Many people confuse property valuations with real estate appraisals, but they serve very different purposes.
What is a Property Valuation?
A property valuation is a formal, independent assessment conducted by a licensed property valuer.
- Legally recognised for tax, mortgage, and legal purposes
- Based on in-depth market research and property analysis
- Unbiased and independent – Not influenced by potential sales commissions
When Do You Need a Property Valuation?
- Buying or selling a home
- Applying for a mortgage or refinancing
- Investment property analysis
- Capital gains tax or legal settlements
What is a Real Estate Appraisal?
A real estate appraisal is an estimated market price provided by a real estate agent.
- Used for selling purposes – Helps determine a listing price
- Not legally recognised – Cannot be used for tax or bank applications
- Influenced by market trends and sales strategies
Key Differences Between a Property Valuation and a Real Estate Appraisal
| Feature | Property Valuation | Real Estate Appraisal |
| Who Conducts It? | Licensed Property Valuer | Real Estate Agent |
| Legal Recognition | Recognised for banks, legal, & tax purposes | Not legally binding |
| Purpose | Mortgage, tax, legal, & investment decisions | Selling & marketing strategy |
| Bias | 100% independent | May be influenced by sales potential |
Conclusion
If you need a legally recognised, accurate, and unbiased assessment, always opt for a professional property valuation in Hobart. Book a valuation today!
