In today’s data saturated world there are an abundance of ‘online tools’ that pop-out house price estimates and predictions. These are of course handy when keeping an eye on overall trends in your suburbs of interest – ideal for over-coffee conversations.

But what about decision-making that involves your actual hard earned cash and/or equity? Are you going to rely on automated press-the-button algorithm generated number?

Our verified desktop valuation reports are a more professional option. Although when undertaking a desktop valuation there is no onsite inspection of the property, values are determined through a combination of data analysis and extensive human local market knowledge!

Don’t get this confused with an ‘Agent Appraisal’. These are documents produced by real estate agents as part of their sales strategy to secure listings. The sales data used is commonly biased towards a predisposed value estimate. Unlike a registered valuer, agents hold little liability for these print-outs.

However, our desktop valuations are different. Valuation Solution reports are not automated, but involve human professional acumen. Our Director personally scrutinises the relevant local sales data, allows for anomalies and pulls on his local knowledge to provide a well considered value.

A current market valuation is the most accurate and comprehensive of all the professional report formats.

The significant difference to a desktop valuation is that our valuer inspects the INTERIOR & EXTERIOR of the property.

Examples as to who our full registered property valuation report is ideal for:

• Divorcing or SeparatingCouples who are struggling to reach a fair settlement? A current market valuation report can be an effective solution as it provides an unbiased professional line in the sand.
  • Amicable parties can commission one report to provide the fair price they require to divide a house asset.
  • Parties in dispute can instruct their own individual reports

• First Home Buyers with Guarantor Parents who both want reassurance around the buying process and the price. Needing parental security for first time purchases is now common place, but it does make decision-making all that more complicated. It is our experience that an independent impartial third party can help smooth out differing opinions!

• Downsizers who are not quite 100% sure about the property, and although receiving plenty of well-meant advice from adult kids and supportive friends, wants an independent opinion from a professional.

• Expat or Interstate Buyers who would prefer a second opinion on the price of the property from a local professional on the ground. (Also see our ‘Local Property Tour’ Service below)

• Vendors selling their house who want professional non-commissionable advice before involving a sales agent.

This report service includes:

• An internal & external property inspection undertaken by our Director, Bevan. Inspections can be arranged with you, or we are happy to liaise with an agent or your property manager.
• A documented report outlining a fair current market valuation of the property, including specific market commentary.
• The provision of detailed schedule of relevant comparable sales.
• A SWOT analysis of the property – the strengths, weakness, opportunities and threats that we consider need to be taken into consideration when assessing the property.
• Unlimited follow up calls to discuss the property inspected.

As a property investor your goal should be to maximise your tax depreciation claim in order to maximise your cashflow. 

A chattels valuation is a one-off cost and therefore a small investment for on-going, future savings.

The report becomes the ‘base-line’ reference for your accountant for ‘year one’ – every year moving forward they use the relevant depreciation rates to continue your claims.

WHAT ARE CHATTELS?

Chattels are moveable and removable components within a building such as:

• heat pumps!
• carpets
• curtains
• dishwasher
• stove
• light fittings
• flooring
• and don’t forget…heat pumps…these alone can add significantly to a claim!

WHAT IS DEPRECIATION?

The technical definition refers to ‘an allowance for wear and tear on an asset over its useful life’.  In other words an allowance from the Inland Revenue Department for the fact that, over time, assets wear out.

The positive aspect of depreciation is that it is a non-cash expense – an expense you can claim in your accounts that doesn’t really cost you anything.  Claiming an expense in your accounts means you pay no tax on that expense.

The more depreciation you can rightly claim, the less tax you pay, and obviously the more cash you have in your pocket.

WHAT IS A CHATTELS VALUATION OR DEPRECIATION SCHEDULE?

As different assets last for a different period, different assets have different depreciation rates.

Our specialised reports provide a detailed schedule of each asset listed individually with their most up-to-date depreciation rate outlined by the IRD.

All reporting methods are in accordance with the most current IRD requirements and rulings.

DO YOU INPECT MY PROPERTY?

Yes – always.  A full internal & external onsite inspection is critical to valuation accuracy.  Our senior registered valuer personally undertakes ALL Valuation Solutions inspections. 

We try our best to offer appointment times convenient to you and/or your tenant (depending on your urgency), or can organise inspection directly with your estate agent or property manager.

WHO WILL DO MY CHATTELS INSPECTION?

Our senior registered valuer personally undertakes ALL Valuation Solutions inspections. 

Our personal service ensures that one experienced individual is hands-on and responsible for the whole valuing procedure…onsite assessment, research, analysis & calculations.  We do not have any junior or un-registered staff involved in our valuation processes.

Valuation Solutions can take chattel valuation report instructions straight from you or your accountant.

Our Christchurch Property Valuation Package is a customised service for people not needing a full market valuation report, but a more interactive, in-person helping hand with their house sale or house hunting.

This package and report is not designed for mortgage purposes.

As your ‘valuation advisor’ Bevan can help remove you from all this emotion, cut through the hype and overload of information, providing some clarity and objectiveness around your decision-making.

