How To Go About Certifying A Property Valuer

There is s difference between an ordinary certificate of incorporation given under the Australian Companies Act and a certificate that is issued for running a property and real estate valuation business. While the former allows the companies to run a business in Australia, the latter is about a special certificate that allows running of a business that is totally focused on the property valuation Melbourne company.

The question that comes to the minds of many persons is whether such a certificate is required for running a valuation business. The answer is yes though as per the laws as they exist today it might not be mandatory. But one has to understand that valuation of properties is a very vital component of any buying and selling of property and thence it should be done by the right persons having experience and expertise in this field.

So if you are an entrepreneur who wishes to get started in this business you should start off by making an application for certification of the valuation business from the right authorities. The authorities on receipt of the application will go through a series of steps which will find out more about the credentials and goodwill of the organization, the facilities and amenities that they have in running the business and other such information. Only when the authorities are satisfied about the wherewithal that the company possesses do they go in for issuing the certificate.

Once the certificate is issued, it is usually valid for a particular period of time. However, during this period it is not unusual for valuation companies to monitor their performance and audit the functioning once in a while. While these audits and monitoring are not fault finding missions, they certainly help in pointing out procedural shortfalls and lacunae which when corrected will go a long in way in putting the valuation company on the right track. Hence, there is no doubt that though the law might not mandatorily prescribe for such certification, prudent valuers will certainly find lot of value in getting such certifications.

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The Need For A Certified Property Valuer


Property valuation is considered to be one of the important aspects of any property buying and selling. However, it is a complicated subject and out the bounds of possibilities of ordinary customers. Hence it is not quite surprising when we see most of the customers taking help of professionals valuers to ensure that the entire process of property ownership transfer takesplace easily. But it is very important that as customers we choose the right valuer who has all the right attributes. These include experience, expertise, qualifications and most importantly certification. Certification is mandatory as far as real estate valuers are concerned. Therefore as customers we should take the trouble of finding out whether a valuer is competent to undertake valuation in the first place.

The reason why it is considered very important to choose a certified property valuer is because of many reasons. First and foremost one has to bear in mind that a valuation report has many legal ramifications to it and therefore must be handled only by those who have the right experience and expertise. This does not come with default and a valuer has to go through various processes involved in certification only after which he or she is considered fit enough for the job. A certified valuer is the one who is accepted as the legal entity as far as banks, financial institutions, big real estate promoters and customers are concerned.

Getting a property valued by a valuer who is not certified will be not correct legally and there is a grave risk of the entire property deal falling through. Hence, even it takes some time it is always better to look for property valuers who have the required certification. Apart from the legal requirements that make it mandatory to deal only with certified valuers, the job of valuation is done very professionally as far as these professionals are concerned.

The entire process of certifying a property valuer is quite lengthy and begins with an application from the valuer. Once the application is received the process of certification starts. It is done by a group of qualified and certified valuers and other professionals. The process involves many steps and it all begins with a thoroughly look at the various facilities and amenities that are available for smooth valuation. Once this is done the valuation certificate is issued after ensuring that all processes and steps are in place. The certification is valid for a certain period after which it is renewed again.

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Why Opting For A Certified Property Valuer Is A Must

There are many reasons why property valuation is considered as an important step towards smooth transfer of ownership from the seller to the buyer. Whenever a property is bought or sold there is no doubt that it involves thousands of dollars and sometimes the stakes involved good be quite a few millions dollars too. Hence, all the stakeholders would like to be very carefully and treat with great care and caution. They would like to check things more than once before committing themselves to it. The two main stakeholders when a property is bought or sold are without any doubt the seller and the buyer.

While the main objective of the buyer is to ensure that he buys a good property at a great price, the seller also has the same mind set. He would like to make a handsome profit out of such sale and ensure that he gets more than anticipated return on his investments. Hence, there is a very strong commercial and economic objective that is making both the parties to enter into this transaction. While there is no doubt that the market is a reasonably good indicator about the value of a property there is no legal sanction attached to it. Hence, there must be a professional valuer or appraiser who can establish a legal stamp on such valuations. That is what the main role is of property valuers.

