VALUATION REPORT - QUESTIONS

1. What are the advantages for a valuer in having a universal pro forma such as Propertypro developed by the API?

2. What are the disadvantages for a valuer in having a universal pro forma such as Propertypro developed by the API?

3. Why do valuation reports provide only one value and not a range of values?

4. What is the difference between the Propertypro report and a “speaking” valuation?

5. Why is the qualification “about” or “or thereabouts” used in relation to dimensions and areas in valuation reports?

6. What is meant by “marketability” and how does it affect value?

7. For a tenanted property why is it important to ascertain from your client whether or not he/she requires the valuation with “vacant possession” or “subject to tenancy”?

8. What is the difference between “contract date” and “settlement date” when quoting sales evidence? Why is the difference important?

9. What is “TBE”? How effectively should the value check the quote?

10. Explain the use of risk analysis in Propertypro. With reference to the Risk Analysis Table when should extra comments be provided in the Comments section?