Undertaking a Valuation of a Dwelling Assignment

Assignment tasks
There are four (4) separate tasks to be undertaken for the assignment as listed below.
1. Find 3 comparablerecently sold properties:

Conduct a search in the marketplace and identify 3 properties which aresimilar to your selected dwelling. Make sure each property has sold withinthe last 12 months and you have information on the sale date, how much itwas sold for etc. You can also choose similar properties that are currently onthe market for sale as comparable properties. Try to select properties whichhave similar characteristics to the subject property as much as possible (forexample same number of bedrooms, bathrooms, reasonably similar section
and floor areas etc). Discuss the process you took for finding and inspectingeach property.

2. Describe each property:

Describe each sale property including the land and the building. Make sureyou refer to the condition of each building (internal factors) and any otherfactors that may affect value e.g. on a busy road, large parcel of land, etc(external factors). Include a map of the location in the appendices. Add anyother relevant information.

3. Describe subject:

Describe the subject property (internally and externally). Discuss anyproperty overlays (including zoning); any relevant planning requirementsand physical characteristics (land and building components). Also discussthe external factors affecting its property value.

4. Compare to subject:

Compare each of the 3 sale properties to your original property. Note youcan only compare a house with a house (i.e. not with a unit, etc.). Commenton whether the

(a) land for each sale is inferior, similar or superior incomparison to the subject

(b) same process for house component

(c) sameprocess for entire property (i.e. both house and land together).

Byconsidering the comparison of characteristics, provide a subjective opinionon the value of the subjective property (for example, the value of the subject
property would be lower / higher than the market value of comparable 1).Note that this is only a subjective opinion of the valuation of the subjectproperty. You will need to use a Ranking Table Analysis to demonstrateyour comparison.