This article covers property valuations in Class including:

1. Property Valuations screen
2. Automated & Paid Valuations
3. Manual Valuations

Property Valuation Screen

Navigate to Fund Level > Investments > Browse Holding Accounts > Select the Property you wish to revalue, by selecting the Holding Account > Property Valuations

1. Effective Date: This is the date the valuation applies to
2. Request Date: This is the date when the valuation was obtained
3. Estimated Valuation: The estimated value of the property valuation
4. Type: The type of value obtained including
   • Automated Valuation Estimate: Obtained from one of the integrated providers RP Data Cotality or PropTrack
   • Desktop Assessment or Short form valuation: A valuation obtained through Class' integrated valuation service with PropTrack, from a registered valuer
   • Manual valuations: A valuation sourced externally from Class
   • Unknown: the valuation has not been updated
5. Source: This is where the property valuation was obtained from
   • One of the automated valuation providers: RP Data Cotality or PropTrack
   • The source you entered when you update the valuation manually
   • None: the valuation has not been updated
6. Status: The status of the valuation, this can be
   • "Approved" when the valuation is approved
   • "Pending" if the valuation is yet to be approved
   • "Rejected" if the valuation is rejected
   • "In Progress" if the manual valuation is yet to be approved
   • "None" if the valuation hasn't been updated
7. Supporting Document: The document pertaining to the valuation. You can click on 'Download' to view the document.
8. Action: Actions can be taken for a property valuation
   • "Edit" to update a new manual valuation
   • "Approve/Reject" to either approve or reject an automated valuation
   • "Edit/Delete" to either edit or delete an existing manual valuation

Automated & Paid Valuations

Class integrates with valuation providers to make property revaluations seamless:

Automated Valuation Models (AVMs):
Automated Valuation Estimates are available for residential properties via AVMs from providers RP Data Cotality or PropTrack. These estimates use market data and algorithms to calculate property values.

Paid Valuations: 
You can also request a paid valuation via PropTrack directly from within Class. This will provide you with a valuation from a registered valuer and provides a formal valuation document for compliance or reporting needs. Both residential and commercial properties are supported.

When an automated or paid valuation is retrieved, the details will populate automatically in the Property Valuations screen. You can review, approve, or reject these valuations.

Manual Valuations

This section will guide you through the process of entering a manual property valuation that hasn't been sourced directly though Class.

Navigate to Fund Level > Investments > Browse Holding Accounts > Select the Property you wish to revalue, by selecting the Holding Account > Property Valuations

Click New and enter the following details:

1. Source: This is where the property valuation was obtained from
2. Status: The status of the valuation, this can either be "Approved" or "In Progress" if the valuation is yet to be approved
3. Estimated 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. Request Date: This is the date when the valuation was obtained or sourced
6. 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. Note: Optional field, you can enter associated note for the valuation
9. Add Document: Optional, you can upload documents pertaining to the valuation obtained by clicking Add Document
   
   
10. Click Save or Approve
     

What's Next?

Learn about how to request Automated valuation Estimates for Property