IS THIS PACKAGE FOR YOU?

Well, if you fall into any of the following situations it’s worth your consideration:

• You would like a second impartial opinion on whether you should push the green light to buy or sell
• You would like someone with genuine expertise to play devil’s advocate in regard to your thinking around a particular property
• You would like input from someone other than family members and friends who are always keen to share their thoughts…
• You need a professional third party to mediate to find a compromising position for all parties involved in a sale or purchase

This package would suit:

• Vendors who want a realistic view of the current market and needs to get to grips with what a property is worth right now. You don’t want to tarnish your listing with unrealistic pre-peak expectations…
• First Home Buyers with Guarantor Parents who both want reassurance around the buying process and the price. Needing parental security for first time purchases is now common place, but it does make decision-making all that more complicated. It is our experience that an independent impartial third party can help smooth out differing opinions!
  • This professional advice + summary report package can not be used for mortgage purposes – your bank needs to instruct a mortgage valuation report through their ordering system. Although Valuation Solutions is registered for this system, valuers can not be instructed directly by a client.
• Downsizers who are not quite 100% sure about the property, and although receiving plenty of well-meant advice from adult kids and supportive friends, wants an independent opinion from a professional.
• Expat or International Buyers who would prefer a second opinion on the price of the property from a local professional on the ground. (Also see our ‘Local Property Tour’ Service below)

This service will include:

• An onsite internal & external inspection of the property. with you where
• An Executive Summary Report where we will highlight the properties pros & cons, and provide a valuation in writing.
• After receiving report, a follow-up call to discuss the report findings in more detail, including a comparison to other properties of interest, 2-3 comparable recent sales in-depth, best ways to add value to the property or make it more saleable etc.
• Assist with providing specific value negotiation advice if you wish to continue with a purchase or sale.

Whether you are a tenant or landlord, our rental report will provide professional independent evidence of fair market rent, either current or post-dated depending on your purpose.

These reports can be used in tenancy disputes, reviewing property management services or simply for peace of mind.

An inspection will be undertaken for this service.

This is an “old-school” service that we are bringing back.

Well, we would like to again provide a hands-on approach to property due diligence.

This service has been particularly designed with newcomers to Christchurch in mind: relocators from Auckland or Wellington, new immigrants and ex-pats returning home. An invaluable inclusion to any exploration / planning visit.

Bevan will pick you up from an agreed location in the city (e.g. Christchurch Airport) and drive you around relevant suburbs including properties that have recently transacted.

This service will provide you with:

• Valuable on the ground insights of areas / suburbs.
• Real time info around key relevant developments that are occurring in the area that you looking in.
• An analysis of key drivers in your chosen area.
• Thought provoking reasons why you may like to consider ‘other’ areas or different property types.
• Interesting facts about what is happening in the area.
• An opportunity to get your bearings in a new city!

Every tour is scheduled for approximately 2 hours of exploration time. Bevan will pre-prepare a personalised itinerary based on a pre-questionnaire.

Christchurch City Council Rating Valuations (RVs) are undertaken every three years – current rates are set on 2019 RVs.

The next revaluations will be done this year: 2022. They are due for release early 2023.

RVs are computer generated using algorithms based on averages. The results are generally 50-50 in regard to reflecting market value: 50% are close to the mark; 50% are not. Broadly speaking 25% are under and 25% are over valued, sometimes by not much, sometimes the difference can be quite significant.

Where will your value fall?

This may all sound a little imprecise, but this is the difficulty when doing mass calculations. In the end, these valuations do not make any difference to the total amount the council collects in rates across the City – that remains set. RVs simply determine what percentage of the city total will be allocated to each property owner.

The simple fact is ratings / council / government valuations have never been designed to be used as “market valuations” – but whether or not that’s their function, New Zealanders have always attached significant weight to the accuracy of RVs…

Interestingly enough, the Government turned to Christchurch City Council rating valuations when determining the pay-out to RED ZONE property owners following our Christchurch earthquakes. Something to consider.

So there is a formal objection process to the impending rating values release – and we can provide the expert advice you need to successfully object.

Although there is no onsite inspection for this service, values are determined through a combination of data analysis and extensive human local market knowledge!

Same fee as a ‘Verified Desktop Report’.

The most prudent way to establish a property’s fair market value at a specific date is to get an independent registered valuation report.

If you are an executor (or administrator) of a will, this report with help in your legal duty to estimate the value of all the assets, including property, held within the estate. This is necessary to correctly calculate tax liabilities and provide evidence of “fair market value” for beneficiaries.

If disagreements between beneficiaries arise a period of time after the estate has been settled, we can still produce a report instructed for a specific date. A market valuation for probate purposes can be ‘back dated’ if required to the deceased estate owner’s date of death.

Our reports meet all the guidelines required by an executor of an estate.

Minimise the risk of disputes. Call Bevan with your instructions, he is extremely experienced in the decorum required at such a sensitive time.

Same fee as a ‘Full Market Valuation’.