RESTRICTED COMMENT – VALUATION REPORT

ASPECTS REQUIRING SPECIALISTS REPORTS

The Valuer's report may provide restricted or limited comment on a range of matters primarily to draw attention to aspects that may require action by others before confirmation of the report by the valuer. These tend to be in specialist areas where the Valuer often will have some knowledge but in which the Valuer is either not an expert or is not permitted under some act or regulation, to express a definitive opinion. The comments could note some observed condition or indication of a possible problem area and could lead to recommendations for reports from such experts as:

• pest controllers
• land surveyors
• geo technical engineers
• structural engineers
• building inspectors
• solicitors
• environmental surveyors
• solicitors
• town planners
• regulatory bodies and authorities.

VALUERS INITIAL COMMENTS INDICATIVE ONLY

The Valuer's comments should be taken as indicative only and not definitive on the particular matter. For example, the Valuer's inspection may note that the building appears to be too close to what appears to be the boundary. The Valuer's report may then note this and recommend that a surveyor's report be obtained. In this way the Valuer serves to highlight need for a particular action. Any valuation or risk assessment provided will normally be subject to such reports being satisfactory.

REFER BACK TO VALUER

When the specialist's report has been obtained, it should be referred back to the Valuer for comment as to how it impacts on the valuation, the risk analysis or the marketability of the property.

DEPARTURE PROVISIONS

When circumstances arise which the valuer considers warrant departure from the provisions of this Supporting Memorandum, the reason for the departure should be clearly stated in additional comments. The lender should be adequately advised of the possible impact of such action on the assessments and the report contents.