A valuation is generated using historic data of the property and knowledge of the local market only, without a site visit.
This method is common and recognized by many lenders before approving a loan. Accountants and solicitors preparing a Superannuation Fund Audit also utilise this method.
A certified property valuer will come on-site to the property, but only do an external inspection without entering the premises. This inspection will be combined with both historic data and market knowledge to generate a valuation.
In addition to consulting historic data and knowledge of the local market, a certified property valuer will come on-site to the property to inspect the premises.
This is the most thorough type of valuation, and the report will contain the most amount of detail for your use.