Part of the Future Property Professionals Program
The Future Property Professionals Program was developed and implemented by the API to provide graduates with quality education and a training pathway from academic excellence to property professional competency. Designed by property professionals, educators and technical experts the program focuses on the skills required to prosper in a dynamic professional environment.
About the Building Inspection Module
The objective of this Module is to provide valuers with the criteria to be addressed in their inspection of residential premises to facilitate the preparation of a valuation report in accordance with Valuation Practice Standards to include the information to satisfy the requirements of Australian Standard, Inspection of Buildings, Part 1: Pre-purchase inspections - Residential buildings (AS 4349.1-2007).
It is not intended that all valuation reports reflect this objective but rather the module provides an opportunity for valuers who are looking to expand their services to include within their valuation reports the required description of the condition of improvements in accordance in the format required by an Australian Standard.
The Module identifies and highlights that an inspection complying with AS 4349.1-2007 is not a rigorous Structural Survey (see exclusions in Appendix D of the Standard) and moreover, the Module identifies that the basic criteria of AS 4349.1-2007 are closely reflected within the scope of the inspections and reports required by Valuation Practice Standards. The Australian Valuation Practice Standards require the inspection, disclosure and reporting of many additional matters outside the scope of AS 4349.1-2007. Inspection of the buildings is but one of the duties of a valuer. By fulfilling the objective of incorporating the requirements of AS 4349.1-2007 into a valuation report, the report will provide clients with superior property advice unique to the valuation profession.
CPD Points: 2