Property Valuers Profession Act, 2000 (Act No. 47 of 2000)Board NoticesGuideline Professional Fees determined in terms of section 35(2) of the Act1.0 Professional Fees for Valuations |
1.1 AD VALOREM TARIFF - Proposed figures
NOTE: The ad valorem fees include time spent inspecting the subject properly.
Value of Property |
Basic Tariff |
Additional to Basic Tariff |
Up to R50 000 |
R500 |
|
From R50 000 to R150 000 |
R500 |
R15,00 per R1 000 over R50 000 |
From R150 000 to R350 000 |
R2 000 |
R10,00 per R1 000 over R150 000 |
From R350 000 to R500 000 |
R4 000 |
R8,00 per R1 000 over R350 000 |
From R500 000 to R750 000 |
R5 200 |
R6,00 per R1 000 over R500 000 |
From R750 000 to R1 000 000 |
R6 700 |
R4,00 per R1 000 over R750 000 |
From R1 000 000 to R5 000 000 |
R7 700 |
R1,50 per R1 000 over R1 000 000 |
From R5 000 000 to R10 000 000 |
R13 700 |
R1,40 per R1 000 over R5 000 000 |
From R10 000 000 to R25 000 000 |
R20 700 |
R1,20 per R1 000 over R10 000 000 |
From R25 000 000 to R50 000 000 |
R38 700 |
R0,70 per R1 000 over R25 000 000 |
From R50 000 000 to R100 000 000 |
R56 200 |
R0,40 per R1 000 over R50 000 000 |
Over R100 000 000 |
R76 200 |
R0,20 per R1 000 over R100 000 000 |
| 1.2 | WHERE MORE THAN ONE VALUATION IS REQUIRED |
Where a client requires more than one value for a property (eg market value and insurance value) an additional charge of 30% of the fee for the first valuation is suggested in respect of the second valuation.
| 1.3 | WHERE PRESCRIBED FORMS ARE REQUIRED |
Where a client requires the completion of specific forms in addition to the valuation, the applicable fee may be increased by 25%, subject to a maximum increase of R250,00 per property.
| 1.4 | CONTINUOUS AND SEPARATE VALUATIONS |
Where a client instructs a registered person, in one instruction, to prepare continuous valuations, the registered person may charge a fee based upon the total of the continuous valuation at the relevant tariff fee.
Continuous valuation means the valuation of two or more properties having similar attributes.
| 1.5 | REVALUATIONS |
Where a registered person is instructed to revalue a property which he or she has valued within the preceding period of 12 months, and the property or the interest therein has not changed materially since the first valuation, the fee should be reduced by 50%.
| 1.6 | SECTIONAL TITLE UNITS |
For the valuation of sectional title units, the rate set out in 2.1 for investigation should be charged in addition to the ad valorem tariff fee.
| 1.7 | "BEFORE AND AFTER" VALUATIONS |
When instructed to prepare two valuations, such as "before and after", of a single property, a registered person may charge for each of the valuations separately in terms of 1.1, provided that where the work involved in preparing the second valuation does not amount to performance of a completely separate valuation, the registered person should charge in terms of 1.1 on the higher of the two valuations only.
| 1.8 | VALUATION OF PART OF A PROPERTY |
Where a registered person is required to value a portion of, or an undivided share in, a property and it is necessary to value the whole property in order to determine the value of the part, or the share, the fee may be based on the value of the whole property.