Steve Binnie Valuation - FAQ's

FREQUENTLY ASKED QUESTIONS

What is the turnaround for a valuation?
For a residential valuation the typical turnaround is 3-5 working days. The time taken is dependent on the scale of the property. Larger and more complicated (commercial/industrial) properties can take slightly longer. We work to deadlines, if you let us know the deadline at the outset we will make sure that it is met.

Are your valuations accepted by all lenders?
Yes. All banks, building societies, finance companies, brokers and insurers recognise our valuations.

Can you email valuation reports?
Yes. We usually provide a full colour report in PDF format attached to an email. It is locked/encrypted so that it cannot be changed. This is a requirement of lending institutions. You can print the report and forward it to your bank manager (often we will send the report directly to your bank at your request).

What does a valuation entail?
We make a thorough inspection of the property. Inspect comparable sales, Calculate the value and write a detailed report. The report includes the legal description (property ID), description of the location/locality, land description, improvements description (buildings etc), condition, valuation summary, mortgage recommendation, method of valuation and sales comparisons. plus general remarks, particularly in respect of saleability and any positive/negative features.

How often do you come to Geraldine (or Temuka/Fairlie/Tekapo/Twizel etc)? 
We do a round trip through Pleasant Point, Fairlie, Geraldine, Temuka and districts once a week, usually Tuesdays. I can come to Waimate at short notice and Tekapo/Twizel as required and generally within a week.

Will your valuation affect my rates ?
No. Rating valuations are a completely separate valuation. Our valuations are completely confidential and will not be seen by anybody other than yourself or whoever you nominate.

Can I use my market valuation for insurance purposes?
No. Insurance valuations are quite different to market valuations. The insurance valuation is a reinstatement cost and includes estimates for demolition and site clearance and likely cost escalation over the period of the insurance.

Do you value chattels?
We only value the residential chattels that would normally sell with a house, carpet, drapes, dishwasher etc. 
The exception is motel chattels as part of a going concern valuation.

Do you value proposed buildings off plans? What info do you need?
Yes. We value proposed buildings quite regularly. We need a brief set of plans, floorplan, elevations, site plan and a simple cross section. A verbal description of the specification will suffice. ie. kitchen finish, appliances, bathroom finish & fittings, heating, water heating etc.

Need a valuation on your property? 

We specialise in the valuation of all urban and lifestyle properties, both residential and commercial in the wider South Canterbury region.