December 2011 E-news

Release of Residential Valuation and Security Assessment Proforma Supporting Memorandum

 

Release of residential valuation and security assessment pro forma Supporting Memorandum

The Australian Property Institute (API) in conjunction with the major lending institutions, lender mortgage insurers and valuation firms has conducted a significant review of the Residential Valuation and Security Assessment Pro Forma Supporting Memorandum.

The Supporting Memorandum provides the basis upon which Members of the API will provide valuations of single residential property for first mortgage purposes using the PropertyPRO ‘Residential Valuation and Security Assessment Pro forma Report for Mortgage Purposes.’

The Supporting Memorandum sets out the limitations and qualifications inherent in valuations, and in particular the Risk Analysis provided in the report... [Read More]

 

PROFESSIONAL PRACTICE & INTERNATIONAL VALUATION STANDARDS

The International Valuation Standards Council (IVSC) publications are regularly reviewed to maintain relevancy, consistency, clarity and application.

The International Valuation Standards Council (IVSC) has announced that:

  • IVSC Standards (Eighth Edition published 2007) will be withdrawn on 31 December 2011.
  • New standards (IVS 2011) have been released and will become effective from 1 January 2012.

Whilst the timing of the issue of the new standards has not been ideal, having been involved in the preparation of the new standards via formal submissions, we endorse the direction the IVSC is taking...[Read More]

 

THE New NSW website Launches

The NEW NSW Website Launches

API NSW websiteThe NSW Division of the Australian Property Institute (API) has launched a revolutionary new website, www.nsw.api.org.au.

The new website gives the API a fresh, up to date look whilst providing all the information that members of the API need. The API's new look is just step one of the web development - the list of "coming soon" items include a range of items that will assist both API Members and members of the general public.

They include:

  • Find a Property Professional - an online way to find Members of the API who can assist with your specific property requirements
  • Online transactions - the ability for Members to register for events and pay subscriptions online - 24 hours a day, 7 days a week
  • Greater resources for Members - full access to each edition of the Australian and New Zealand Property Journal and all its previous namesakes is just one of the resources proposed to be made available to API Members.

Stay tuned www.api.org.au and www.nsw.api.org.au for further developments.