Conditions of engagement
Our reports may only be relied upon by the parties nominated. No liability will be accepted to any other party without the prior written agreement of M3 Property.
Purpose of Report
The report is issued solely for the purpose as nominated. No liability is accepted if the report is used for another purpose.
Our payment terms are noted in our quotation letters. Any overdue amounts will attract an administration fee of $100 per month.
Date of Valuation
Due to changing market forces our valuation is only regarded as relevant as at the stated date of valuation. In line with accepted industry practice our valuations can be relied upon for a period of 90 days after the said date of valuation. After this time the valuations should be referred to M3 Property for confirmation.
M3 Property relies on various pieces of information provided to us and will undertake reasonable endeavours in line with prudent valuation practise to substantiate the accuracy of this information. In specific relation to key information sources we note the following:
We will ascertain relevant town planning information from public information sources. Unless specifically instructed we will not make formal inquiries with the relevant authority to substantiate this information.
We will assume that the register search statement provides full disclosure of relevant encumbrances, encroachments, notations, restrictions, covenants or other matters that may be material in terms of the valuation.
Unless provided with specific expert opinion regarding site contamination we will make general comment only. Our environmental inquires will generally be limited to the following:
Current and historic use of the property
Adjoining land uses
Issues revealed by site inspection
Review of available site audits (if available)
Presence of Environmental Audit Overlays
Comparing the current and historic land uses to the Australian Property Institutes list of potentially contaminating land activities
Likelihood of the existence of Native Grasslands
If there are no obvious risks identified from our inquiries we will assume that the property is not contaminated and make appropriate disclaimers in this regard. If we believe that there is reason to believe that contamination is an issue we will recommend that a suitably qualified opinion be sought.
We will only obtain a certificate confirming if the property is noted on the contaminated sites register if requested by the client.
Unless otherwise stated we will assume that all development has received appropriate statutory planning approvals.
We will assume that freehold title precludes the property from the potential for any claim under Native Title.
We will make general comment regarding the condition of building services only. We are not building services experts and cannot provide definitive comment as to the suitability or condition of such.
Unless stated we will assume that all improvements comply with relevant statutory requirements.
Condition & Repair
We will make general comment regarding the condition and state of repair of the improvements only and identify any obvious deficiencies or defects. We will not inspect inaccessible or unexposed parts of the building. In the absence of any obvious defects, deficiencies or technical reports will assume that the improvements are in reasonable condition having regard to their age and use.
The client is required to disclose in good faith all information requested and any other information that may be material in terms of the valuation. This additional information may include but is not limited too:
Building defects and deficiencies
Outstanding tenant incentives
Cash flow analysis is a valuation tool based with the investment parameters based on analysis of comparable sales. Our assumptions regarding future cash flows and the terminal value of the property are based on market parameters that are current as at the date of valuation but may change over time.
Unless noted to the contrary all figures quoted within our valuation reports are GST Exclusive.
Our reports are prepared in accordance with Australian Property Institute Practice Standards and Guidance Notes.
Our quotes include 1 original report, one copied report and a PDF version. Additional copies are available at the rate noted in the quote letter.
Only a signed original of the valuation should be relied upon and no responsibility will be accepted for photocopies of the report.
No part of a valuation or any reference to it may be included in any other document or reproduced or published in any way without written approval of the form and context in which it is to appear.
We undertake valuations assuming fair to good property management and responsible ownership.