Darwin Retrospective Property Valuation
At Territory Valuers, as a full-service valuation company we provide accurate property valuations services. Our expert Valuers have experience and specialisation within a wide range of valuation needs, including retrospective property valuations in Darwin and across the NT.
What is a Retrospective Property Valuation?
A backdated or retrospective property valuation is a valuation that is conducted to assess the value a property held at a certain date in the past. This differs from the standard property valuation which is conducted based on current market value and the state of the property “as is” at the current date.
Both current date and retrospective valuations include research of market data, including relevant sales of comparable properties. For a retrospective property valuation, the relevant sales will be those of similar properties in the local area around the time of the selected backdate.
Our expert property Valuers have extensive experience providing valuations on local properties. This enables them to ensure accuracy in conducting a retrospective valuation.
Retrospective Property Valuation Darwin
There are a number of reasons why you may require a retrospective or backdated property valuation. These primarily will be for legal or tax reasons when you need to prove what the value of your property was at a retrospective date.
Here are some common situations that may require a retrospective property valuation:
- Property valuations for Tax purposes
- Government grant submissions
- Internal Accounting Valuations
- Deceased estate valuation or Probate taxes that need a calculation of property price at date of death (DOD)
Perhaps the most common of these is Capital Gains Tax for investment properties. Your CGT liabilities are contingent on the increase or decrease in the property’s value from the date of purchase to the date of sale. As professional Valuers, we are able to accurately assess the original value of the property at the date specified, as well as its current market value.
Calculating a backdated value is not a straightforward process and involves a depth of research. Your property Valuer will factor in the price of the original sale, the year of purchase, original condition of the property if it has undergone improvements or development since, as well as other information to determine the historic value at a named date.
In order to receive an accurate figure, you must rely on a certified expert Valuer to complete your retrospective property valuation.
Whether you require current date or retrospective property valuation, we are able to provide high quality, efficient service. Contact us today on (08) 7918 0858 or fill out an online enquiry!