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Frequently Asked Questions about Valuations

Below is a list of the most frequently asked questions. Every property is different and has its own unique characteristics and challenges. However we have endeavored to provide an answer that is understood without using industry technical jargon.

What does a valuer do?

A valuer performs the following functions:

What does my valuation report include?

A valuation report is a professional written assessment of how much your property is worth. Our Valuer will inspect the property, consider all the factors that affect the value and write-up a professional property report that includes statements and commentary relating to:

Should my house sell for your valuation figure?

Market value is defined as "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion". If we are valuing your property to assess the current market value then the simple answer is, yes. We will have used recent current market sales to assess the current market value of your property. It is fair to say that valuation is not an exact mathematical calculation and individual interpretations, opinions and experience are applied in every valuation. When negotiating the sale of your property we consider that as long as the sale price is the same as, or very close to our valuation, you will be achieving the current market value.

What does the rating valuation (rv or gv) mean?

Rating Valuations are based on mass appraisal techniques and are used primarily for assessing the local authority rates. In many cases the subject property has not been inspected in assessing this value. They do not include chattels and, in our opinion, should not be relied upon to set the current market value of your property.

If my rating valuation goes up will I pay more rates?

Most councils base a portion of their rates on the land value component of your rating valuation. Your rates are also made up with a lot of other uniform annual charges for services provided. Councils annual budget is set each year, the annual charges are calculated and the shortfall of the budget is used to calculate a factor that is applied to your properties land value which sets the balance of your rates. Therefore if your RV increases it is likely you may pay slightly higher rates but only in proportion to achieve the council budget. If you RV doubles you will not pay double the rates.

What are your fees?

It is very difficult to provide a one fee fits all structure with valuation. Every property is different and has its own challenges. The purpose of every job can also be different which dictates what type of report is appropriate. All these factors affect the time taken to do the job and we are only to happy to discuss (on a no obligation basis) your property requirements, type of property, purpose of the job and provide a quote. It cost nothing to call and talk to us and we would welcome your enquiry. We consider that our fee structure is fair, especially in regard to the product we produce.

How long will it take to get my valuation?

Not long at all! We normally will have your Valuation completed within one working day of access. At Hollings Valuations one of our main priorities is a strong focus on client service, therefore, it is important to us that you receive the valuation report in a timely manner so that you can make prudent judgments regarding your property decisions. Although we have developed ways for reports to be delivered in the most expedient manner, this in no way compromises the professional standard of our work.
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