What’s an Automated Valuation Report?
The Automated Valuation Report is a Computer Generated Report from RP Data.
It is not intended to replace a Real Estate Agents’ Appraisal or a Valuation from a Licenced Valuer.
You’ll find how to read the valuation report below.
Many Major Banks use them for Over-the-Desk Valuations for Purchasers.
They have credibility… yet, we’ve found these computerized Reports can vary as much as 20% from real worth!
They are based on automated computer modelling from public records.
** If you have not already arranged one, you can get your own Automated Valuation Report here. **
Humans V’s Robots!
They’re a great place to start… however, they may not represent the true value of your home.
Sometimes they are too low and at other times too high.
They don’t see everything the ‘Human Factor’ does, compared to the ‘Robot’ version.
Even the Banks and Finance companies usually follow these up with a ‘Paid Valuation’ by a Certified, Licenced Valuer.
If you’d like a better idea of your homes’ worth.
You Won’t Need to Outlay Cash for a Valuer!
That’s Where We Can Help You…
If you’d like an up-to-date Appraisal, just pick up your phone and call 83961100 now or book a no-obligation Consultation.
Appraisal V’s Valuation
Simply a Valuer provides a Sworn Property Valuation which could be relied upon in court.
They have to base their report on facts as they are legally responsible for the information they provide.
Severe penalties apply if the Valuer attempts to mislead.
An appraisal however is the real estate agents’ opinion of your property value.
They base their appraisals on other sales and factors in the area as well as their experience.
You can find more details at our Q&A page.
The Automated Valuation Report
Cover Page – Automated Valuation Report
Describes the Property Address, Property Image and Date.
Page 2 – Automated Valuation Report
This is where you find the Estimated Valuation as well as an Estimated Price Range
The FSD is Forecast Standard Deviation of + or – % figure (An FSD of 10% or less is reasonable)
The Property Attributes include How many Bedrooms, Bathrooms and Parking as well as Land Area
Consideration is given to Year Built, Floor Area (Building size)
Condition of the property is usually left as Average
Property Type and Land Use is either for a House or a Unit
Also included are Property Image, Birds Eye View (Aerial view) and Site/ Lot Plan.
Page 3 – Automated Valuation Report
Included properties deemed to be Comparable to the subject property,
These are used in the Computer generated calculations to determine the Estimated Valuation and Range.
Page 4 – Automated Valuation Report
Statistical Information Tables
Median Price for Houses & Units in the Current Year
Past Sales – Houses How many Houses have Sold for the Last 10 Years
Past Sales – Units How many Units have Sold for the Last 10 Years
Capital Growth How Much % Houses and Units have grown (+) or (-) over the previous 4 years
Sales by Price The Volume of Sales for Houses and Units in Various Price Ranges
Page 5 – Automated Valuation Report
Contact details and Disclaimer information for the Automated Valuation Report
It should not be relied upon in lieu of appropriate Professional Advice
*Please note – Your report may have a slightly different look depending on when it was ordered
You can arrange your own Automated Valuation Report here.
But, If You Would Prefer a Professional Up-to-date Appraisal, Just Call 08 83961100 Or Schedule a Call.
Got questions? Email [email protected]
To find out more, you’re welcome to call 08 83961100 to arrange a chat with people that care.
Alternatively, Book a Free Consultation or Get Your Home Value Here. We’ll Guide You Home!
Feel free to browse the rest of our Blog for more tips tricks and helpful info you can use.
Not sure of some of the terms & meanings used? Check our comprehensive Glossary, Abbreviations and FAQ’s!
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Thanks for reading…
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You can REFER them here.
Whatever Topic or Suggestion you have… email us at [email protected] or call 08 83961100. We’d love to hear about your ideas.
Like most things in life, these are recommendations only. It is not legal advice, it may or may not suit your own circumstances and you may need to make your own additional enquiries.
Regards Eriks & Team Plaza Real Estate