API
RESIDENTIAL VALUATION and SECURITY ASSESSMENT for Mortgage Purposes
Mortgage Australia Group
Sample Valuation
Standard Valuation Report ORGANISATION/LENDER: BUSINESS UNIT: POSTAL ADDRESS:
BORROWER:
Page 1 of 9
Australia and New Zealand Banking Group Limited Broker Distribution FAX/E-MAIL TO: Locked Bag 9 ATTENTION: Collins Street West Post Office Melbourne VIC 3004 Wayne Barber
VALUER REF: LOAN REF NO:
VMS Mark Lendich PTH302459 101267175
1. PROPERTY SUMMARY – Dwelling PROPERTY ADDRESS: TITLE DETAILS: Encumbrances: Site Dimensions:
ZONING/INSTRUMENT: MAIN BUILDING: Built About: CAR ACCOMMODATION: AREAS: MARKETABILITY: ENVIRONMENTAL ISSUES: ESSENTIAL REPAIRS:
2 Gibson Street, Mount Pleasant WA 6153 Lot: 319 Plan: 39290 Volume/Folio: 2550/96 Unknown Frontage: 18/19 metres; Depth: 25/34 metres; Site Area: Truncation: 9 metres; Shape: slightly irregular shaped Residential R17.5 LGA: Dwelling with 5 bedrooms and 3 bathrooms Current Use: 2007 Addition(s): 2011 Renovation(s): Double garage Car Areas: 2 2 Living Areas: 410 m Outdoor Areas: 74 m Other: Good Unknown None apparent on inspection
744 m
2
City of Melville Single use residential N/A 2 51 m N/A
Heritage Issues:
No
2. RISK ANALYSIS * Must “comment” over page on any 3, 4 or 5 Risk Ratings Market Risk* Ratings
1
1
Recent Market Direction:
2
Land (incl. Planning, title):
2
Market Volatility:
3
Environmental Issues:
2
Local Economy Impact:
2
Improvements:
2
Market Segment Conditions:
3
Property Risk* Ratings
1
Location & Neighbourhood:
2
3
4
5
2
3
4
5
* Risk Ratings: 1 = Low, 2 = Low to Medium, 3 = Medium, 4* = Medium to High, 5* = High
3. VALUATION & ASSESSMENTS SUMMARY Interest Valued: Value Component: Land:
Other Assessments
Fee Simple Vacant Possession
Existing Property 1,150,000
Improvements:
$ $
1,300,000
MARKET VALUE:
$
2,450,000
Rental Value Unfurnished: Replacement Insurance:
$1,300 /week $1,550,000
(Two Million Four Hundred and Fifty Thousand Dollars)
Recommendation: Yes Recommended Documents for Lender to Sight: Yes - See Additional Comments I hereby certify that I personally inspected this property on the date below and have carried out the assessments above as at that date. Neither I, nor to the best of my knowledge, any member of this firm, has any conflict of interest, or direct, indirect or financial interest in relation to this property that is not disclosed herein. This Report is for the use only of the party/s to which it is addressed and its mortgage insurers for first mortgage purposes only and is not to be used for any other purpose. No responsibility is accepted or undertaken to third parties in respect thereof. No responsibility is accepted or undertaken in the event that the party/s to which it is addressed use this Report for any other purpose apart from that expressly outlined above. This Report is made in accordance with the PropertyPRO Residential Valuation and Security Assessment Pro-forma Supporting Memorandum and must be interpreted with that Memorandum. The agreed parties are bound by the provisions of the Supporting Memorandum. The Supporting Memorandum is available at www.api.org.au.
Valuer: Qualifications/Reg.#
Inspection & Valuation Date:
Robert Gaudieri AAPI AAPI / Certified Practising Valuer API No: 65383, WA Licensed Valuer No. 44444
28/08/2014
Signature:
Firm: Address: Phone: Mobile: Email:
Herron Todd White (Western Australia) Pty Ltd PO Box 8160 Subiaco East WA 6008 08 9388 9288 0413 614 591
Fax: 08 9388 8660
[email protected]
Whilst not having inspected the property, I have reviewed the draft valuation and working papers, and based upon that review and appropriate questioning of the Valuer obtained reasonable satisfaction that the value opinion contained in the valuation has been reached, based on reasonable grounds.
