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Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics. The location also plays a key role in valuation.
The objective of the International Valuation Standards (IVS) is to increase the confidence and trust of users of valuation services by establishing transparent and consistent valuation practices. A standard within IVS will do one or more of the following: identify or develop globally accepted principles and definitions,
The Land Registry has been dealing with the registration of all transactions (purchase, sale, mortgage, remortgage and other burdens) concerning registered land since 1892, and issued land certificates which are a state guarantee of the registered owner's good title up to 1 January 2007. Land Certificates have been abolished by virtue of ...
A Cadastre is normally a parcel-based, and up-to-date land information system containing a record of interests in land (e.g. rights, restrictions and responsibilities). It usually includes a geometric description of land parcels linked to other records describing the nature of the interests, the ownership or control of those interests, and ...
The RICS was founded in London in 1868. It works at a cross-governmental level, [4] [5] and aims to promote and enforce the highest international standards [6] [7] in the valuation, management and development of land, real estate, construction and infrastructure.
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The Valuer General is responsible for standards and policy in relation to the land valuation system and determining compensation for the acquisition of properties and monitors the quality of the value of land and services to the community by Property NSW. [1] The Office of the Valuer General provides day-to-day support to the Valuer General.
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