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Residential Valuation Reports

VCL undertake residential valuation reports for multiple purposes including mortgage lending, pre-purchase and pre-sale, litigation, and many other reasons. However the general process is common to all.

First Step – Initial Instructions

Upon receipt of your instructions, we will agree the following:

  • Establish the time frame for reporting back to you. This may be dictated by time clauses within your sale & purchase agreement. If you are under tight time constraints, you must relay this information to your Valuer. We will do everything possible to assist you in meeting any reasonable deadlines.
  • Agree on a mode of delivery of the report to you, your broker or your financier, this can be post, email or fax.
  • Agree on a fee for our services. This will vary according to the type and complexity of the job.
  • Arrange access to the property. We will always need to inspect the interior of the dwelling. On rare occasions such as in mortgagee sale situations we might not be able to get access to the property but this is the exception rather than the rule.

Step 2 – Pre-Inspection
Prior to inspecting the property the Valuer will have interrogated various data bases and investigated various planning maps.

  • Obtained details of rates.
  • Searched out and printed a list of recent comparable sales.
  • Obtained a current copy the Certificate of Title.
  • Consulted the District Plan for zoning details.
  • Investigated any flooding issues.
  • Investigated whether the property lies within an earthquake fault line.


Step 3 – Inspection Phase
During the inspection, your Valuer will undertake:

  • A measurement of the house.
  • An internal and external inspection of the dwelling.
  • An inspection of the remainder of the site including all external amenities and outbuildings.
  • A photograph of the property.
  • An external inspection of relevant recent comparable sales in the locality. We will have valued many of these so may have the benefit of interrogating previous detailed reports.


Step 4 – Reporting Phase
Back at the office the Valuer will:

  • Analyse the comparable sales.
  • Based on this analysis, establish the current market value of the property.
  • Prepare report.
  • Post, email or fax valuation as per instructions received.
  • Post original report (two copies, including colour photographs).
  • Readdress the report as necessary to alternative lenders.


What the Report Covers
The valuation report provides you with the Current Market Value and an explanation outlining the reasons for arriving at that figure. It will point out any obvious defects evident at inspection time. On occasions where there are ‘obvious’ defects, the Valuer might make their valuation subject to a specialist report. For example, if the building was at the base of a hill and there was evidence of land slippage, this is outside the skill set of the Valuer, so the reported value could be made subject to a satisfactory Engineering report. Again most valuations are straight forward and the latter is the exception rather than the rule.

What the Report Does Not Cover
Valuation reports are not Builders Reports. Valuers are not trained to carry out structural assessments. For this you will need to retain the services of a builder or a qualified building inspector.

Risk Matrix

All VCL residential valuation reports include a risk matrix. This highlights potential risk areas with regard to the condition and future saleability of the property. It gives an indication of the probability of a value reduction over the next 2-3 years.