Desktop Limitations

Desktop Limitations

When a valfirm sends an inbound message to a Desktop job within ValEx, the following will trigger an error "Sorry your system does not currently have permission to update this job":
1) Sending any status as "Inspected"

<Status Name="Inspected">

2) Sending an Inbound Response 

Connect With Us

Connect with Us - notifications to valfirms

 

For the Connect with Us notifications, valfirms are expected to implement a RESTful endpoints to receive those messages:
e.g. http://valfirm.com/rest/communications

ValEx will send through those messages as HTTP POST request (with HTTP Basic Auth being expected to be utilised), with the additional parameters being passed in the request body as a JSON encoded string:

 

Example:

POST http://valfirm.com/rest/communication_added HTTP/1.1
Accept-Encoding: gzip,deflate
Content-Type: application/json
Content-Length: 78
Host: adl-sprint.valexdev.rpdata.local
Connection: Keep-Alive
User-Agent: Apache-HttpClient/4.1.1 (java 1.5)

{"job_id":5866889,"communication_id":422,"action":"Communication Notes Added"}

Once the message has been received, the valfirm is expected to pull the details on the communication from the Connect with Us webservices endpoint based on the the job and communication ID that has been provided.
ValEx will be sending the following messages to the valfirms:

Communication Requiring Response:
This is triggered when a new Message Us communication has been added and the communication has been pushed to the valfirm for actioning.

Parameters:

job_id:  The ID of the ValEx job the communication is attached to.
communication_id: The ID of the communication to be actioned.
action: “New Communication Added” (Note that the value of the parameter  is expected as a string literal – i.e. signifies the type of the notification being sent)


Communication Notes Added:
This is triggered when new notes has been added to an existing communication for which the valfirm is actioning.

 

Parameters:
job_id:  The ID of the ValEx job the communication is attached to.
communication_id: The ID of the communication for which the notes has been added.
action: “Communication Note Added” (Note that the value of the parameter  is expected as a string literal – i.e. signifies the type of the notification being sent)

 

Communication Resolved:

This is triggered once the communication has been flagged as resolved in ValEx.
This is triggered when new notes has been added to an existing communication for which the valfirm is actioning.

 

Parameters:

job_id:  The ID of the ValEx job the communication is attached to.
communication_id: The ID of the communication  which has been resolved.
action: “Communication Closed” (Note that the value of the parameter  is expected as a string literal – i.e. signifies the type of the notification being sent)

CVO - Sales Evidence

CVO Sales Evidence

Xpath: ValuationTransaction/Message/ValuationType/FullRegistered/SalesEvidence/

Please note that the SalesEvidence attribute PercentYield and ValuePerM2 values will only be considered for the subject address, if address passed is an exact match of the Job's address.

SalesEvidence node
<SalesEvidence ValuePerM2="1479" PercentYield="90">
    <Location>
        <Address>
            <BuildingName/>
            <FloorNo/>
            <UnitNo/>
            <StreetNo>120</StreetNo>
            <Street Type="Street">ttttt </Street>
            <City>yyyy</City>
            <State Name="VIC"/>
            <Postcode>3000</Postcode>
            <Country>AU</Country>
        </Address>
    </Location>
    <Date>2013-12-10</Date>
    <Comment>Comparable overall due to ###</Comment>
    <Comment>The Property 1</Comment>
</SalesEvidence>

CVO - Risk Ratings

Risk Ratings

Cashflow Certainty

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Cashflow Certainty - Are there significant concerns with the ability of the property to sustain the market net income over the next three years?

CashflowCertaintyConcerns

No

Y

Y

N

N

N

N

WALE is less than three years and property is likely to prove difficult to re-let

WALELessThan3Years

No

Y

Y

N

N

N

N

Tenant is not in occupation or space is poorly fitted out and underutilised

TenantNotInOccupation

No

Y

Y

N

N

N

N

There is significant doubt about the lease renewal intentions of the major tenant

LeaseRenewalDoubt

No

Y

Y

N

N

N

N

The property has a history of significant vacancies (say greater than 20%)

VacancyHistory

No

Y

Y

N

N

N

N

Tenant is known to be in financial difficulties

TenantFinancialDifficulties

No

Y

Y

N

N

N

N

The property is leased at a rental which is well above market parameters?

