Surveying A Property

A property report is a common thing that investors get before purchasing a potential property. A property report is a certified drawing completed by a qualified surveying firm, which shows all buildings, dimensions and distances from property lines on a specific property. The Brisbane property report provides a snapshot of the property title information from a property’s Certificate of Title, including the legal owners of the property.

Summarizes details such as:

• Land area

• Certificate of Title reference and its date of issue

• Legal descriptions that make up the property title

• Previous title reference

• and former owners of the property

Getting a survey of a property is just as important for sellers as it is for buyers. As a homeowner who wishes to sell, conducting a survey before putting your property on the market is an effective way to identify any issues that might need to be addressed before the property is listed. A survey may cause some buyers to reconsider whether they want to go through with purchasing your home or even delay the process until you have remedied the problems, putting your house sale in jeopardy. The valuation report will list the fixtures and equipment giving a detailed description. Identification of the item, such as model number, size and others, that would be necessary to determine the cost new must be part of the description. The list shall contain the present market value, replacement or reproduction cost, and salvage value for each item. The report will provide documentation of the sources used to arrive at the reproduction cost or cost new for each item. The report will also provide an estimate of the total depreciation present with a documented analysis for the conclusion. Salvage value is defined as the probable sale price of an item, if offered for sale on the condition that it will be removed from the property at the buyer's expense, allowing reasonable time to find a person buying with knowledge of the uses and purposes for which it is adaptable and capable of being used, including separate use of serviceable components and scrap when there is no reasonable prospect of sale except on that basis. Because of this, you want to ensure that your property has no major issues such as floorings, roof problems, plumbing or heating concerns before putting it on the market. By doing so, you can avoid unnecessary stress further down the line. As for buyers, the cost of a survey may seem daunting, but it will also ensure that your dream home doesn’t become a nightmare once you’ve purchased it and moved in. If you are doing improvements to your property and have applied for a development permit from the municipality, you will generally be required to provide a Brisbane property report at some stage in the process. Depending on what is being done, this may be at the beginning, at the time the foundation has been constructed or at the end of the project.