Unit Entitlement Valuations
Sovereign Valuations is experienced in undertaking unit entitlement valuations for new property developments. Within New South Wales a qualified property valuer is required to complete a Valuer’s Certificate within SP Form 3.07, whereby the property valuer apportions unit entitlement to each unit based upon relative levels of market value. As an example, if a development has four units, with Units 1 and 2 being valued at $2 million each and Units 3 and 4 being valued at $1 million each, then the unit entitlement would be apportioned as 200 each to Units 1 and 2, and 100 each to Units 3 and 4.
NSW Land Registry Services provides the following guidance as to the Valuer’s Certificate:
The Valuer’s Certificate is to certify the schedule of unit entitlement. This must be completed by a qualified valuer and provide the following:
the valuer’s full name
the company the valuer works for or where there is no company, the valuer’s full address
confirmation that the valuer is a “qualified valuer” as defined in section 4(1) Strata Schemes Development Act 2015
the professional body of which the valuer is a member, and
the valuer’s class of membership and their membership number
You can view further NSW Land Registry Services requirements with regards to unit entitlement valuations by clicking here.
Contact us today to find out more about our unit entitlement valuation service and how we are able to assist with your requirements.