LeaseAboveMarket

No

Y

Y

N

N

N

N

Other (please specify) CashflowCertaintyConcernsOther Yes Y Y N N Y N

Lettability if Vacant

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Lettability if Vacant - If vacant or owner occupied, does the Valuer reasonably believe the property may not be lettable within a six month period at the adopted market rent?

PoorLettability

No

Y

Y

N

N

N

N

Poor leasing demand for this accommodation type

PoorLeasingDemand

No

Y

Y

N

N

N

N

Significant oversupply of comparable space in this locality

LettabilitySignificantOversupply

No

Y

Y

N

N

N

N

Oversupply of competing properties available for lease, impacting the leasing prospects of the subject property.

OversupplyofCompetingProperties

No

Y

Y

N

N

N

N

Accommodation requires capital expenditure

LettabilityCapitalExpenditureRequired

No

Y

Y

N

N

N

N

Accommodation is of poor quality and obsolescent

ObsolescentAccomodation

No

Y

Y

N

N

N

N

Size of tenancy is well above normal market requirements in this locality

tenancyAboveMarketRequirements

No

Y

Y

N

N

N

N

Shape of tenancy is poor

TenancyShapePoor

No

Y

Y

N

N

N

N

Poor exposure

PoorExposure

No

Y

Y

N

N

N

N

Other (please specify) PoorLettabilityOther Yes Y Y N N Y N

Saleability

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Saleability - Are there any attributes of the property which would significantly impact on its ability to be saleable at the assessed value level within a six month marketing period?

SaleabilityImpacts

No

Y

Y

N

N

Y

N

Major flooding concerns

FloodingConcerns

No

Y

Y

N

N

Y

N

Major capital expenditure requirements

CapitalExpenditureRequired

No

Y

Y

N

N

Y

N

Unquantifiable environmental concerns

environmentalConcerns

No

Y

Y

N

N

Y

N

Obsolescent improvements

ObsolescentImprovements

No

Y

Y

N

N

Y

N

Poor depth of market due to specialised nature of the asset

PoorDepth

No

Y

Y

N

N

Y

N

Lack of buyer demand in this locality

LackOfBuyerDemand

No

Y

Y

N

N

Y

N

Value at upper end or higher than market parameters

ValueUpperEndOfMarket

No

Y

Y

N

N

Y

N

Restrictive Use Capability

Restrictive

No

Y

Y

N

N

Y

N

Oversupply of comparable properties available for sale

OversupplyofComparableProperties

No

Y

Y

N

N

Y

N

Significant restrictive encumbrances

RestrictiveEncumbrances

No

Y

Y

N

N

Y

N

Remote location restricts marketability

RemoteLocation

No

Y

Y

N

N

Y

N

Other (please specify)

SaleabilityImpactsOther

Yes

Y

Y

N

N

Y

N

Suitability for Mortgage Security

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Suitability for Mortgage Security - Is there a reason that this property may not be suitable for mortgage security purposes?

MortgageUnsuitable

No

Y

Y

Y

Y

Y

N

No legal access

NoLegalAccess

No

Y

Y

Y

Y

Y

N

Known contamination or unacceptable contamination risk

UnacceptableContamination

No

Y

Y

Y

Y

Y

N

Unacceptable asbestos risk

AsbestosRisk

No

Y

Y

Y

Y

Y

N

Negative cashflows are likely

NegativeCashflow

No

Y

Y

Y

Y

Y

N

Poor quality tenure

PoorQualityTenure

No

Y

Y

Y

Y

Y

N

Other (please specify)

MortgageUnsuitableOther

Yes

Y

Y

Y

Y

Y

N

Approvals

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Approvals - Are there any concerns with the ability of the property to obtain and/or maintain required planning approvals over the next two years?

ApprovalConcerns

No

N

N

Y

Y

N

N

Project not yet approved

ProjectNotApproved

No

N

N

Y

Y

N

N

Change to existing approvals is required

ApprovalChangeRequired

No

N

N

Y

Y

N

N

Expiry date of planning permit or development approvals  is less than 12 months

ApprovalExpiryLess12Months

No

N

N

Y

Y

N

N

Other (please specify)

ApprovalConcernsOther

Yes Y Y N N Y N

Saleability - Site

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Saleability – Site - Are there any attributes of the Development Site which would significantly impact on its ability to be saleable at the assessed value level within a six month marketing period?

