MAJOR ASSIGNMENT: Term 1 - 2019
Due Date: To be handed in at class
Week 7 - Tuesday 2 April 2019
This assessment can be completed individually or with one other student.
NOTE: Week 2 (Week commencing 26 February) Students are required to provide the address of residential property they propose to complete for their major assignment.
This assignment comprises two parts
You are required to measure, and then draw to scale the residence in which you propose to complete your residential valuation. Calculate respective areas.
Will be identified during lecture week 2.
If you do not live in a freestanding dwelling, then it is suggested you gain access to a single dwelling (Friend, parents etc.)
Prepare a full “speaking“ valuation of the identified property as per API standards.
Complete the valuation using the Direct Comparison Method. Check your value by using the Summation method or if appropriate the Capitalisation Method.
Undertake a field inspection including a diagram, photos etc. You are required to provide at least 4 recent sales transactions (Last 3 months) and the sales selected should be within the value range of the subject. Sales evidence should be current market transactions (up to 3 months old) Use the web, Pricefinder, NSW Globe, Corelogic, talk to agents, check sales in newspapers etc.
The report MUST include a Certificate of Title and Deposited Plan.
Other inclusions should include appropriate disclaimers, sales evidence, photos, plan of subject property etc.
You are NOT required to obtain a Zoning Certificate.
The report should be presented in 2 sections as above and must be handed in at class on the week identified, completed as a professional report (typed & bound). Include at the back of the report ALL relevant field notes and a signed ‘Plagiarism Declaration’.
1) Scale diagram, area calculations 6 marks
2) Presentation of report 3 marks
3) Certificate of Title and Deposited Plan 2 marks
4) Report format and heading contents 6 marks
5) Sales and analysis 4 marks
6) Valuation approaches 6 marks
7) Spelling, grammar & annexures 2 marks
8) Field notes 1 mark
Ensure the report is phrased in you own words and is not a paraphrased version of an industry report.