VIVA Questions

Question 1

What are some signs of site contamination?

Answer 1

Smells, the current use, discoloured soil, stains on concrete, chemical containers, underground tanks

Question 2

What is the valuation procedure?

Answer 2

Obtain letter of instructions (purpose, client, parties involved, fee, address)
Request information (any further information, leases details, plans, permits etc)
Undertake preliminary searches (title search, planning - HBU, PSP if inglobo, contamination, heritage, comparable sales)
Inspect (external and internal, take photos, measure, ask questions, look for contamination or other defects)
Analyse/inspect comparable sales
Valuation approaches - choose appropriate and apply it