SiteSaleabilityImpacts

No

N

N

Y

Y

N

N

Major flooding concerns

SiteFloodingConcerns

No

N

N

Y

Y

N

N

Major capital expenditure requirements

SiteCapitalExpenditureRequired

No

N

N

Y

Y

N

N

Unquantifiable environmental concerns

SiteEnvironmentalConcerns

No

N

N

Y

Y

N

N

Obsolescent improvements

SiteObsolescentImprovements

No

N

N

Y

Y

N

N

Poor depth of market due to specialised nature of the asset

SitePoorDepth

No

N

N

Y

Y

N

N

Lack of buyer demand in this locality

SiteLackOfBuyerDemand

No

N

N

Y

Y

N

N

Value level well above median

SiteValueUpperEndOfMarket

No

N

N

Y

Y

N

N

Restrictive Use Capability

SiteRestrictive

No

N

N

Y

Y

N

N

Oversupply of comparable properties available for sale

SiteOversupplyofComparableProperties

No

N

N

Y

Y

N

N

Significant restrictive encumbrances

SiteRestrictiveEncumbrances

No

N

N

Y

Y

N

N

Remote location restricts marketability

SiteRemoteLocation

No

N

N

Y

Y

N

N

Other (please specify)

SiteSaleabilityImpactsOther

Yes

N

N

Y

Y

N

N

Market Volatility

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Market Volatility - Is the market for this asset likely to have an abnormally high degree of volatility?

HighMarketVolatility

No

Y

Y

Y

Y

Y

N

Thinly traded price point

ThinlyTradedPricePoint

No

Y

Y

Y

Y

Y

N

Abnormal factors impacting on current trading levels

FactorsImpactingTradingLevels

No

Y

Y

Y

Y

Y

N

New competition likely to impact

NewCompetition

No

Y

Y

Y

Y

Y

N

Concerns about the physical condition of the improvements

ImprovementPhysicalCondition

No

Y

Y

Y

Y

Y

N

Uncertain legislative and government policy environment

UncertainLegislativeEnvironment

No

Y

Y

Y

Y

Y

N

Nature of local economy - Weak or declining local conditions

NatureOfLocalEconomy

No

Y

Y

Y

Y

Y

N

Approaching or at peak of the market

ApproachingPeakOfMarket

No

Y

Y

Y

Y

Y

N

Overheated market sectors

OverheatedMarketSectors

No

Y

Y

Y

Y

Y

N

Other – please specify

HighMarketVolatilityOther

No

Y

Y

Y

Y

Y

N

Saleability - End Product

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Saleability – End Product - Are there any attributes of the units or allotments to be developed which may impact on their ability to be sold down within the lesser of 12 months from product completion or 6 months prior to the expiration of the sunset clause in that location?

EndProductSaleabilityConcerns

No

N

N

Y

Y

N

N

Poor design features or aspect

PoorDesign

No

N

N

Y

Y

N

N

Units are at a price point at which there is very thin depth of market

ThinDepthOfMarket

No

N

N

Y

Y

N

N

Significant oversupply of units under development in that locality

SaleabilitySignificantOversupply

No

N

N

Y

Y

N

N

Poor construction type/standard or finishes

PoorFinishes

No

N

N

Y

Y

N

N

High number of unsold units within the project

HighUnsoldUnits

No

N

N

Y

Y

N

N

Other (please specify)

EndProductSaleabilityConcernsOther

Yes

N

N

Y

Y

N

N

Cashflow

Description

Rating Type

"Other" Rating

Standard

Strata

Res Dev

Vacant Land

Going Concern

Specialised

Cashflow - Are there significant concerns with the ability of the property to sustain the adopted net profit over the next three years?

CashflowConcerns

No

N

N

N

N

Y

N

The quality of the available trading data is inadequate to form this view

TradingDataInadequate

No

N

N

N

N

Y

N

There are concerns with current management (e.g. poor management or lack of owner involvement)

ManagementConcerns

No

N

N

N

N

Y

N

New competition likely to impact

NewCompletionImpact

No

N

N

N

N

Y

N

The property may require significant capital expenditure to sustain trade

CapitalExpendituretoSustainTrade

No

N

N

N

N

Y

N

Changes in legislation likely to impact on revenue

LegislationImpactRevenue

No

N

N

N

N

Y

N

There are unsustainable market conditions at the present time

UnsustainableMarketConditions

No

N

N

N

N

Y

N

Other (please specify) CashflowConcernsOther

Yes

Y

Y

N

N

Y

N

CVO - New XPaths

Value Item Fields

Field

Description

XPATH

Type

Mandatory

Type

Type of Value being provided

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@Type

Enum
(see New XPaths for list) 

For Strata with multiple units only

Units

Units being used for the value provided

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@Units

Enum
(see New XPaths for list) 

Yes

Basis for Assessment

Basis for Assessment used to determine the value

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@BasisForAssessment

Enum
(see New XPaths for list)

Where type is “MarketValue” or “BasisForAssessmentValue”

Lot

Where a value is being provided for a specific lot or unit,this field can be used to identify the unit number

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@Lot

String

Where BasisForAssessment is “Lot”

Description

Valuer’s description of the value being provided

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@Description

String

No

Point Value

Single Point value.

