Residential valuation Four ways to value a home, each held to its basis.
Residential reports value a house, townhouse, unit or lot for a private purpose, on one of four inspection bases: full, short form, kerbside or desktop. Valufield drafts each from its own template, and the checker holds the wording to the basis the valuer chose.
A private figure, for a private purpose.
The report gives the market value of the property with vacant possession, supported by comparable sales.
Purposes it serves
A proposed sale, a pre-purchase figure, a family arrangement outside any court, or general advice to the owner. Kerbside and desktop also serve a portfolio review or a preliminary figure.
Who instructs it
Owners, buyers, sellers and families who want the figure for their own information. No lending or bank panel report type is offered.
Purposes it refuses
Not for lending, a court or tribunal, family law, tax or duty, an SMSF, a deceased estate or a past valuation date. Those jobs need another report type.
Start from what was seen.
The four types differ in how much the valuer saw, and the template says so in its own words.
Confirm the facts first
The valuer confirms dates, title identifier, proprietor, zone and the inspection facts. The template fills from those facts and your firm settings.
Wording only, never the value
AI may suggest wording for descriptive sections, and the valuer accepts, edits or discards each one. The value, sales ratings and reconciliation are the valuer’s alone.
Say how much was seen
Full is inspected inside and out. Short form is the same inspection reported more briefly. Kerbside is the street view only, and desktop is not inspected. Both list what was not seen and what was assumed.
The basis cannot drift.
The checker says BLOCK for what must be fixed and WARN for what the valuer should look at, with where to fix it.
No lending purpose
A full report given a mortgage or lending purpose is a BLOCK, and a short form that names a tax, duty, SMSF, court or estate purpose is too. The job form also warns as a lending purpose is typed.
Inspection wording must fit
A desktop report is blocked if it says the property was seen. A kerbside report must say street view only and is blocked if it implies the interior was inspected.
Limits must be stated
Short form, kerbside and desktop reports must say they are not for lending, a court or tribunal, or a tax or duty purpose. The checker looks for that sentence, and for the refer-back clause on the two limited bases.
Peer review, then release
A second valuer reviews the recorded file. Release is a separate gated step, and it never emails the client.
Straight answers.
Which of the four should we use?
Use full or short form when the valuer inspects inside and out. Short form is for a straightforward property, not acreage, development potential, heritage or a significant constraint. Use kerbside or desktop only when the client accepts that less was seen.
Can we use these for a bank?
No. There is no lending report type, and these four refuse a lending purpose. The checker blocks a full report that is given one.
Are the templates approved by anyone?
No. They are drafts until your principal signs them off, and they are a starting point. Keeping to your professional standards and your insurer’s requirements stays with your firm.
See it on a job like yours.
Tell us about your firm and we will show you Valufield on your kind of work, including what is released today and what is still in build. The form takes about a minute, and a person replies.
- We reply to arrange a time.
- We walk through the product on your kind of work.
- You decide, with no obligation.
Rather email? support@valufield.com.au