LAND – PROPERTY IDENTIFICATION

This is to provide an indication of the means, other than street address, by which the property has been identified. The Valuer should, where possible, sight a cadastral map (in the ACT a block and section map), deposited/registered/strata or unit plan, survey plan or other document. Property identification by confirmation of lot and plan/section number and/or reference to physical features such as cross streets, public reserves or other features is required. Where no such means other than street address has been used, the valuer should indicate "identification not confirmed".

Valuers are not normally experts in survey matters and therefore no part of the report should be construed as a survey report. If the valuer's inspection indicates there is a reasonable possibility of any encroachment over easements or boundaries, it would be appropriate for the valuer to recommend a survey report to clarify the issue.

HAS TITLE SEARCH BEEN SIGHTED?

This requires either a 'yes' or 'no' answer to inform the lender if the Valuer has had the benefit of a search, however obtained. It in itself is not indicating any requirement for the Valuer to carry out a search. If the answer is 'no', the lender could consider obtaining a current title search to confirm appropriate content in the valuer's report.

ZONING EFFECT

This should provide an indication as to whether the development is considered (subject to confirmation by appropriate certificate) to be a permitted development and use. Note should also be made as to whether the zoning has any significant adverse effects on the property. Any proposed rezoning directly or indirectly affecting the property should be noted.

LOCATION

This requires a statement as to the position of the property relative to the nearest town centre (CBD) and, if not a significant town, distance to the nearest main town or regional centre. It should indicate distances from other features such as schools, public transport and beaches. It does not require a description of the locality (this is provided under neighbourhood).

NEIGHBOURHOOD

This requires a description of the immediate locality and neighbouring development, drawing particular attention to any positive or negative features or aspects that impact on the value or marketability of the property including significant demographic changes.

SITE DESCRIPTION & ACCESS

This requires a brief description of the shape and topography of the site, its relationship to road level, its suitability for building, its aspect and any significant views, adverse outlooks or 'features' as relevant. Access should be described if difficult legally, physically or due to traffic.

SERVICES

Requires notation of the utilities connected to the site or those provided on site such as septic, bottled gas or tank water. It also requires detail on street surfacing, kerbing and guttering and footpaths.