Home valuation | Resilient Homes Program
The process for determining fair value for a Home Buyback.
Home valuation for Home Buybacks
Home Buybacks are part of the Resilient Homes Program and involve the NSW Reconstruction Authority (RA) buying back certain homes in locations where there is a severe risk of future flood damage and a high risk to life and safety.
In order determine a fair offer for Home Buyback properties, an independent property valuation report is required.
How a home valuation is undertaken
To assess the value of your property, an independent property valuer engaged by RA will visit your property, conduct an assessment and review other available records about the property.
The valuation will consider a range of legal requirements, publicly available information and the documents (including photos) and information you provide.
The independent valuer assesses:
- the market value of the property immediately before the 2022 floods
- the current market value of the property
- other categories of compensation in the Land Acquisition (Just Terms Compensation) Act 1991 which the homeowner may be owed.
You can let us know if you or your representative would like to accompany the independent valuer during the property visit. You can nominate dates or times that work best for you.
The valuer will prepare a valuation report, which provides an opinion on the current market value of the property and the market value immediately before the 2022 floods. RA’s Home Buyback offer is based on this report.
The report is checked and reviewed either by internal RA experts or Valuation NSW.
Next steps
For more information
Fact sheets and guidance
Find resources about the Resilient Homes Program in our publications and reports library
