SMSF Kerbside Assessment

What is this?
Law Central is working in connection with LMW, a national property valuation and property consultancy firm, to provide Law Central clients with a valuation service for residential property owned by an SMSF which is valued at $2 million or less.

LMW is offering 2 types of valuation for residential property owned by an SMSF:

1. Kerbside assessment; and
2. Full valuation.

Which valuation should I choose?

A full valuation will result in a more comprehensive report, which LMW recommends every 3-5 years and which some SMSF auditors may require upon the acquisition or transfer of a property by an SMSF. The kerbside assessment is a shorter report, generally used to support the on-going book value of the property in your SMSF accounts.

Please note that a kerbside assessment is not available when the property is not clearly visible from the road.

LMW recommends checking with your SMSF auditor as to which type of valuation they require.

What do you get?

LMW will email you directly an SMSF Kerbside Assessment which will contain information including the Assessment Range, Rental Range and comparative sales evidence.

Timing?

The assessment will be completed and emailed to you within 3 to 5 working days from the date of purchase of this document.

Disclaimer

All work involved in performing the LMW SMSF Kerbside Assessment and the subsequent written assessment will be completed by LMW only.

Law Central is not in any way connected with the kerbside assessment or subsequent written assessment.

Law Central disclaims and denies all liability arising from the LMW SMSF Kerbside Assessment and the subsequent written assessment and any liability arising from relying on the written assessment from LMW.

Checklist is not available for this document.

Sample is not available for this document.

Residential Property Owned by SMSF
• What if my property is not residential or I don’t know?
• My property is not residential. Can I still get an SMSF Kerbside Assessment done?
Property Value
• I don’t know the value of the property
Kerbside Visibility
• What does 'clearly visible' from the road mean?
• Will I be charged if the property isn't visible?
Contact Details of Property Manager/Tenant
• Why do you need these details?
Cancellation/Administration Fees
• Can I upgrade my Kerbside Assessment to a Full Valuation?

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Residential Property Owned by SMSF

• What if my property is not residential or I don’t know?

  If you are unsure as to whether your property is a residential property or if you know that it is a non-residential property and would still like to organise an SMSF Kerbside Assessment, please contact LMW directly on 1300 882 401 for a quote.

  This hint is provided by Acumentis.

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• My property is not residential. Can I still get an SMSF Kerbside Assessment done?

  If your property is non-residential, but you would still like to organise an SMSF Kerbside Assessment, please contact LMW directly on 1300 882 401 for a quote.

  This hint is provided by Acumentis.

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Property Value

• I don’t know the value of the property

  If you don’t know the value of the property or are in doubt as to whether it’s value is more than $2 million, please contact LMW directly on 1300 882 401 for a quote.

  This hint is provided by Acumentis.

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Kerbside Visibility

• What does 'clearly visible' from the road mean?

  Here are some examples of situations where it isn't possible to do an SMSF Kerbside Assessment:

  • Lots which are hilly or contain lots of trees.
  • Battle-axe lots where the dwelling in question is set behind another property.
  • Large strata developments with secured access and hence the dwelling is not visible.
  • Large strata developments where you cannot clearly identify the unit and are unable to assess the aspect (ie views).
  This is not an exhaustive list. Please use common sense. If you can't see your property clearly from the road, then a valuer won't be able to either.

  This hint is provided by Acumentis.

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• Will I be charged if the property isn't visible?

  If LMW is unable to conduct an SMSF Kerbside Assessment because the property isn't visible from the road and the valuer has not yet gone out to do the Assessment, then LMW will charge you an administration fee of 10% of the fee you've paid Law Central and you will receive the balance back as a refund.
  
  If the valuer from LMW has already gone out to the property to try to conduct the Kerbside Assessment but is unable to because the property isn't visible from the road, then LMW reserves the right to charge you an administration fee of up to 50% of the fee you've paid Law Central and you will receive the balance back as a refund.
  
  If LMW are unable to conduct the SMSF Kerbside Assessment because the property isn't visible from the road, you also have the option to upgrade your Kerbside Assessment to a Full Valuation. Please contact LMW directly on 1300 882 401 to organise.
  

  This hint is provided by Acumentis.

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Contact Details of Property Manager/Tenant

• Why do you need these details?

  The Assessment is an external assessment only, so tenants do not need to be home.
  
  However as one of LMW's valuers will be standing on the street taking photos of the property within 2 working days of your order, it is recommended that you notify your tenant asap in order to avoid any concern or alarm.
  

  This hint is provided by Acumentis.

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Cancellation/Administration Fees

• Can I upgrade my Kerbside Assessment to a Full Valuation?

  Yes.
  
  If LMW are unable to conduct the SMSF Kerbside Assessment because the property isn't visible from the road, you have the option to upgrade your Kerbside Assessment to a Full Valuation. Please contact LMW directly on 1300 882 401 to organise.

  This hint is provided by Acumentis.

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This document has been prepared by Acumentis