Property acquisition valuation report

The acquiring authority will get a valuer to prepare a valuation report. It is recommended that you get your own independent valuation of your property.

The valuation report needs to contain:

• date of valuation and date of inspection
• areas/dimensions and legal particulars of the property (e.g. any legal constraints which would restrict development should be noted)
• a description of the improvements, for example a house, pool or other structures
• a site plan showing position of improvements in relation to boundaries
• an accurate floor plan
• specific list of inclusions
• an outline of permitted land use under current relevant environmental planning instrument and/or local government codes
• a description of the class of property valued and the current or potential use of the property together with its location
• details of the sales/rental information used to form the valuation, together with analysis and calculations
• photographs of sales evidence
• valuation rationale
• the rental value of the property
• details of any people, companies or businesses in occupation of the property.

The valuation must also:

• be signed by the valuer who undertook the report 
• disclose how the valuer complies with the requirement under the Land Acquisition (Just Terms Compensation) Act 1991 to be a qualified valuer
• contain the following statement: “I have been engaged and am acting in the capacity of an expert and not as an advocate for the owner or the instructing party”.