We carryout compulsory acquisition and compensation property valuations for a number of corporate and private clients. The most common property valuation approach to these types of valuations is the “before and after” approach. This approach requires the property valuer to determine the property value before the “event” and then after the “event”, with the difference being the portion of compensation payable. There are other issues that we address too but this is the most basic explanation of the approach. We recommend engaging a solicitor when you are forced to sell the entire or portion of your property as there are many other things to consider that could increase your compensation amount including, but not limited to, stamp duty, short term rental costs, moving/relocation costs, and other inconvenience payments. A solicitor experienced with compensation/compulsory acquisition cases is best placed to advise you on what else you can claim as part of the compensation amount.
We also recommended you engage experienced property valuers Brisbane, as an accurate property valuation is important when trying to maximise the compensation payable. We have seen cases where unqualified and inexperienced property valuers have undervalued a site, which causes a flow on effect, resulting in a lower amount of compensation payable to the victim.
Please do not hesitate to be in touch with any of our experience property valuers Brisbane to discuss your compensation and compulsory acquisition property valuation Brisbane needs via telephone on (07) 3077 9695 or the contact form.