Generally speaking, property valuations are completed at the date that the valuer inspects the property, however in some cases the valuation undertaken will be a retrospective or backdated valuation. Effectively this means the valuation is historical and reflects the price at a previous point in time.
When clients request a historical property valuation it is generally for a variety of different reasons including:
Capital gains tax;Divorce;Litigation;Probate and estate purposes.
A retrospective property valuation is important when you own an investment property because it can prevent you from paying too much tax.
Calculating a retrospective valuation
When obtaining a retrospective property valuation it’s important to utilise the services of a qualified and experienced property valuer. Doing so means you will get a precise and accurate result. Although it’s more difficult to value older real estate, our property Valuers have access to databases that contain historical information including the market conditions at the time that the property was sold.
Our property valuer will review the price that was in previous sales agreement along with other property information including any potential renovations or other works that have been completed on the property.
Valuations TAS Valuers are highly trained and experienced property valuers with over 20 years of local experience so you can be assured that because they regularly work in the area they know what factors have influenced the value of the property.
Why a retrospective valuation is important?
Capital gains tax can be significant and often costs thousands of dollars so to reduce the risk of paying too much tax it’s crucial to get your property valued. An accurate property valuation for capital gains tax purposes substantially increases the likelihood that you will pay the correct amount of tax.
Why choose us?
Valuations TAS are licensed property valuers who are registered with the Australian Property Institute (API) and have all the appropriate property valuation qualifications. They have also spent at least 15 years of property valuation experience in your area giving you the assurance that any value you receive is a true and accurate assessment of what the property was worth at a previous point in time.
Get in touch with us on (03) 6169 2559 to organise a time for one of our expert property Valuers to come and inspect your property.