Authorised for Issue By:
Rick Martin AAPI Certified Practising Valuer WA Licensed Valuer No. 667 Director
Valuer’s File Reference: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 2 of 9
4. THE LAND Property Identification: Has title been sighted: Zoning Effect: Location:
Neighbourhood: Site Description & Access:
Services:
The property has been identified by reference to the cadastral map and street address. No. Conforms. A dwelling is a permitted use under this zoning. Mount Pleasant is an established, well regarded residential suburb located some 8 km south of the Perth CBD. Mount Pleasant is a riverside suburb and surrounding development comprises a mixture of older style unit development, older style single residences many of which have been renovated and extended in addition to a variety of modern residential dwellings. A full complement of community infrastructure is available within the surrounds. This is an established residential area with varying quality property surrounding. Positive features include proximity to schools, CBD, shopping, parks, public transport and the river. The subject is a slightly irregular shaped, near level, corner lot, with a suitable building site which is naturally contoured, cut, levelled and positioned at road level. The lot is cleared and faces south with no significant views. Access to the property is easy and direct. Electricity, mains sewerage, telephone, mains gas and town water are connected to the property. Gibson Street is a sealed typical suburban street with concrete kerbing and channelling.
5. MAIN BUILDING Style: Main Walls & Roof: Main Interior Linings: Internal Condition: Accommodation: Interior Layout: PC Items:
Fixtures & Features:
Car Accommodation: Living Areas:
6. ANCILLARY IMPTS
Two storey, Executive style Street Appeal: Very Good Rendered brick & Tile Window Frames: Aluminium Plastered brick Flooring: Concrete Very Good External Condition: Very Good 5 bedrooms, 3 bathrooms, powder room, separate toilet, kitchen, kitchenette, entry, laundry, study, family, dining, outdoor living, games, media, alfresco and balcony. Very Good The residence generally has modern PC items of good quality in very good condition. KITCHEN: modern kitchen with double bowl undermounted sink, floor & wall cupboards, appliance cupboard, pantry, breakfast bar, stone benchtops, island bench, dishwasher, wall oven, double oven, induction cooktop, rangehood, plate warmer. KITCHENETTE: modern kitchenette with single bowl sink, floor cupboards, stone benchtops, tiled splashback, induction cooktop, rangehood, integrated fridge and ice maker. ENSUITE: modern bathroom with shower, single vanity unit, stone benchtop, wall mirror, toilet, heater light fan combination, full height wall tiling. POWDER ROOM: modern powder room with toilet, exhaust fan, vanity unit, wall mirror. ENSUITE 2: modern bathroom with bath, shower, frameless glass shower screen, double vanity unit, stone benchtop, wall mirror, toilet, heater light fan combination, full height wall tiling. BATHROOM: modern bathroom with bath, shower, single vanity unit, stone benchtop, wall mirror, heater light fan combination, full height wall tiling. LAUNDRY: modern laundry with floor cupboards, wallcupboards, linen cupboard, laundry tub. SEPARATE TOILET: toilet. HEATING/COOLING: ducted reverse cycle air-conditioning. SECURITY: security system, intercom. FLOOR AND WALL COVERINGS: carpet, tiles, polished timber floors. Includes built-in robes, walk-in robe(s), built-in cabinetry, ducted vacuum system, shadowline cornices, high ceilings, coffered ceilings, void over entry, remote controlled blinds, bi-fold doors, recessed light fittings and venetian blinds. 2 Double garage Car Areas: 51 m 2 2 Outdoor Areas: 74 m 410 m Other: N/A Ancillary improvements include a paved driveway; full boundary fencing including a vehicle gate and pedestrian gate with remote control access; established landscaping incorporating limestone paths, timber decking, sprinkler system, ground lighting, shade sail, neat lawns, outdoor kitchen/bar; garden shed; below ground pool featuring water feature and frameless glass pool fencing.
7. SALES EVIDENCE & THE MARKET Address 93A Ullapool Road, Mount Pleasant
Valuer to sign or initial:
Sale Date 12/12/2013
Price $2,188,000
Brief Comments A circa 1994, fully refurbished and renovated, brick and colorbond, 4 bedroom, 3 bathroom, three storey, architect designed and contemporary style dwelling, with double garage. Areas: living - 335 sqm; outdoor - 24; car - 40 sqm. Ancillary improvements include exposed aggregate driveway, full boundary fencing, exposed aggregate paths, established landscaping, artificial turf and an outdoor kitchen. The property has city and river views. Land Area 516 sqm.