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem

Decimal

No*

Value Floor

Lower limit for the value item

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@ValueFloor

Decimal

No*

Value Ceiling

Upper Limit for the value item

/ValuationTransaction/vx:Job/vx:Commercial vx:ValueComponents/vx:ValueItem/@ValueCeiling

Decimal

No*

* Either a point value or Value Range must be provided.

Lease Fields

Field

Description

XPATH

Type

Mandatory (when providing lease)

Number

Lease number

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@Number

String

Yes

Tenant

Name of Tenant on lease

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@Tenant

String

Yes

Rental Adjustments

Rental Adjustments for lease

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@RentalAdjustments

Decimal

Yes

Lease Status

Current status of the lease

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@LeaseStatus

String

Yes

%  of Income

Percent of income lease represents

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@PercentOfIncome

Decimal

Yes

Remaining Lease Term

Remaining lease Term

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@ RemainingLeaseTerm

String

Yes

Comments

Any comments the valuer would like to add about the lease

/ValuationTransaction/vx:Job/vx:Commercial/vx:Lease/@Comments

String

No

New XPaths

Field
XPath
Type

% of Income

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@PercentOfIncome

Decimal

Adopted Capitalisation Rate - %

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="AdoptedCapitalisationRate"][Units="Percent"]

Decimal

Ancillary Income - Market $

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="AncillaryIncome"][Units="Value"]

Decimal

Approved GFA

/ValuationTransaction/vx:Job/vx:Commercial/@ApprovedGFA

Boolean

Assessment Type

/ValuationTransaction/vx:Job/vx:Commercial/@AssesmentType

Enumeration

Balance Land – $

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="BalanceLand"][Units="Value"]

Decimal

Basis for Assessment Value

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="BasisForAssessmentValue"][Units="Value"]

Decimal

Builder / Contractor

/ValuationTransaction/RelatedPartySegment/RelatedParty[@RelPartyType="Builder"]/PersonName

String

Car Spaces

/ValuationTransaction/Message/ValuationType/FullRegistered/CarAccomodation/@NumberOfVehicles

Integer

Comments

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@Comments

String

CompileCVO

/ValuationTransaction/vx:Job/vx:Commercial/@CompileCVO

Boolean

COS Amount

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesMarket/RecentSale[IsContract="Yes"]/@SalePrice

Decimal

COS Date

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesMarket/RecentSale[IsContract="Yes"]/Date

Date

CVO Use

/ValuationTransaction/Identifier[Description="CVOUse"]/@UniqueID

Enumeration
(Mandatory, Optional, Prohibited)

CVO Cut Off /ValuationTransaction/Identifier[Description="CVOCutOff"]/@UniqueID Decimal

Description Of Property

/ValuationTransaction/Message/ValuationType/FullRegistered/SiteDetailResponse/SiteDescription

String

General Comment

/ValuationTransaction/Message/ValuationType/FullRegistered/DetailedComment/Comment 

String

Gross Adjusted Income – Market $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossAdjustedIncome"][Units="MarketPerAnnum"]

Decimal

Gross Adjusted Income - Passing $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossAdjustedIncome"][Units="PassingPerAnnum"]

Decimal

Gross Adjusted Income – Passing $/m2

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossAdjustedIncome"][Units="PassingPerM2"]

Decimal

Gross Income – Market $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossIncome"][Units="MarketPerAnnum"]

Decimal

Gross Income – Market $/m2

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossIncome"][Units="Other"]

Decimal

Gross Income - Passing - $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossIncome"][Units="PassingPerAnnum"]

Decimal

Gross Income – Passing $/m²

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossIncome"][Units="PassingPerM2"]

Decimal

Gross Realisation $/m2

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="GrossRealisation"][Units="RatePerM2"]

Decimal

Immediate Capital Expenditure

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="ImmediateCapitalExpenditure"][Units="Value"]

Decimal

Improvements Value

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="ImprovementValue"][Units="Value"]

Decimal

Improvements?

