No. A rating valuation is used for council rating purposes and relates to a valuation date. A market appraisal considers what your particular property could sell for in the current market. Neither an RV nor an appraisal guarantees the price a buyer will pay.
The council’s rating value may predate changes in market conditions or improvements to the home. Check its valuation date before using it as a reference. It is not a current individual selling-price assessment.
A salesperson’s appraisal should consider the property’s condition and comparable recent sales. It provides a basis for a selling proposal and a likely range, with reasons you can discuss.
A registered valuer provides a separate professional valuation, usually for a fee. If your lender or adviser requires one, check the brief and who must be appointed before commissioning it.
Start with homes that buyers would see as realistic alternatives to yours. A sale in the same suburb can be a poor comparison if its land, title, floor plan, construction or condition differs substantially. In Marshland and Prestons, compare the actual section, build, outdoor space and setting; do not assume every newer home has the same appeal. For older homes, ask how renovation, maintenance and documented earthquake repairs affect the comparison.
Look at the date of sale as well as the result. Check whether the information is a completed sale, an asking price or an estimate. An advertised price describes a seller’s campaign; it is not proof of the amount paid. Current competing listings help explain what buyers can choose today, while completed sales show transactions that occurred.
Which sales carry the most weight, and why? What makes the highest and lowest comparisons different from my home? What evidence would change the appraisal range? When should we review the price or method after the campaign starts? A useful answer explains the reasoning, rather than simply applying a percentage above or below RV.
An estimate can be a starting reference, but check its date, inputs and limitations. It may not capture the current condition, presentation or property records that matter to a buyer. Bring it to the appraisal conversation and ask how it compares with inspected-property evidence.
Ask Ray White Marshland for a free property appraisal, browse recent office sales or call (03) 323 4350. Read Settled’s explanation of RV, appraisal and valuation for independent guidance.