The user of the report/advice acknowledges the following:
1. The report/advice is prepared for use by the instructing party/user to whom it is addressed only and for no other party or purpose. Unless required by law or regulatory authority, the user will not disclose the contents of this report to any third party. The valuer and the valuation firm shall have no responsibility for or have any liability to any third party for losses or damages (whether consequential, incidental or otherwise) in relation to this report.
2. The user shall, to the maximum extent permitted by law, indemnify, defend and hold harmless the valuer and its affiliates and its and their respective officers, directors, employees and agents (collectively, the “Indemnified Parties”) from and against all liability (statutory or otherwise), claims, suits, demands, damages, judgments, costs, interest and expenses (including reasonable attorneys’ fees and disbursements) to which an Indemnified Party may be subject or suffer, based upon, arising out of, or in connection with, any act or omission (alleged or otherwise) of an Indemnified Party in connection with or related to the carrying out of any express or implied instructions of the user/client. Any reference to ‘Valuer’ is also a reference to the valuation firm.
3. The valuer accepts no liability for any inaccuracy or omission contained in information disclosed by the user or on its behalf. Should the valuer discover any inaccuracy or omission contained in the information provided to it by or on behalf of the user the valuer reserves the right to review the contents of this report. The user accepts that full investigation of the legal title and any leases is the responsibility of the user.
4. The maximum amount of compensation payable (if any) will be 10% of the valuation fee paid and will constitute full settlement of the claim against the firm and/or its employees, directors, agents and officers.
5. All quotations provided are valid for 14 days from the date of quotation. After this date the customer must re-submit their request for re-quotation, request an extension or ask AVG if they are prepared to honour the original quotation and terms. It is entirely at the discretion of AVG if it wishes to honour the original quotation. If the customer wishes to alter or amend the original terms and/or instructions subsequent to the original quotation being provided by AVG then they must do so in writing clearly outlining what changes they wish to make to the original terms and instructions. AVG will be entitled to charge for any additional work.
6. Unless a customer has an account with AVG they will be required to pay for the report before proceeding or to pay a security deposit. Customers with an account will have 30 days from invoice date to pay their account.
The Valuation has been prepared in accordance with AVI and/or API Practice Standards and the clients instructions. The Valuer has no interest, personal or otherwise, in the property valued or with the parties involved with the dealing, including the selling agent if any. The Valuer is independent from the transaction.
Valuation is not an exact science and as such our opinion should be seen and used as a guide to the likely value/sale price of the subject property at the date of valuation and not as a definitive figure. The ultimate sale price will depend on the market and the buyers on the day.
The valuation is current as at the date of valuation only. The value assessed in the report may change significantly and unexpectedly over a relatively short period (including as a result of general market movements or factors specific to the particular property). We do not accept liability for losses arising from such subsequent changes in value. Without limiting the generality of the above comment, we do not assume any responsibility or accept any liability where the valuation is relied upon after the expiration of 3 months from the date of the valuation, or such earlier date if you become aware of any factors that have any effect on the valuation.
The user must read the report in its entirety. If after reading the report, you are not satisfied with any part of the report, you should refer the report back to the valuer for clarification before relying on the report. If you do not refer the report back to the valuer within 7 days of the valuation date, it will be assumed that you have read the report and are fully satisfied with its contents and no further complaints or correspondence will be received or entered into with regard to the report.
If the matter is referred to the valuer within the allowable time frame the valuer will be entitled to amend/alter the report as he/she sees fit and charge the user/client for any additional time spent on the matter including replying to correspondence and questions put to the valuer and reviewing any additional information sent to the valuer at the rate of $495/hr inc GST or part thereof. The report may only be referred to the valuer once for review and amendment.
Unless stated as otherwise in the report, we advise that a copy of the current Certificate of Title has not been provided or searched nor has a copy of the strata or deposited plan. The valuation assumes clear title free of any encumbrances, encroachments, easements or other notations on title. Should this not be the case, AVG and the valuer reserve the right to review and if necessary amend the report.
AVG Valuers and the valuer performing the valuation hereby declare that they make no guarantee, promise, warranty, representation or undertaking that the lodgement of the report will result in any predetermined requirements of the instructing party or the user being satisfied. We direct your attention to the other qualifying statements contained within the report.
In accordance with the clients/users instructions, the Valuer may amend their original report and provide an Amended Report. In such circumstances, the original report is withdrawn and must be returned to the valuer promptly. An amended report will in no way constitute a new report.
The valuation adopts the following definition of market value:
“Market value is the estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing, allowing a reasonable period for the sale and on the basis that both parties have acted knowledgeably, prudently and without compulsion”.
It is acknowledged and agreed between all parties that the jurisdiction for any arbitration, mediation and court related matters shall be Sydney, NSW, Australia.
AVG Valuers reserves the right to review and amend the above Terms and Conditions at any time and without notice to the user/client. Should there be a discrepancy between the terms and conditions in the valuation report and what is published on this website under “Terms and Conditions”, the terms and conditions as published on this website will take precedence and over-rule the terms and conditions in the valuation report.
Liability limited by a scheme approved under Professional Standards Legislation.