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/@Improvements

Boolean

In One Line Assessment

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="InOneLineAssessment"][Units="Other"]

Decimal

Initial Yield - %

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="InitialFullyLeasedYield"][Units="Percent"]

Decimal

Interest Valued

/ValuationTransaction/vx:Job/vx:Commercial/@InterestValued

Enumeration

Land Value

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="LandValue"][Units="Value"]

Decimal

Land/Site/Strata Area

/ValuationTransaction/Message/ValuationType/FullRegistered/SiteDetailResponse/SiteArea/@Size

Decimal

Last Sale Amount

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesMarket/EarlierSale/@SalePrice

Decimal

Last Sale Date

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesMarket/EarlierSale/Date

Date

Lease Number

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@Number

String

Lease Status

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@LeaseStatus

String

Leasing Up Costs

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="LeasingUpCosts"][Units="Value"]

Decimal

Let Up Allowance

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="LetUpAllowance"][Units="Value"]

Decimal

Market Value

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="MarketValue"][Units="Value"]

Decimal

Market Yield - %

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="MarketYield"][Units="Percent"]

Decimal

Net Income – $

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="NetIncome"][Units="Value"]

Decimal

Net Income - Market $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="NetIncome"][Units="MarketPerAnnum"]

Decimal

Net Income - Passing - $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="NetIncome"][Units="PassingPerAnnum"]

Decimal

New Tenant Incentives

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="NewTenantIncentives"][Units="Value"]

Decimal

Number of Units

/ValuationTransaction/Message/ValuationType/FullRegistered/UnitDetails/@TotalUnitsInDevelopment

Integer

Other Risk

/ValuationTransaction/Message/ValuationType/FullRegistered/RiskAnalysis/RiskRating/Comment

String

Outgoings – Market $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="OutGoings"][Units="MarketPerAnnum"]

Decimal

Outgoings – Market $/m2

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="OutGoings"][Units="MarketPerM2"]

Decimal

Outgoings - Passing - $/annum

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="OutGoings"][Units="PassingPerAnnum"]

Decimal

Outgoings – Passing $/m²

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="OutGoings"][Units="PassingPerM2"]

Decimal

Outstanding Tenant Incentives

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="OutstandingTenantIncentives"][Units="Value"]

Decimal

Owner Occupied Flag

/ValuationTransaction/vx:Job/vx:Report/vx:Value/@Occupancy

Enumeration

If one of the following is specified, the property is considered owner occupied.
("Owner Occupied", "Leased: Single Tenancy", "Leased: Multiple Tenancy", "Vacant")

Supplying anything else, or nothing will mark the job as not being owner occupied.

Permanent Vacancy Allowance – $

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="PermanentVacancyAllowance"][Units="Value"]

Decimal

Permanent Vacancy Allowance – %

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="PermanentVacancyAllowance"][Units="Percent"]

Decimal

Profit - % on cost

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="ProfitPercentOnCost"][Units="Percent"]

Decimal

Property Address

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesEvidence/Location/Address

LIXI:Address

Property Type

/ValuationTransaction/vx:Job/vx:Property/@Type

Enumeration

Purpose of Report

/ValuationTransaction/vx:Job/vx:Commercial/@PurposeOfReport

String

Rate per m2

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="RatePerM2"][Units="RatePerM2"]

Decimal

Rate per m2 Comparison

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="Comparison"][Units="RatePerM2"]

Decimal

Rate Per Unit

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="RatePerUnit"][Units="Value"]

Decimal

Remaining Lease Term

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@RemainingLeaseTerm

Decimal

Rental Adjustments

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@RentalAdjustments

Decimal

Reversionary / Profit Rent

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="Reversionary-ProfitRent"][Units="Value"]

Decimal

Risk Ratings

/ValuationTransaction/Message/ValuationType/FullRegistered/RiskAnalysis/RiskRating

Enumeration

Rounded Adopted Value – $

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="RoundedAdoptedValue"][Units="Value"]

Decimal

Sales Evidence - $/m2

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesEvidence/@ValuePerM2

Decimal

Sales Evidence - Yield %

/ValuationTransaction/Message/ValuationType/FullRegistered/SalesEvidence/@PercentYield