However, it is also very important that the property valuers also should be competent to undertake such valuation. It is expected that apart from being experienced and qualified they should have a certificate from the relevant government authorities. This certification is mandatory and is akin to a patient getting treated by a doctor who has the required qualification, experience and permission under the law.

Certifications for property valuers are issued by the local government authorities after taking into account various factors. They look into their credentials, qualifications and the procedures and processes that they have in place for valuation of properties received from customers. They evaluate the efficiency levels, the mechanisms that are in place, the time taken, the integrity and transparent levels and other such important factors. Only when they are fully satisfied do they offer them certification. This certification is valid for a limited period after which it has to be validated again by allowing inspection of the processes by the concerned authorities. Hence, certifying a property valuer is not only important but mandatory.

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What Exactly Is Property Valuers’ Certification And Why It Is Important

Property valuation as many of us would be aware is a very important component whenever there is a property buying and selling. It is one of the many steps that have to be followed failing which smooth transfer of ownership from one entity to another may not be possible. While there could be some customers who might believe in the virtues of going through property valuations on their own, a majority of customers are always in favor of going in for valuation with the help of professionals. This is because of some obvious reasons. Valuation of property might look simple from the outside but it is extremely complex and complicated when one gets inside it. It requires special qualification, experience and expertise and only those with the above three attributes would be able to do a good job of it. Hence, it is always prudent and better to get property valuation done from experienced professionals.

While the important of property valuation is now known to us, let us try and find out why it is important to certify these valuers. Like any other service, valuation is a specialized job and only those who have gone through some basic procedures and steps would be in a position to perform the task to the satisfaction of customers. Further, certification is needed because it will be a wonderful tool to keep a check on the valuers and ensure that they are performing as per the needs and requirements of customers. They should be taking the customers’ satisfaction and interests fully into account. There should be a mechanism by which the performances of these property valuers are monitored on a regular basis. Towards this objective there is no denying the fact that certification of property valuers is very important.

Now coming to ways and means by which property valuers are certified, it is usually the local government authorities which acts as the nodal authority. They appoint some professionally qualified valuers under their panel. They send them across the various valuers’ offices and find out whether they are certified or not. If they are not certified it is quite possible that the businesses may have to be shut down temporarily. The valuers in question should apply for certification and go through the various steps and processes as stipulated by the local government authorities. Once these steps are fulfilled and completed, the certification is issued to them for a limited period of time.

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Certification Procedure For Property Valuer

Property valuation without any doubt is a very important formality and procedure that needs to be gone through. Unless proper valuation is done, it would be difficult to transfer the ownership of the property from one entity to another. This is because valuation of properties has many implications. While there is no doubt that getting the right information about the fair market value of the property is the main reason for property valuation, there are other important aspects which are also attached to it. When it comes to calculation of property tax or even when there is a need to find out the right stamp duty payable, valuation reports come in very handy. Additionally it would be pertinent to mention here that many property valuers also go beyond the obvious and provide a number of subjective pieces of information.These are very useful because they mention about the development of infrastructure in the neighborhood, the quality of people who make up the neighborhood, availability of amenities and facilities and other such useful information.

Given the fact that the valuation reports have a very vital and critical role to play, it is important that the professionals who are in this line should be of the best from all points of view. They should be well qualified, experienced, competent, honest and last but not the least certified. Certification of property valuers is extremely important failing which their services will not have a legal sanction. Further certification will help the authorities to oversee the functioning of the valuers on a regular basis. They will help remove any anomalies or problems that could adversely impact the customers and also the property valuers.

These valuers are generally appointed by the government agencies and it is another form of outsourcing the job. The rules and regulations are well described and the onus is on the certifiers to ensure that the valuers are following the same. This is done by regular inspection of the work being done by the valuers. Based on their performance and adherence to rules and regulations, the valuation reports are renewed periodically. The whole process is quite time consuming and would call for spending of quite a bit of time in the valuers’ place. Only when everything has been examined perfectly is the certification accorded to the service providers. The certificates have a time span after which they have the renewed. Renewal is done by having look at the operations closely once again.

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