Valuers file ref: PTH302459
In Comparison to Subject Similar location, inferior land area, inferior dwelling area, slightly inferior overall improvements. Overall inferior.
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 3 of 9
87A The Esplanade, Mount Pleasant
09/05/2014
$2,220,000
A circa 1962, renovated and extended, brick and colorbond, 5 bedroom, 3 bathroom, multi-storey dwelling with double garage (under main roof). Areas: living - 450 sqm; outdoor - 180 sqm; car 36 sqm; other - 58 sqm. The dwelling is located on a near level, battleaxe shaped, inside lot situated at road level. Ancillary improvements include a ancillary improvements include a tiled driveway; full boundary fencing including vehicle gate with remote control access; established landscaping incorporating limestone paving, established trees, neat gardens, garden walls, water features and shade sail; garden shed; and below ground pool featuring powder coated safety pool fencing. The property has city and river views. The property has good external condition, good internal condition and good presentation. Land Area 1,182 sqm.
Slightly superior location, superior land area, slightly superior dwelling area, inferior overall improvements. Overall inferior.
76 Ullapool Road, Mount Pleasant
24/09/2013
$2,410,000
A circa 1969, renovated and extended, brick and tile, 5 bedroom, 3 bathroom, two storey dwelling, with double garage. Areas: living - 472 sqm. Ancillary improvements include a paved driveway, boundary fencing with vehicle gate, established landscaping and a below ground pool. The property has city and river views. Land Area 1,178 sqm.
Similar location, superior land area, slightly superior dwelling area, inferior overall improvements. Overall slightly inferior.
101B Ullapool Road, Mount Pleasant
18/04/2013
$2,600,000
A circa 2007, brick and colorbond, 5 bedroom, 3 bathroom, executive style, three storey dwelling, with double garage. Areas: living - 452 sqm. Ancillary improvements include an exposed aggregate driveway, full boundary fencing, established landscaping, below ground pool featuring frameless glass pool fencing and cabana. The property has restricted city and river views. Land Area 576 sqm.
Slightly superior location, inferior land area, superior dwelling area, superior overall improvements. Overall considered superior.
27 The Esplanade, Mount Pleasant
24/02/2014
$3,210,000
A circa 2007, brick and tile, 5 bedroom, 4 bathroom, executive style, three storey dwelling, with double undercroft garage. Areas: living - 404 sqm. Ancillary improvements include a limestone driveway, boundary fencing, pedestrian gate, established landscaping, timber decking, outdoor kitchen and below ground pool with water features and frameless glass pool fencing. The property has very good internal and external condition. Riverfront property with river views. Land Area 541 sqm.
Superior location, inferior land area, similar dwelling area, superior overall improvements. Overall superior.
31/07/2014
$2,450,000
Under Contract - Sale price considered to fall within the market value range.
Current/Proposed sale of subj. property: Prior Sale(s) of subj. property: Level of Market Activity (sales):
Stable Sales Activity
Selling Period greater than 6 mths:
No
Sale in line with local market:
Yes
Copy of Contract Of Sale Sighted:
* within past 3 years
N/A
Yes - See Additional Comments
8. ADDITIONAL COMMENTS RISK RATING COMMENTARY MARKET VOLATILITY - 3 In recent years the Perth residential property market has been impacted by fluctuating buyer confidence, interest rate movements, sensitivity to economic forecasts and events. The Perth residential property market is also influenced by the strength of the WA mining, resource and petroleum sectors and has historically fluctuated with their short and long term outlooks. MARKET SEGMENT - 3 Our research in the market found that there is a distinct lack of directly comparable sales evidence within the last 12 months. The Valuer to sign or initial:
Valuers file ref: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 4 of 9
subject property falls within a thinly traded market sector. The relatively high value of the subject property limits the number of potential purchasers. Subsequently there are fewer recent transactions of similar properties and therefore we have had to rely on a much broader range of sales. We advise that the sales quoted in this report are the most recent sales available at the time of production of this report and in our analysis we have made adjustments for differences in sale dates as well as differences in land and building areas, age, accommodation provided (including number of bedrooms and bathrooms), condition/presentation and features offered, as well as location variables.