Decimal

Tenant

/ValuationTransaction/vx:Job/vx:Commercial/Lease/@Tenant

String

Tender Date

/ValuationTransaction/Message/ValuationType/FullRegistered/BuildingModification/ContractDate/Date

Date

Tender Price

/ValuationTransaction/Message/ValuationType/FullRegistered/BuildingModification/@TenderPrice

Decimal

Total Building Area

/ValuationTransaction/Message/ValuationType/FullRegistered/ImprovementAreas[AreaType=Other]/SiteArea/@Size

Decimal

Total Development Costs

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="TotalDevelopmentCosts"][Units="Value"]

Decimal

Total of Assessment Values

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="TotalAssessmentValue"][Units="Value"]

Decimal

Unit of Assessment

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="UnitOfAssessment"][Units="RatePerM2"]

Decimal

Value As Is

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="ValueAsIs"][Units="Value"]

Decimal

Value Before Capital Adjustments –  $

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="ValueBeforeCapitalAdjustments"][Units="Value"]

Decimal

Valuer File Ref

/ValuationTransaction/Identifier[Description="Valuer's File Reference"]/@UniqueID

String

WALE (by income) – years

/ValuationTransaction/vx:Job/vx:Commercial/ValueComponents/ValueItem[Type="WALE"][Units="Other"]

Decimal

CVO - Field Usage

Field Usage

Field name

Standard

Standard (owner occupied)

Strata

Residential Development

Vacant Land

Going Concern

Specialised

% of Income

O**

O

O

O

O

O

O

Adopted Capitalisation Rate - %

M

O

O

N

N

O

N

Ancillary Income - Market $

M*

O

N

N

N

N

N

Approved GFA

N

N

N

O

N

N

N

Assessment Type

M

M

M

M

M

M

M

Balance Land – $

M*

O

N

N

N

N

N

Basis for Assessment Value

O

O

O

O

O

O

O

Builder / Contractor

O

O

O

O

O

O

O

Car Spaces

O

O

O

N

N

N

N

Comments

O**

O

O

O

O

O

O

Compile CVO

O

O

O

O

O

O

O

COS Amount

O

O

O

O

O

O

O

COS Date

O

O

O

O

O

O

O

CVO Use

M

M

M

M

M

M

M

Description Of Property

M

M

O

O

O

O

O

General Comment

N

N

N

N

N

N

M

Gross Adjusted Income – Market $/annum

M

O

N

N

N

N

N

Gross Adjusted Income - Passing $/annum

M

N

N

N

N

N

N

Gross Adjusted Income – Passing $/m2

M

O

N

N

N

N

N

Gross Income – Market $/annum

M*

O

N

N

N

N

N

Gross Income – Market $/m2

M*

O

N

N

N

O

N

Gross Income - Passing - $/annum

M*

N

N

N

N

N

N

Gross Income – Passing $/m²

M*

N

N

N

N

N

N

Gross Realisation $/m2

N

N

N

O

N

N

N

Immediate Capital Expenditure

M*

O

N

N

N

N

N

Improvements Value

O

N

N

N

M***

N

N

Improvements?

