Q. What is the cost of valuing a property?
A. Fees are based on the property value as follows:
$2,000 for the first $500,000 of the opinion of the market value and ¼ of 1% of the excess over $500,000 plus VAT, subject to a minimum fee of $2,000 plus VAT.
Q. If my property was already valued in the past what will it cost to get an updated report?
A. In cases where we have done a valuation on the same property within the last three (3) years and for the same client, a discount of 30% of the fee is given, subject to a minimum fee of $2,000 plus VAT.
For properties valued within the last four (4) to six (6) years and for the same client, a discount of 15% of the fee is given, subject to the minimum fee quoted above.
Q. How long does it take to get a valuation report?
Customarily your property will be inspected within 1 to 5 days of receiving your request (verbal, email or written). After inspection, your report will normally be ready in 4 to 5 working days. The above times apply to residential properties only.
Q. How can I order a Valuation report and what documentation do I need?
Q. Why would I need to have my property valued?
For the following purposes:
- Purchase - Mortgage/Refinance - Sale - Insurance
- Stamp Duty - Balance Sheet - Statutory Requirements.
Q. How should I choose a valuation firm?
A. It is important that when arranging a valuation for a specific purpose, you ensure that the Valuation Firm selected is approved by the ‘end-user’. G.A. Farrell & Associates Limited have qualified, professional valuers and are approved by all the major Mortgage Lending Institutions.