Terms of Engagement

Acceptance of Terms

By engaging Western Sydney Valuations and using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Engagement.
If you do not accept these terms in full or in part, you must notify us immediately and refrain from using our services.

Purpose of Valuation

This valuation report is prepared solely for the purpose specified in your formal instruction.
It is not suitable for mortgage or lending security purposes, and no liability is accepted if used otherwise.

Validity of Valuation

The valuation is current as of the date stated within the report and remains valid for 3 months.
No warranties or projections are made regarding future market performance.

Confidentiality & Use

This report is confidential and prepared exclusively for the instructing client.
It must not be reproduced, distributed, or relied upon by any other party without our prior written consent.

Reliance

The valuation must be read in full, including all appendices and disclaimers.
We accept no responsibility if any part of the report is used in isolation or by unauthorised parties.

Market Movement Disclaimer

Property values are subject to market fluctuations and site-specific conditions.
We are not liable for any change in value after the date of inspection or report issuance.

Conflict of Interest

To the best of our knowledge, no conflict of interest exists in relation to the subject property or parties involved.

Indemnity

The instructing client and any authorised relying party jointly indemnify Western Sydney Valuations, its employees, directors, and contractors against any claims, losses, or legal actions resulting from the use of this valuation.

Limitation of Liability

Our total liability is capped at the amount paid for the valuation service.
We are not liable for indirect or consequential loss, including loss of profit, unless proven fraud or willful misconduct is involved.

Disclosure Obligations

You are required to disclose all relevant and accurate information pertaining to the valuation.
We rely on your good faith and cannot be held responsible for omissions or misrepresentations.

Limited Liability Scheme

Liability is limited under a scheme approved by Professional Standards Legislation.

Amendments to Terms

We reserve the right to update these terms at any time. Where practical, changes will be communicated in writing.

Governing Law

These terms are governed by the laws of New South Wales, Australia.
Any disputes will be resolved under the jurisdiction of NSW courts.

Statements About Future Matters

Any commentary on future values or projections are estimates only and do not constitute guarantees.

Turnaround & Delivery

• Reports are typically completed within 2 to 10 working days, subject to property type and access.
• Reports are delivered in PDF format via email.
• Printed originals are available at $250 + GST; additional copies are $50 + GST each.

Cancellation Policy

• 50% of the fee is payable if cancelled after engagement confirmation.
• 100% of the fee applies if cancelled after inspection.
• No partial reports are issued for cancelled instructions.

Court Appearances

Court, tribunal, or mediation attendance is charged at $550/hour (incl. GST), with a minimum of 4 hours per day.

Additional Services

Preparation of supplementary documentation or participation in phone conferences is charged at $550/hour (incl. GST).

Payment Terms

• Full prepayment is required before scheduling an inspection.
• Invoices are issued upon receipt of a formal valuation request.

Overdue Payments

• Interest on overdue invoices is charged at 30% per month.
• You are responsible for any collection, legal, or enforcement costs.

Valuer Interest Declaration

Western Sydney Valuations and its representatives declare no financial or personal interest in the subject property.

Copyright & Confidentiality

This report remains the intellectual property of Western Sydney Valuations.
Reproduction, distribution, or public use without permission is strictly prohibited.

Valuation Basis

Valuations are based on either:

• “As Is” Market Value, or
• “As If Complete” Hypothetical Market Value, based on plans/specifications supplied.

Definitions

Market Value

“The estimated amount for which an asset should exchange on the valuation date between a willing buyer and seller in an arm’s length transaction after proper marketing, with each acting knowledgeably, prudently, and without compulsion.”
— Australian Property Institute (API)

Market Rental Value

“The estimated amount for which an interest in real property should be leased on the valuation date between a willing lessor and lessee, under appropriate terms, with proper marketing, and both parties acting knowledgeably, prudently, and without compulsion.”

Valuation Uncertainty

“The possibility that the valuer’s opinion of Market Value may differ from the actual price achieved, assuming market conditions remain unchanged.”
— International Valuation Standards (IVS)