ABFI Residential Valuation Standing Instructions Version 2.1

The Residential Valuation Industry Group (RVI Group) has conducted a review of V2.0 of the ABFI Residential Valuation Standing Instructions (ABFI RVSI), and have subsequently released a revised version. ABFI RVSI Version 2.1 will come into effect on 1 September 2018.

The current document, namely Version 2.0 will operate until that time.

The new version (ABFI RVSI V2.1) includes a number of changes throughout the document to provide clarity and consistency to Members and Instructing Parties.  Items of note include further guidance with regards to Suitable (In Scope) and Unsuitable (Out of Scope) property types, definitions for ‘off the plan’ purchases, existing/continuing/permitted use, relocatable (and off site) manufactured homes and rural lifestyle properties.  Several items have been added to VRA 1 and the minimum requirement of two photos for all Vacant Land Reports.  

Members are encouraged to review the entire document to ensure they are aware of all changes that have been made to the Standing Instructions.

A new online training module is currently under development in consultation with the RVI Group, and will be released by API education on 1 September 2018.

A copy of Version 2.1 is available here

Members can address any questions in relation to the revised version to standards@api.org.au