In a normal property sale between unrelated parties, the contract price the property achieves is used to assess the amount of stamp duty payable. However, when a sale is not conducted on the open market but negotiated between related parties, the government needs to ensure that the stamp duty paid is assessed at market value.
A Stamp Duty Property Valuation Report, provided by a registered valuer, is required by the Office of State Revenue when transferring ownership of businesses or real estate between related parties (e.g. a sale between family members). Although there may not be any money transferring between the parties, stamp duty still needs to be paid and the amount will be based on this valuation.
Stamp duty valuations are also required where property is being transferred into a superannuation fund and various trusts and entities.
McLennan Steege Smith & Associates (McSSA) can provide a short-form valuation for private customers, solicitors, conveyancers and businesses that will meet the Office of State Revenue’s requirements.
We are able to provide a cost-effective valuation report within a 48-hour period subject to access, availability and the property being a standard house or home unit.
An honest and personal approach
McSSA has been assessing and valuing property for well over 25 years and is well respected within the Sydney property industry. We are proud of the fact that much of our business is built on repeat clients and referrals. We offer the following benefits:
- Registered valuers with extensive experience and formal qualifications
- Adherence to stringent industry standards and a rigorous code of ethics
- Accurate, independent and effective reports
- Obligation-free quote based on your personal needs
- Guaranteed turnaround times to meet the requirements of courts
- Ongoing communication and personal service where you deal directly with the valuer
- In-depth knowledge of the Sutherland Shire, St George and the Sydney metropolitan area.
Offering independent and accurate advice
Contact us today to find out more about how we can help you with your valuation or to request an obligation-free quote.