Property in this price range are typically relatively illiquid, even during stronger market conditions, with few properties available, relatively few purchasers within this price bracket and prospective purchasers being generally highly discerning. As a result, personal preferences, presentation and motivation of both the purchasers and vendors impact heavily on the ultimate sale price and can result in wider market parameters than those experienced for lower priced properties. PROPERTY COMMENTARY A circa 2007 two storey 5 bedroom, 3 bathroom detached executive style dwelling with rendered brick walls, tile roof , concrete slab and 2 car garage. Areas: living - 410 sqm; outdoor - 74 sqm; car - 51 sqm. The dwelling is located on a near level, slightly irregular shaped, corner lot situated at road level. The property has no significant views. Ancillary improvements include a ancillary improvements include a paved driveway; full boundary fencing including a vehicle gate and pedestrian gate with remote control access; established landscaping incorporating limestone paths, timber decking, sprinkler system, ground lighting, shade sail, neat lawns, outdoor kitchen/bar; garden shed; below ground pool featuring water feature and frameless glass pool fencing. The property has very good external condition, very good internal condition and very good presentation. Land Area 744 sqm. MARKET COMMENTARY REIWA data (effective March 2014) discloses that the average number of selling days for residential real estate in the Perth Metropolitan Region is currently 57 days, an increase of 1 day from the previous quarter. Demand in the prestige property market, whilst improved, continues to be somewhat limited and price sensitive, with longer selling periods experienced in some cases. However, we note a recent increase in sales activity particularly in the sub $1,500,000 market. The multi million dollar market continues to show caution. ADDITIONAL COMMENTS We note that the subject property is in the process of being purchased through Acton for $2,450,000. We consider the contract price is in line with the current market. We have been provided and sighted a copy of the Contract for Sale. We understand the subject property has been on the market since February 2014 at an asking price of $2,590,000. We note the contract price includes some additional furniture items such as bar fridges, an ice-maker, media screen and projector. We have taken into consideration these additional items and consider the subject property would still achieve the purchase price without the inclusion of these items. PHOTOGRAPHIC EVIDENCE In accordance with the Australian Banking & Finance Industry Residential Standing Instructions (Version 1.1.1) we can confirm that the photographs provided in this valuation report were taken at the date of inspection, as outlined on page 1 of our report. We confirm that we have fully inspected the property. ESSENTIAL REPAIRS None apparent on inspection DOCUMENTS TO SIGHT - General We recommend that the following specialist reports be obtained: Certificate of Title Contract of Sale - Full Copy Pool Fencing Compliance Certificate SELLING PERIOD Less than 6 months Selling Period We consider the property is suitable for mortgage security and would sell at or near the assessed value assuming proper marketing within a selling period of up to 6 months. UNCONFIRMED SALES 37 Ogilvie Road, Mount Pleasant. $2,170,000 on 14/04/2014. A circa 2011, brick and tile, 4 bedroom, 2 bathroom, architect designed, single storey dwelling, with 4-car garage. Areas: living - 303 sqm; outdoor - 45 sqm; car - 71 sqm. The dwelling is located on a near level, rectangular shaped, inside lot situated at road level. Ancillary improvements include an exposed aggregate driveway; full boundary fencing of brick and colorbond construction; established landscaping incorporating tiled paths, feature timber decking, sprinkler system, ground lighting, neat lawns and gardens; outdoor kitchen with stone bench tops, and cedar cupboards; below ground pool featuring spa and frameless glass pool fencing. The property has very good external condition, very good internal condition and very good presentation. Land Area 750 sqm. Valuer to sign or initial:
Valuers file ref: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 5 of 9
In comparison to the subject property: Similar location, similar land area, inferior dwelling area, inferior overall improvements. Overall inferior.
