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  1. #1
    Join Date
    Feb 2005
    Location
    Auckland
    Posts
    624

    Default Chattels Valuation

    Hi

    Can anyone give a contact for a good chattels valuation company.

    We have just gone unconditional on our first IP and need a chattels
    valuation done before we go and see our accountant.

    Regards

    FH.

  2. #2
    Join Date
    Aug 2003
    Posts
    7,623

    Default

    We recommend Valuit - look above to your left and you'll see the Valuit logo in the 'menu' - click on that and you'll be taken to their site. I personally use their services and they are nationwide.

    Cheers,

    Donna :P
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  3. #3
    Join Date
    Feb 2005
    Location
    Auckland
    Posts
    624

    Default

    Hi Donna

    I was just on their site about an hour ago. I thought that they might be
    worth a look.What are there general charges per dwelling?

    Regards

    FH.

  4. #4
    Join Date
    Jan 2005
    Location
    Auckland
    Posts
    1,530

    Default

    FH

    Why not ask them directly rather than going through a third person?

    Warren of Valuit is a regular contributer here in the Finance and Tax section. He has given an indication of his charges (see his postings) but the cost will obviously depend on the location, and on the size of the dwelling concerned. If he, or someone from his company, has to fly to say the Chatham Islands it will obviously cost a little more than if the IP is next door to his offices. Similarly a 26 bedroom mansion will cost more than say a bedsit.

    Ring him, tell him what you have, where it is, and ask how much it is likely to cost.

    Julian.
    Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!

  5. #5
    Join Date
    Feb 2005
    Location
    Auckland
    Posts
    624

    Default

    Hi Julian

    It is amazing when you use common sence what you can come up with.

    I guess that I had become lazy because of all the hard work I had done to get this far. Thanks for the insight.

    Will contact them direct.

    FH.

  6. #6
    Join Date
    Feb 2005
    Location
    Auckland
    Posts
    624

    Default

    Also do all you experienced investors think that chattels valuations
    is an important part of setting up the IP.

    For tax purposes only. It just seems that I have just had a valuation already
    done on the IP and now need a separate valuation for the chattels at
    a cost of $320.00. Not cheap to value curtains, carpet and cupboards.

    Any thoughts!

    FH.

  7. #7
    Join Date
    Aug 2003
    Posts
    7,623

    Default

    Okay here are some links to threads that you should read:

    http://www.propertytalk.co.nz/posts2...tchattels.html

    http://www.propertytalk.co.nz/posts2...tchattels.html

    http://www.propertytalk.co.nz/posts2...tchattels.html

    They will provide you with insight from seasoned investors, professionals and newbie investors too.

    Cheers,

    Donna :P
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  8. #8
    Join Date
    Feb 2005
    Posts
    261

    Default

    Quote Originally Posted by FreezingHot
    For tax purposes only. It just seems that I have just had a valuation already done on the IP and now need a separate valuation for the chattels at a cost of $320.00. Not cheap to value curtains, carpet and cupboards.
    FH.
    FH,

    I have used Valuit and they are great.

    What they actually do is get the S&P price you paid (they care not about the actual valuation) and then break that into seperate 2 components:

    a) land
    b) improvements

    Land you cannot depreciate and they then set about breaking down the improvements (house/garage) into loads of categories and give you a report which your accountant will use to calculate the depreciation you can claim on all these components as opposed to 4% on improvements only without such a report.

    It is NOT a valuation as such.

    'Apportionment paid on purchas price' is possibly more accurate but a bit long winded. Maybe APOP will catch on. I shall trademark that word before someone else does.

    I had other people offer chattel valuations to me, but I have yet to see one as comprehensive as VI.

    There is a bit of a debate raging at present of which way to go, and as Donna pointed out there are already enough threads covering this subjet.

    Also, would be great if you kept this to your original thread First IP - What you think to give people a time line of how you went about your first IP and what you did.

    Have fun.

    Fritz.

  9. #9
    Join Date
    Jun 2005
    Location
    Auckland, New Zealand
    Posts
    82

    Default

    FreezingHot,

    It looks like most of your queries have been answered.

    The fee for a standard stand-alone dwelling on its own site is $325 plus GST. The standard fee for an apartment is $400 plus GST.

    If you have any further queries please post them on PT, send me a private message or give me a call.

    Regards

  10. #10
    Join Date
    Jan 2005
    Location
    Auckland
    Posts
    132

    Default

    Hi Warren,

    Just wondering why the valuation would be more on an apartment. Surely the house would be larger (on average)?? I assume a valuation on a studio would be less than a 2 bedroom apartment? or not really?


 

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