N

N

N

N

M

N

N

In One Line Assessment

N

N

O

N

N

N

N

Initial Yield - %

M*

O

N

N

N

N

N

Interest Valued

M

M

M

M

M

M

M

Land Value

O

N

N

N

M***

N

N

Land/Site/Strata Area

M

M

M

M

M

M

N

Last Sale Amount

O

O

O

O

O

O

O

Last Sale Date

O

O

O

O

O

O

O

Lease Number

O**

O

O

O

O

O

O

Lease Status

O**

O

O

O

O

O

O

Leasing Up Costs

M*

O

N

N

N

N

N

Let Up Allowance

M*

O

N

N

N

N

N

Market Value

M

M

M

M

M

M

M

Market Yield - %

M

O

N

N

N

N

N

Net Income – $

N

O

N

N

N

N

N

Net Income - Market $/annum

M

N

N

N

N

N

N

Net Income - Passing - $/annum

M

N

N

N

N

N

N

New Tenant Incentives

M*

O

N

N

N

N

N

Number of Units

N

N

N

O

N

N

N

Other Risk

O

O

O

O

O

O

N

Outgoings – Market $/annum

M*

O

N

N

N

N

N

Outgoings – Market $/m2

M*

O

N

N

N

N

N

Outgoings - Passing - $/annum

M*

N

N

N

N

N

N

Outgoings – Passing $/m²

M*

N

N

N

N

N

N

Outstanding Tenant Incentives

M*

N

N

N

N

N

N

Owner Occupied Flag

O

O

N

N

N

N

N

Permanent Vacancy Allowance – $

M

O

N

N

N

N

N

Permanent Vacancy Allowance – %

M

O

N

N

N

N

N

Profit - % on cost

N

N

N

O

N

N

N

Property Address

M

M

M

O

O

N

N

Property Type

M

M

M

M

M

M

M

Purpose of Report

O+

O+

O+

O+

O+

O+

O+

Rate per m2

N

N

N

N

M

N

N

Rate per m2 Comparison

N

N

O

N

N

N

N

Rate Per Unit

N

N

N

N

O

N

N

Remaining Lease Term

O**

O

O

O

O

O

O

Rental Adjustments

O**

O

O

O

O

O

O

Reversionary / Profit Rent

M*

O

N

N

N

N

N

Risk Ratings

M

M

M

M

M

M

N

Rounded Adopted Value – $

M

O

N

N

N

N

N

Sales Evidence - $/m2

M

M

M

O

O

N

N

Sales Evidence - Yield %

M

M

N

N

N

N

N

Tenant

O**

O

O

O

O

O

O

Tender Date

O

O

O

O

O

O

O

Tender Price

O

O

O

O

O

O

O

Total Building Area

M

M

N

N

N

N

N

Total Development Costs

N

N

N

O

N

N

N

Total of Assessment Values

N

N

O

N

N

N

N

Unit of Assessment

N

N

N

N

N

O

N

Value As Is

N

N

N

O

N

N

N

Value Before Capital Adjustments –  $

M

O

N

N

N

N

N

Valuer File Ref

O

O

O

O

O

O

O

WALE (by income) – years

M

N

N

N

N

N

N

M = Mandatory, O = Optional, N = Not Applicable
*   If the value is not applicable, the ValueItem element is still need to be provided to acknowledge that the value has considered but excluded.
** Only were a lease is applicable 
*** Where there are Minor improvements
+ If not provided, ValEx will automatically populate the field to “First mortgage security purposes only” or “Mortgagee in Possession” as applicable.

CVO - Enumerations

Enumerations

Assessment Types

Value

Description

Standard

Standard

Strata

Strata

ResidentialDevelopment

Residential Development

VacantLand

Vacant Land

GoingConcern

Going Concern

Specialised

Specialised

Basis For Assessment

Field

Description

Applicable to Type

Lot

Lot

MarketValue

Asis

Value As is

MarketValue

SubjectToExistingLease

Subject To Existing Lease(s)

