Narrative Valuation Report of Residential Dwelling Assignment

Narrative Valuation Report of Residential Dwelling Assignment
May 01, 2019
Author : Chloe Kirner

The professionals are often asked to prepare valuation reports of property and these professionals are called appraisers. But the appraiser is no good without words and these words are best shared with the help of a narrative report. Students are given the assignments to prepare a narrative valuation report and an accounting assignment help provider is here to help.

The Structure of Narrative Valuation Report

Narrative reports are effective because, through this, the appraiser (you) can lead the reader through developing the appraisal. And in the end, you can defend the value that you have presented. Also, in a narrative valuation report, the document is comprehensive because there are no space restrictions.

1. Title page

The title page is where you are going to let the reader know the key details of what the report is, what is the property you are evaluating, the type of property and the name of the client for which the valuation is presented.

For your narrative valuation report, the details will be -

2. Table of Contents

The table of contents is used to let the readers navigate through the report easily. I don’t think I need to tell you how to prepare a table of contents, do I?

3. Assumptions and conditions

When you are writing a narrative valuation report, you might not get all the information you are looking for. Therefore, you assume some factors, prepare your report according to a condition and work your way around some limitations.

Mention them here.

It would not be wise if you are not mentioning the limiting conditions for the reader. When you mention the limiting conditions, a large proportion of flaws and shortcomings of the report are automatically answered.

4. The appraisal process

Here, you need to discuss the process that you will undertake to estimate the value of the property. You may not necessarily go into the depths of the valuation process but at least provide an overview to the client that what steps you have undertaken are correct to reach the conclusion you have presented.

The points to include here are as follows -

Property Description: The subject is a two storey residential dwelling cottage that was built approximately 10 years ago. The subject is built on a slab foundation.

Address: Example Residential Cottage, New South Wales

Legal Description: House Number

Zone Code

Area

5. Location Analysis

For the analysis of the location, you need to conduct a PESTEL model. You have to analyse the entire location for the social factors, the demographic profile, the government regulations and the economic information for the location.

Where will you find information for this analysis? At the Local Chamber of Commerce, the Australian Bureau of Statistics, the regional planning bodies and the city public relations department. You can look for the information there.

Prepare the city analysis using the following factors -

  1. Quality of living compared with some other place
  2. Employment rate
  3. The age groups, population growth rate
  4. Facilities like transportation, road, medical, etc.
  5. Government services

The neighbourhood can be analysed with -

  1. The boundaries of the dwellings

  2. The location of the school, shopping, etc.

  3. The age and style of the buildings

  4. Percentage of the area developed

  5. Municipality services

  6. The culture of the people

This concludes the second part of the narrative valuation report. There are a lot of sections in the report that still remain from a discussion like -

  1. Site Description

  2. Improvement Description

  3. Highest and Best Use Analysis

  4. Land Evaluation

  5. The Cost Approach

  6. The Sales Comparison Approach

  7. The GRM (Income) Approach

  8. Reconciliation

  9. Statement of Limiting Conditions

  10. Addenda

A solved narrative valuation report of residential dwelling

The accounting assignment experts at My Assignment Services are experienced in writing the best narrative valuation report that the professors expect. We take into the sections that were discussed as well as those that were not. How can you take advantage of the expertise of our professionals? You can ask these experts to guide you in a personalised mentoring session.

And if that is not enough, you can ask us to prepare a reference solution. We prepare 100% original and unique assignment answers that you can use for reference to prepare your own answers. How does that help you? You can submit your assignment to the professor on time!

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About the Author

Chloe Kirner

Chloe Kirner is a mechanical engineer by profession but has detailed knowledge about other branches as well which encompasses of chemical, civil, electrical, etc. After completing her PhD from Monash University, she worked as a freelance expert, guiding students through their tasks and assignments. She has contributed papers in international conferences and is an active researcher. She especially enjoys guiding students in their research projects by helping them prepare a proposal and then a report. She has written several articles and blogs for the help of students in answering their engineering assignment queries and is currently an engineering assignment help provider at My Assignment Services.

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