9. IMPORTANT NOTES AND QUALIFICATIONS This valuation report is for the use of Australia and New Zealand Banking Group Limited and its Mortgage Insurers and may be relied upon only by the party to whom it is addressed and no other parties are entitled to use or rely upon it and the valuer does not assume any liability or responsibility to any other party who does so rely upon the valuation without the express written authority of the valuer. QUALIFICATIONS & DISCLAIMERS Improvements We advise that this valuation assumes that all improvements have been constructed in accordance with the appropriate planning and building regulations in force at the time of construction, and that all appropriate approvals have been obtained from the relevant authorities. The valuation inspection and report does not constitute a structural survey and is not intended as such. The valuer has carried out an inspection only of the exposed and readily accessible areas of the improvements. The valuer is not a construction nor a structural engineering expert and is therefore unable to certify the structural soundness of the improvements. Readers of this report should make their own enquiries. This valuation has been based on the known and assumed condition of the structural improvements and the property in general as at the inspection date, and if the property has to be sold in circumstances where its condition has deteriorated and/or essential fixtures/fittings removed there is likely to be a significant write down in the asset value when compared to the current assessment. Under these circumstances the valuer will be not be responsible for any reduction in value. Floor areas within this report have been calculated from our own measurements and are approximate only. Should any adverse improvement concerns become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Insurance Assessment If we have provided an assessment of the reinstatement value of the improvements for insurance purposes this will include an allowance for building cost increases for 12 months, demolition, and professional and Council fees. The valuer is not a construction and/or structural engineering expert and therefore the value should be taken as indicative only as to what the reinstatement value of the improvements may be. A precise estimate should be provided by a construction/structural or quantity surveying expert and our assessment of the reinstatement value should only be considered as an indication of that likely value. Land Dimensions / Area We advise that we have not searched or been provided with a copy of the Registered Plans and that any dimensions or land areas quoted in this report have been obtained from third party information sources and whilst endeavours have been made to verify such information we accept no responsibility for inaccuracy of any information provided and relied upon. Site Survey / Encroachments We advise that a survey report has not been sighted and our inspection has revealed that there do not appear to be any encroachments upon or by the property. Survey pegs were not located and this valuation assumes correct boundary alignment. This valuation is made on the assumption that there are no encroachments by or upon the property and that this should be confirmed by a current survey report and/or advice from a registered surveyor. We are not surveyors. Should any encroachments or other affectations be noted by the survey report, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Easements and Encumbrances We advise that this valuation is based on the assumption that there are no easements or encumbrances or other title defects which would have any adverse effect on the value or marketability of the property. We recommend that a full title search be carried out and that until such time as that search is undertaken and considered by the valuer, no reliance should be placed on the valuation report. Should any such easement or encumbrance or other like affectation on title become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Town Planning, Building and Other Searches We advise that a search with the appropriate Council or other relevant authorities has not been carried out or has not been obtained and therefore this valuation has been undertaken on the assumption that all necessary and appropriate town planning and/or building, consents, approvals and certifications have been issued for the use and occupation of the improvements as more fully described in this report. It is recommended that all appropriate consents, approvals and/or certifications as referred to above be obtained. Should any affectations become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Pest & Termite Infestation We advise that the inspection of the subject property did not reveal any obvious visible pest or termite infestation within reasonably accessible areas to the valuer. The client acknowledges and recognises that the valuer is not a pest inspector / pest expert. The absence of pests, including termites, can only be confirmed by a suitably qualified expert after a comprehensive inspection and the use of specialist equipment. Should any pest or termite infestation concerns become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Asbestos We advise that the inspection of the subject property did not reveal any obvious visible asbestos materials to the valuer. The client acknowledges and recognises that the valuer is not qualified to conclusively determine the existence of asbestos and will not be held liable nor responsible for his/her failure to identify any asbestos materials and the impact which any asbestos material has on the property and its value. Should any asbestos concerns become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Utility Services We advise that the valuer has not tested any of the services. Should any utility service concerns become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Flood Search We advise that we have not undertaken a formal search to confirm whether or not the property is subject to flooding or other impediments caused by excess water saturation. Should any flooding or other impediments caused by excess water saturation concerns become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. Environmental / Contamination
Valuer to sign or initial:
Valuers file ref: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 6 of 9