MarketValue

AlternativeUse

Alternative Use

MarketValue

AsIfComplete

As If Complete

MarketValue

InOneLineAssessment

In One Line Assessment

MarketValue

TotalOfAssessmentValues

Total of Assessment Values

MarketValue

VacantPossession

Vacant Possession

MarketValue

MarketValueSubjectToExistingLeaseAsIs

Market Value Subject to Existing Lease(s) – As Is

BasisForAssessmentValue

MarketValueSubjectToExistingLeaseAsIfComplete

Market Value Subject to Existing Lease(s) – As If Complete

BasisForAssessmentValue

MarketValuewithVacantPossessionAsIs

Market Value with Vacant Possession – As Is

BasisForAssessmentValue

MarketValuewithVacantPossessionAsIfComplete

Market Value with Vacant Possession – As If Complete

BasisForAssessmentValue

GrossRealisationExcludingGSTAsIs

Gross Realisation – Excluding GST As Is

BasisForAssessmentValue

GrossRealisationExcludingGSTAsIfComplete

Gross Realisation – Excluding GST As If Complete

BasisForAssessmentValue

GrossRealisationIncludingGSTAsIs

Gross Realisation – Including GST As Is

BasisForAssessmentValue

GrossRealisationIncludingGSTAsIfComplete

Gross Realisation – Including GST As If Complete

BasisForAssessmentValue

InOneLineAssessmentAsIs

In One Line Assessment – As Is

BasisForAssessmentValue

InOneLineAssessmentAsIfComplete

In One Line Assessment – As If Complete

BasisForAssessmentValue

AlternativeUseAsIs

Alternative Use – As Is

BasisForAssessmentValue

AlternativeUseAsIfComplete

Alternative Use – As If Complete

BasisForAssessmentValue

GoingConcernWalkInWalkOutAsIs

Going Concern – Walk In Walk Out – As Is

BasisForAssessmentValue

GoingConcernWalkInWalkOutAsIfComplete

Going Concern – Walk In Walk Out – As If Complete

BasisForAssessmentValue

GoingConcernLesseeInterestAsIs

Going Concern – Lessee Interest – As Is

BasisForAssessmentValue

GoingConcernLesseeInterestAsIfComplete

Going Concern -  Lessee Interest – As If Complete

BasisForAssessmentValue

GoingConcernLessorInterestAsIs

Going Concern – Lessor Interest – As Is

BasisForAssessmentValue

GoingConcernLessorInterestAsIfComplete

Going Concern -  Lessor Interest – As If Complete

BasisForAssessmentValue

 Interest Valued

Value

Description

SimpleFeeVacantPossession

Simple Fee Vacant Possession

Leasehold

Leasehold

MarketValueInUse

Market Value In Use

SubjectToLease

Subject To Lease

addActionUpdate

The addActionUpdate method is used for applying an Action Update to ValEx.

The method contains 3 parameters, a ValEx ID, an Update Code and a Comment.

The following Update Code mappings are:

  • lack_of_sales
  • miss_deadline
  • insufficient_documents
  • quality_assurance
  • clarity_required_on_policy
  • rejection_post_acceptance

Long Form XML - Report Types

Report Types for Long Forms

/ValuationTransaction/Message/ValuationType/FullRegistered/@ReportType

Value
Description
Dwelling Sets the Report Type to ‘Dwelling’ and leaves
the Strata Unit checkbox unchecked.
Unit Sets the Report Type to ‘Dwelling’ and checks
the Strata Unit checkbox.
TBE-Dwelling Sets the Report Type to ‘TBE-Dwelling’ and
leaves the Strata Unit checkbox unchecked.
TBE-Unit Sets the Report Type to ‘TBE-Unit’ and checks
the Strata Unit checkbox.
VacantLand Sets the Report Type to ‘Land’ and leaves the
‘Land with Minor Improvements’ checkbox.
VacantLand-WM This will set the Report Type to ‘Land’ and
checks the ‘Land with Minor Improvements’
Residential-Development This will set the Report Type to ‘Residential
Development’

API Kerbside - New API Kerbside Fields

New API Kerbside Fields

Below is a list of fields that currently come through for Kerbsides that are now required for FullRegistered when it’s a Kerbside.

Kerbside Identification

The data should be identified as being a Kerbside response by:

Field XPath Value
ValSubType  //FullRegistered/@ValSubType ShortForm
SubTypeNote  //FullRegistered/SubTypeNote Kerbside

Example:

<ValuationType>    <Identifier UniqueID="" Type="VPMAssigned"/>    <FullRegistered ValSubType="ShortForm">       <SubTypeNote>Kerbside</SubTypeNote>

External Inspection Not Appropriate

If an external inspection is not appropriate the comment as to why should be entered in //FullRegistered/Disclaimer. If the kerbside is appropriate the disclaimer element should either be dropped all together or it should be left blank.

Field XPath
Disclaimer  //FullRegistered/Disclaimer

Example where external is not appropriate:

<ValuationType>    <Identifier UniqueID="" Type="VPMAssigned"/>    <FullRegistered ValSubType="ShortForm">       <SubTypeNote>Kerbside</SubTypeNote>       ...       <Disclaimer>The property is obscured by trees. Need to enter the property to inspect.</Disclaimer>

Example where the kerbside can be used:

<ValuationType>    <Identifier UniqueID="" Type="VPMAssigned"/>    <FullRegistered ValSubType="ShortForm">       <SubTypeNote>Kerbside</SubTypeNote>       ...       <Disclaimer></Disclaimer>

Value Range

Kerbsides require a range to be sent through. This can be done by the following:

Field XPath
Lower Value  //FullRegistered/ValueComponent/MarketValueAsIfComplete/@ValueFloor
Upper Value //FullRegistered/ValueComponent/MarketValueAsIfComplete/@ValueCeiling

Example:

<ValuationType>    <Identifier UniqueID="" Type="VPMAssigned"/>    <FullRegistered ValSubType="ShortForm">       <SubTypeNote>Kerbside</SubTypeNote>       ...       <ValueComponent>          <MarketValueAsIfComplete ValueFloor="220000" ValueCeiling="280000"/>