Written Property Appraisal: An Evidence Checklist for Sellers

Start by checking what property has actually been assessed

Before considering the price range, confirm that the written appraisal describes the correct property. The address is only the beginning. The useful description covers the dwelling type, title or owners corporation context where relevant, land or internal area relied upon, accommodation, parking, condition, renovations and the immediate street position. If a feature has not been verified, the report should identify the assumption rather than silently treating it as fact.

This matters in Kingston and Bayside because apparently similar homes can compete in different buyer sets. A renovated townhouse with no shared driveway is not interchangeable with an older unit in a larger group. A coastal address does not automatically have a view, direct access or the same exposure as another nearby sale. Ask for any material factual error to be corrected before using the appraisal to make a campaign decision.

• Confirm the property type, title context and accommodation.
• Separate verified features from assumptions.
• Correct material errors before relying on the range.

Check the evidence date and the market window

Comparable evidence loses relevance as buyer conditions, competing stock and finance settings change. A written appraisal should say when it was prepared and identify the sale dates of the evidence being used. A settled result from an earlier market can still offer context, but its age and any material change in conditions should be acknowledged. Current listings should be shown separately because an asking price is not an achieved sale result.

The report should also explain whether important recent evidence was unavailable, unusually scarce or affected by a different property type. An appraisal prepared well before launch may need to be refreshed. The purpose is not to chase every weekly movement; it is to ensure the seller knows which information was current when the estimate was formed and what new evidence could justify a review.

Read why each comparable sale was selected

A list of three addresses is not, by itself, an explanation. For each comparable, look for the relationship to the subject property: land or floor area, dwelling form, bedroom and bathroom count, parking, presentation, street position, title structure and local setting. The appraisal should say which similarities make the sale useful and which differences require judgement. A higher or lower result should not be copied across without that reasoning.

Consumer Affairs Victoria says an agent's estimated selling price must be reasonable and take comparable properties into account. The seller can therefore ask how the evidence supports the stated range, not simply whether the sales are in the same suburb. Where genuinely comparable transactions are limited, the report should widen the evidence carefully and explain the compromises rather than presenting weak matches as exact equivalents.

Understand the range, method and assumptions

The appraisal range should be read together with the proposed method of sale and the condition in which the home is expected to reach the market. An estimate formed on the assumption of completed repairs, professional presentation or vacant possession may not describe the property as it stands today. Likewise, an auction recommendation does not turn the estimate into a prediction of bidding or competition on one particular day.

Ask the agent to identify the assumptions that could change the opinion: access for inspections, timing, inclusions, unresolved title information, presentation work, campaign reach or a major new comparable sale. A useful report does not need to forecast every possible event, but it should make clear which inputs are central. This gives the seller a better basis for deciding what to investigate or prepare before signing an authority.

Keep an appraisal separate from a formal valuation

Consumer Affairs Victoria describes an agent's estimated selling price as an estimate rather than a valuation or guaranteed selling price. A written appraisal supports a selling discussion; it does not become a sworn valuation merely because it is detailed or printed. Finance, taxation, family law, estate administration or another formal purpose may require a valuation or advice from a properly qualified professional.

The report should therefore avoid absolute language such as 'the property is worth' when the evidence only supports an informed range. Sellers should be cautious if a single ambitious figure is offered without comparable reasoning, material assumptions or limitations. The stronger document is usually the one that shows its workings and uncertainty, even when that produces a more measured conversation than an unsupported headline number.

Turn the document into questions before appointing an agent

Use the appraisal as the beginning of a discussion. Ask which two sales carry the most weight, which buyer group is expected to respond, what current listings compete with the home, what would trigger a reassessment and how the advertised price information will be handled. If two agents provide materially different estimates, compare the evidence and assumptions before treating the highest range as the most persuasive proposal.

The final decision should connect value evidence with the complete campaign: method, preparation, marketing, reporting and costs. Keep a dated copy and request an update if launch is delayed or significant new evidence appears. An in-person appraisal can then test the written analysis against the property's actual condition and position, while any formal valuation need remains with the appropriately qualified valuer.