What is a valuation report and why do I need it?

There are a number of reasons why people get a valuation report but most of these relate to financing a property either obtaining a mortgage or refinancing. The other reasons are for buyers to work out how much they should pay for a house and sellers how much the house is worth.

A valuation generally involves a registered valuer visiting the property to assess the market worth of the house. They will conduct a full inspection of the property and also look at the property's title, council zoning maps and other comparable property sales.

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