This article will cover 2 methods of property valuations;

1. Auto Valuations
2. Manual Property Valuations

Auto Valuations

Ensure the property address is first verified with RP Data, refer to Setting up a Property Account for guidance. 

We will guide you through the process of obtaining an automated property valuation from RP Data CoreLogic.

Automated valuations can only be obtained for residential properties. To revalue commercial properties refer to Manual Property Valuations

Navigate to Fund Level > Investments > Browse Holding Accounts

1. Select the Property you wish to revalue, by selecting the Holding Account.
2. Click Property Valuations 
3. Click Request Automated Valuation. 
4. A new window Request Automated Valuation will open. 

   You can amend the number of bathrooms. bedrooms etc. in order to provide the most accurate information before requesting the valuation.

5. Select Request Automated Valuation button. 
6. The Maintain Property Valuation screen will provide the value of the property, along with an accompanying PDF report.
   (If the PDF Report does not load you can select the Supporting Document Link)
   
   
   
   
7. You can Approve or Reject the valuation, by selecting the relevant button. 

The Reliance Indicator (FSD), refers to the Forecast Standard Deviation (FSD), the lower the percentage the more reliable or accurate the value is. FSDs below 15% are the most reliable.

Manual Valuations

This section will guide you through the process of entering a manual property valuation.

Manual valuations can be used when you do not wish to use RP Data CoreLogic to revalue the property, or the property is commercial and needs to be revalued.

Navigate to Fund Level > Investments > Browse Holding Accounts

1. Select the property you wish to revalue manually by selecting the Holding Account.
2. Click Property Valuations 
   
   
   
   
3. Click New
4. Enter the following details
   1. Valuation Source = This is where the property valuation was obtained from
   2. Valuation Status =Confirm the status of the valuation, this can either be "Approved" or "In Progress" if the valuation is yet to be approved. 
   3. Price/Valuation = This is the total amount of property valuation.
   4. Effective Date = This is the Date from which you wish to use the valuation amount obtained.
   5. Valuation Date  This is the date when the valuation was obtained or sourced. 
   6. Valuation Type = Use the drop-down to select the valuation type that reflects the type of value obtained
   7. Reference = Optional field, you can enter a reference of where the valuation was sourced from.
   8. Supporting Document = Optional, you can upload documents pertaining to the valuation obtained by selecting Choose File.
      
       
      
      
5.  Click Save
   

What's Next?

You can request title searches and commercial property valuations from RP Property Hub.