Need a Property Valuation?

If you’re planning to buy property, don’t proceed without an independent valuation.

The Queensland Government introduced the five day cooling off period on real estate contracts to give consumers a chance to think carefully about their decision and to consult professionals about the condition and market value of properties before contracts become enforceable.

Most people buying a car would happily spend a small amount of money to get an independent mechanical and condition report of the vehicle they intend to purchase. Property buyers should also arrange an independent valuation to protect their interests.

For example, say an investor is looking at buying a property that has been promoted under the notorious two tier marketing system. The asking price for the property may be $220,000, but by spending from as little as $385 on an independent valuation, the buyer could discover that the property’s real market value is only $170,000.

Armed with this information the investor seeks an alternative property investment. The immediate saving would be $49,615 ($50,000 saved on the over valued investment, less the cost of an independent valuation). This scenario is particularly relevant for interstate investors looking to buy property in the Queensland market.

Herriots can help to reduce the risks associated with property acquisition by providing advice about market trends, capital gains and stamp duty considerations, tax depreciation schedules, building maintenance plans as well as completing valuations for insurance, litigation or council acquisition plans.

Operating since 1991, Herriots is Queensland’s leading firm of independent valuers. Our experienced valuations staff manage more residential property valuations than any other valuation firm in Queensland. We offer the property investor a range of valuation and consultancy services including:

• Investment property analysis
  
• Capital gains and stamp duty considerations
  
• Tax depreciation schedules
  
• Building maintenance plans
  
• Family law and litigation matters
  
• Assessment of compensation for acquisition purposes
  
• Site identification and negotiation for purchaser acquisition
  
• Market research
  
• Replacement valuations for insurance purposes.

Herriots is totally independent, with no affiliations or associations with real estate agents, property marketers, developers, or other parties that may have influence on the company’s ability to provide honest, objective and accurate valuations and reports.

Our clients include Suncorp Metway, National Australia Bank, Macquarie Bank, ANZ, Westpac, St George, RAMS, Wizard Home Loans, Bank of Melbourne, NRMA Building Society, Queenslanders Credit Union, Bank of Queensland and AMP Banking.

With an established reputation as a consumer advocate for ethical standards of practice in the property industry, Herriots is credited with exposing two tier marketing scams and other underhanded practices in the real estate industry. Read all about it.

Take the risk out of your property acquisitions by getting advice from Herriots.