Tax is one of the only certainties in this life and it cannot be avoided. Stamp duty can cost a considerable amount of money for anyone, let alone if you’re a first home buyer in which case you’ll need to add the cost of the stamp duty to your deposit savings.
This is why it’s in your best interests to contact NT Valuers for a stamp duty valuation. A valuation for stamp duty purposes is based on the market value of the property and is required by the Territory Revenue Office when a property transfer occurs.
What is a stamp duty valuation report?
The first step in getting a stamp duty valuation is to get a property inspector to value your property. A stamp duty property valuation will be completed by one of our expert property valuers. They will inspect your property and focus their attention on external factors such as:
The property’s zoning (residential or commercial);Rental vacancy rates;Gentrification and other development;Property supply and demand;The time on market;Population growth;Interest rates;Capital gains tax rates;Overseas interest in the market;Local amenities such as restaurants, cafes and supermarkets etc;Schools in the area;
They will also review internal factors including, but not limited to:
Name and number of the house – a name can add value to the property;Street appeal;The size of the house including usable space;The age and condition of the house;Past and potential upgrades and renovations;The paint colour and style – neutral tones such as white or cream increase a property’s value;Energy efficiency – a home with solar panels will be worth more than one without.
Why do I need a stamp duty valuation and is it mandatory?
When property ownership is transferred, Revenue SA requires a stamp duty valuation report that has been completed by a registered property valuer. This is because the stamp duty payable is determined by the value of the property.
Why choose NT Valuers for your stamp duty valuation?
Stamp duty is expensive and costs thousands of dollars. It is payable at, or before settlement occurs when a property is transferred. To ensure you do not pay more stamp duty than you need to it is imperative to get a stamp duty property valuation. Our property valuers are registered with the Australian Property Institute (API) and have completed stamp duty valuations for a variety of clients including companies, conveyancers, solicitors and trusts. We are highly experienced and knowledgeable in completing stamp duty valuations for the Territory Revenue Office. As part of our valuation process we use the best property databases around and compare the most relevant sales when preparing your property valuation report.
To book a stamp duty valuation inspection give us a call on (08) 8911 1505.