INFORMATION HELD ON FILE

VALUER'S FILE SHOULD CONTAIN

A Valuer's file for any valuation report using the PropertyPro "Residential Valuation and Security Assessment" Pro forma could be expected as a good practice to contain:

• copy of instructions
• copy of the report
• copy of any documents provided by the client, its solicitor or the borrower.
• copy of any block, subdivision or strata plans relied upon.
• copy of valuer's inspection notes for the subject property including:

• a plan of the main buildings, (preferably drawn to scale using graph paper) showing external and internal walls and recording external wall dimensions. While the plan could also show approximate positions of door and window openings, positions of fixed cupboards, PC items and special fittings, the valuer's recording system may use other appropriate means of recording this detail. (Where a floor plan is provided, the Valuer should conduct sufficient check measurements and observations to verify that the building has been built to plan, or if not, what variations have occurred. Variations should be noted in the report. If the building plan states areas, it would be appropriate for the valuer to check these by calculation). Building areas required in the report are to be based on measurement and calculation.

• adequate notes to record any necessary detail beyond that required in the report covering construction of the main building, its quality, finishes, condition and any essential repairs,

• adequate notes of ancillary improvements.

• copy of Valuer's inquiry sheet if appropriate adequately recording any additional research information obtained and preferably from whom and/or where,
• print of photo (or photocopy of original),
• copy of Valuer's work sheet referencing the sales data relied upon, any adjustments or calculations made and reconciliation of the methods of valuation used in carrying out the assessment(s). Where a TBE/ExtensionlRenovation is involved, calculations for the Check Costing should also be on file.
• copy of any special document relied on that the Valuer considers relates to the property specifically rather than properties in general.