Retrospective;Separation;Stamp duty;Superannuation fund.
We strive to inspect your property within 48 hours of you enquiring and will then complete your report within 3-5 days of conducting the inspection, so if you’d like to arrange an inspection, give us a call on (02) 6189 2232.