Land valuation is the process of determining the value of a property. It involves:

• inspecting the property
• confirming legal ownership
• comparing the property to similar ones in the area that have recently sold
• checking other factors like how easy it will be to sell the property.

Land valuers provide valuations of many different types of property, including:

• residential
• commercial
• industrial
• rural, and;
• horticultural properties.

You may need to use the services of a licensed land valuer for a variety of reasons. Land valuers can help you

• determine what a property may sell for if offered for sale
• establish the fair market value for payment of transfer duty
• determine market value for income tax liability
• determine a rental amount for a rental agreement
• settle a marriage or business disputes during the course of court proceedings
• assess the suitability of a property for mortgage security when taking out a loan.

Fees

Land valuers set their own fees. They must provide you with a written disclosure of all service fees before you enter an agreement. They must not charge a higher fee than the disclosed amount unless there is a significant change in the scope of work.

More information is available from the land valuers page.