Compulsory Acquisition Property Valuation
Just because you own a property doesn’t mean that you own it completely. In certain cases your local council or state government can acquire your land under compulsory acquisition provisions in the Australian constitution. The compulsory acquisition process is quite lengthy and can take months to finalise. First of all you will receive a letter in the mail outlining the government’s intention to acquire your land.
The government has the authority to acquire your land for a variety of reasons such as building a new road, other infrastructure developments or public safety. When your land is acquired you will be entitled to compensation. The compensation value will depend on the overall value of your property. The government requires an independent valuation so they can accurately determine the compensation value that you should receive.
What is a compulsory acquisition valuation report?
Normally when the government wants to acquire your land you will have the opportunity to negotiate the value that they pay for the property. A compulsory acquisition valuation report can help you with those negotiations and will show the market value. The market value is the anticipated price that you could sell your property for if it was listed on the free market. A compulsory acquisition valuation will be based on internal and external factors that contribute to the value of the property such as the location, the proximity to amenities, the street appeal, the size of the property, the property’s condition and the age of the property.
Why choose West Coast Valuers?
West Coast Valuers has been in business for over 20 years and only appoints valuers with at least 15 years of property valuation experience. We pride ourselves on our independence and diligence and we place the interests of clients above all else. We are not associated with any banks, real estate agents or government agencies which will give you confidence that you’re getting an accurate property valuation.
We offer a reliable service that you can count on and we are the preferred property valuer for clients. We maintain current knowledge of legislation and any valuation that you receive from us is a sworn legal document that can be used in court.
We appreciate that sometimes your matter will be urgent so we will always do our best to send your valuation report within 3-5 days of your enquiry.
If you have received a letter outlining intentions to acquire your property and would like to find out what your property is worth give us a call on (08) 6245 2131 so we can determine the value and help you get paid a fair compensation amount.