Valuation Specific Terms

These Valuation Specific Terms are incorporated into the Agreement formed by the Client signing the Service Order. The definitions and terms relating to interpretation set out in the Valocity Licence Terms, available at apply to these Valuation Specific Terms.


Report/Service Description
Residential Full Valuation An approved panel Valuer is allocated through the Valocity System to internally inspect Standard Residential Property in order to complete and upload a detailed market Valuation report to the Valocity System.
Desktop Valuation An approved panel valuer is allocated as order request through the Valocity System for them to prepare a market valuation report based on data available about the property, and comparable properties in the area, without an internal inspection being conducted.
Commercial Full Valuation An approved panel Valuer is allocated through the Valocity System to internally inspect Standard Commercial Property in order to complete and upload a detailed market Valuation report to the Valocity System
AVM Report A report is generated by an automated system using valuation models to calculate a property’s value at a specific point in time based on variable such as comparable sales data and previous variations.
Urgent Report Urgent Report
Non-Standard Valuation See clause 6 below.


2.1       Each Valuation Report is prepared on the basis of the following assumptions unless expressly advised by the lender / ordering party at the time of submitting the request or any time prior to receiving the final Report:

  1. The Client has provided Valocity and the Valuation Firm or Valuer with a full disclosure of all information in its possession and other material facts which may affect the preparation of the Valuation Report;
  2. That all building codes, regulations and by-laws have been complied with and that all building and other work has been completed strictly in accordance with all relevant requirements;
  3. The Property has no adverse or beneficial information recorded on a Property file kept by the relevant authority;
  4. There are no detrimental registration(s) affecting the Property other than those appearing on the certificate(s) of title for the Property. The Valuation Firm will not normally undertake investigations into detrimental registration(s) affecting the Property unless specifically requested to do so;
  5. The Property is stable and free from contamination (including asbestos, other chemicals, toxic waste or other potentially hazardous materials) or in an area that is not subject to liquefaction or likely to be subject to liquefaction and is in an area that is not likely to be subject to other instances of ground or sub-soil instability;
  6. There are no easements, encumbrances or registrations other than those (if any) disclosed in the certificates(s) of title of the Property;
  7. There are no side agreements or arrangements in place that would have an adverse effect on the valuation of the Property;
  8. That if a search of council records has been undertaken for the Property the search would not have disclosed any information which would have affected the value of the Property; and
  9. Hot and cold water systems, electrical systems and other devices, fitting and conveniences, are in proper working order and functioning for the purposes for which they were designed.

2.2       The Valuation Firm (or Valuer) does not purport to provide in respect of the Property:

  1. A site or structural survey;
  2. Suitably qualified professional advice in respect of building or site contamination or the presence of “Leaky Building Syndrome” or weathertightness issues;
  3. Any testing or verification of the existence of the supply and operation of water, power, phone, wastewater and storm-water disposal systems or other services and utilities unless otherwise stated;
  4. Any boundary survey of the Property and unless otherwise stated the Valuation Firm (or Valuer) will assume that all improvements lie within the title boundaries;
  5. Any environmental or geotechnical survey; or
  6. Any view on the possible presence of archaeological sites or sites of historical or cultural significance.

2.3       It is also acknowledged by the Client where any one or more of the assumptions set out in section 2.1 of this Schedule above is not correct, neither Valocity nor the Valuation Firm (or Valuer) accepts any responsibility for any such incorrect assumptions.

2.4       The Valuer may state other assumptions that they have made in performing the Valuation Services in the Valuation Report.  In the event of any inconsistency between the assumptions made above and the assumptions made in a Valuation Report, the assumptions made in the Valuation Report will prevail to the extent of the inconsistency.


3.1       The Client will be supplied with a timeframe for completing each Valuation Report at the time the Valuation Request is made.


4.1       Subject to clause 4.2 below, the standard Service Level times for completion of a Valuation Report, excluding non-standard valuation which are subject to clause  6 below, are:

  1. for residential valuations:
    1. 2 Business Days (48 hours) for properties in a metropolitan area; and
    2. 3 Business Days (72 hours) for properties in a remote area; and
  2. for commercial valuations 7 – 15 Business Days dependant on the type of commercial property,

provided that:

  1. the time period will start when the Client inputs the Valuation Request into the Valocity System, and the Valuation Request is accepted by the Valuation Firm to whom the order is assigned and ends when the Valuation Firm uploads the completed Valuation Report via the Valocity System.


4.2       The Client acknowledges and agrees that the Valocity System enables a Valuation Firm to input a “Delay” where there is some factor outside the Valuation Firm’s control or further due diligence is required that does not enable the Valuation Firm to continue with the Valuation. By inputting a “Delay”, the Client is notified of the delay in the Valuation Services and the “Service Level clock” is effectively stopped, until the matter giving rise to the Delay is resolved.

4.3       Valocity will not be responsible to the Client or any other party for any delay in the delivery of a Valuation Report.

4.4       The standard Service Level response times to Valuation Requests are 2 Business Hours of the Valuer/Valuation Firm being notified by the Valocity System of the Valuation Request.

4.5       The standard Service Level response times for queries is 1 Business Day from the time and date of the query.

4.6       The standard Service Level response times for informing the Property owner of the inspection date is 1 Business Day from the Valocity System issuing the Valuation Request.

4.7       The standard Service Level response times for resolving a conflict of interest is 4 Business Hours from the Valuer/Valuation Firm being notified by the System of the Valuation Request.


5.1       If the Client requests an Urgent Report, Valocity will use its reasonable endeavours to procure that the Valuation Firm endeavours to deliver the Urgent Report in less time than the relevant Service Level.


6.1     A non-standard valuation is a Valuation, excluding an AVM Report, of a property which is not a Standard Commercial Property or Standard Residential Property.

6.2       Non-standard valuations may be subject to a different process of valuer selection, quotation, and pricing as notified by Valocity from time to time and may be on a case by case basis.

6.3       Valocity reserves the right to refuse a non-standard valuation request at its sole discretion.