We advise that the inspection of the subject property did not reveal any obvious visible environmental or contamination concerns to the valuer. The client acknowledges and recognises that the valuer is not an expert in identifying environmental or contamination hazards and compliance requirements affecting properties. The valuer will not be held liable nor responsible for his/her failure to identify all such matters of environmental or contamination concern and the impact which any environmental or contamination related issue has on the property and its value including loss arising from site contamination; or the non-compliance with environmental laws; or costs associated with the clean up of the property to which an environmental hazard has been recognised, including action by the Environmental Protection Agency to recover clean up costs pursuant to the relevant Environmental Protection Act. Should any environmental or contamination concerns become apparent, the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report. First Mortgage This valuation is provided on the basis that it may be used for assessing and providing first mortgage over the asset. We do not accept liability for losses arising from the assessment and/or provision of non-first mortgages. Recommendation The decision as to the suitability of security for a lending transaction and/or a mortgage insurance transaction is a commercial decision for the lender-client/LMI. That decision must not only be based on the content of the Report but should also extend to other factors beyond the subject property itself. The recommendation within the Report is based on the opinion of the valuer, as to whether the subject property itself, as observed, is in a satisfactory condition both internally and externally, and is habitable and readily saleable at the assessed market value. Reliance and Disclosure The report has been prepared for the private and confidential use by the party to whom it is addressed. This valuation is for the use of and may be relied upon only by the party/parties to whom it is addressed. No other parties are entitled to use or rely upon it and Herron Todd White does not assume any liability or responsibility to any other party who does so rely upon the valuation without the express written authority of Herron Todd White. Neither the whole nor any part of this valuation or any reference thereto may be included in any published documents, circular or statement, nor published in part or full in any way, without the written approval from Herron Todd White including the form and context in which it may appear. Market Movement & Report Expiry This valuation is current as at the date of valuation only. The value assessed herein may change significantly and unexpectedly over a relatively short period (including as a result of general market movements or factors specific to the particular property). We do not accept liability for losses arising from such subsequent changes in value. Without limiting the generality of the above comment, we do not assume any responsibility or accept any liability where this valuation is relied upon after the expiration of 3 months from the date of the valuation, or such earlier date if you become aware of any factors that have any effect on the valuation. Comparative Sales Evidence The comparative sales used in this valuation report are considered the most relevant sales based on our research, both in terms of physical comparability to the subject property and allowing for market changes between comparable sales and valuation date. In many cases, we have not physically inspected the interior of the sales evidence quoted and have relied on sales evidence as recorded in available property sales databases. We therefore cannot guarantee the accuracy of the information provided. Full Disclosure & Reasonably Available Information The instructing party acknowledges its responsibility for full disclosure of relevant information and undertakes to provide all documents in its possession that may have an affect on the service to be provided. This valuation is based upon information reasonably available to the valuer as at the date of issue in accordance with usual valuation practices. Definition of Market Value The estimated amount for which an asset or liability should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion. Definition of Market Rental The estimated amount for which a property, or space within a property, should lease on the date of valuation between a willing lessor and a willing lessee on appropriate terms in an arm’s-length transaction, after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion. Service-Providing Entity The entity which has provided this valuation is solely the entity named on this report (with its associated ACN/ABN). No other entity forming part of or associated with the Herron Todd White Group is liable. From time to time, the associated invoice for services may be issued by another Herron Todd White entity other than the serviceproviding entity named on this report. If this occurs, no professional liability is extended to the entity named on the invoice. Conflict of Interest Neither the valuer, nor to the best of their knowledge, any member of this firm, has any conflict of interest, or direct, indirect or financial interest in relation to this property that is not disclosed herein. GST Our valuation is on the basis the property is input taxed and free of GST. We are not privy to the financial circumstances of the current owner(s) nor previous transactions upon the property which may impact upon the status of the property in relation to GST. Should the property not qualify as GST free, our assessment is inclusive of GST. Liability limited by a scheme approved under Professional Standards Legislation. The scheme does not apply within Tasmania. Certificate of Title Not Sighted We advise that no title search of the property has been undertaken or sighted. As under the Australian Property Institute's PropertyPro Supporting Memorandum, it is not the responsibility of the Valuer to carry out a Title Search. In the event that a full title search is obtained and that it contains anything which could be considered a title defect or which may affect the value of the property, we reserve the right to review our valuation. Any Real Property Description (ie. Lot and Plan details) quoted in this report have been obtained from third party information sources and whilst endeavours have been made to verify such information we accept no responsibility for inaccuracy of any information provided and relied upon. Encumbrances Not Searched We have not undertaken a search of the encumbrances registered on the Certificate of Title. We recommend the instructing party undertake relevant searches and the valuer should be consulted and reserves the right to reassess any affect on the value stated in this report.
Valuer to sign or initial:
Valuers file ref: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 7 of 9
10. LIABILITY SCHEME Liability limited by a scheme approved under Professional Standards Legislation. The scheme does not apply within Tasmania.
Valuer to sign or initial:
Valuers file ref: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 8 of 9
PHOTOGRAPHS
Valuer to sign or initial:
Front
Bathroom
Kitchen
Bathroom
Bathroom
Pool
Valuers file ref: PTH302459
PROPERTY ADDRESS: 2 Gibson Street, Mount Pleasant WA 6153
Page 9 of 9
PHOTOGRAPHS
Valuer to sign or initial:
Outdoor Kitchen
Rear
Alfresco
Rear
Valuers file ref: PTH302459
