Valuers Suggested Fees
(i) Our fees charge includes an ad valorem fee, as well as charges for time, travelling, accommodation costs and other actual expenditure.
(ii) Valuations will be motivated unless specifically otherwise instructed and the time spent drafting such report will be charged in terms of paragraph 2.0.
(iii) The fees do not include value added tax or any other tax.
(iv) Instructions regarding valuations must be in writing.
1. PROFESSIONAL FEES FOR VALUATIONS
1.1 AD VALOREM TARIFF- Proposed figures
NOTE: The ad valorem fees include time spent inspecting the subject property.
1.2 WHERE MORE THAN ONE VALUATION IS REQUIRED
Where a client requires more than one value for a property (e.g. market value and insurance value) an additional charge of 30% of the fee for the first valuation will be charged on 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 us, in one instruction, to prepare continuous valuations, we will 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
When we are instructed to revalue a property which was valued by us within the preceding period of 12 months, and the property or the interest therein has not changed materially since the first valuation, our fee will be reduced.
1.6 SECTIONAL TITLE UNITS
For the valuation of sectional title units, the rate set out in 2.1 for investigation will 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, we 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, we may charge in terms of 1.1 on the higher of the two valuations only.
1.8 VALUATION OF PART OF A PROPERTY
Where we are required to value a portion of, or an undivided share in, a property, the fee will be based on the value of the whole property.
2. TIME CHARGE
2.1The guideline charges per hour or part thereof, are as follows:
2.1.1 Professional Valuer with more than 10 years’ experience: R1 600. With less than 10 years’ experience: R1 300.
2.1.2 Professional Associated Valuer with more than 10 years’ experience: R 1 300. With less than 10 years’ experience: R 1 100.
2.1.3 Candidate Valuer with a recognised academic qualification: R 650. Without a recognised academic qualification more than 3 years practical experience: R 550, 1-3 years practical experience: R 450.
2.2 ALTERNATIVE TO AD VALOREM TARIFF
We may charge for a valuation at the fee as set out in 2.1, provided that the resultant fee should not be less than the fee calculated in terms of 1.1.
2.3 ADDITIONAL TO AD VALOREM TARIFF
For market research, Deeds Office searches or other investigations, we may charge an additional fee based on the rate set out in 2.1.
3. RENTAL VALUATIONS
NOTES:
1. In addition to the above tariff a fee based on the rate set out in 2.1 may be charged for necessary investigations and research.
2. The fee per rental determination will not be less than R1 600.
3. Any additional work done at the time of valuation on instruction of the client to establish future rentals should be charged at the rate set out in 2.1.
4. FEES FOR ATTENDING COURT, ARBITRATION OR OTHER PROCEEDINGS, ENQUIRIES OR MEETINGS TO GIVE EVIDENCE OR FOR CONSULTATIONS AND WHEN APPOINTED OF ANY SUCH COURT OR PROCEEDINGS
4.1 A fee of one and a half times the scale set out in 2.1 may be charged for preparing for and attending any court, arbitration or other proceedings, enquiries or meetings or to give evidence and for consultation and attending on attorneys and counsel, time taken in research, making enquiries and preparing evidence.
4.2 In the event of such attendance at courts, arbitrations or other proceedings, enquiries or meetings being postponed, cancelled, settled by mutual consent or by legal process at any time during any day, fees for a minimum of eight hours should be charged for that day, even if no hearing is attended.
5. FEES FOR ACTING AS AN ARBITRATOR, MEDIATOR, MEMBER OF A TRIBUNAL OR ASSESSOR IN COURT PROCEEDINGS
5.1 We may charge a minimum fee of R12 000 per day, or part thereof, when acting as an arbitrator, mediator, member of a revision court/board, valuation court/board for rating purposes or as an assessor in any court/board proceedings.
5.2 In addition to the remuneration set out above, the following services may be charged based on one and a half times the hourly rate in terms of 2.1:
5.2.1 Attendance at preliminary hearings
5.2.2 Inspections in loco
5.2.3 Perusal of documentation and attendance thereon
5.2.4 Preparation for hearings, and
5.2.5 Preparing and presenting the awards.
5.3 In the event of we accepting any of the aforegoing appointments at a venue other than in his or her usual residential or business area, he or she may charge the necessary travelling and accommodation expenses in terms of 6.0.
5.4 In the event of any arbitration hearing, mediation, revision court/board, valuation court/board, or other relevant hearing being postponed, cancelled, settled by mutual consent or legal process at any time during any day, the following minimum fees may be charged:
5.4.1 Within 7 working days of the day set down for the hearing - 4 hours
5.4.2 Within 3-6 working days of the day set down for the hearing - 8 hours; and
5.4.3 Within 1-2 working days of the day set down for the hearing – R8 000
5.5 When fees dealing with valuation courts/boards or committees are laid down by statute, then we may accept such fees.
5.6 Any costs incurred by us for the hiring of venues for hearings, secretarial and recording services and other related costs may be charged in addition to the aforegoing.
6. ALLOWANCES
6.1 In addition to the remuneration set out above, the following transport allowance may be claimed in all cases in which the valuation (including court, arbitration or other proceedings, enquiries or meetings to give evidence, or for consultations and inspections in loco) has to be performed at a place other than the place of business of company or valuer:
6.1.1 When own transport is used – R6.43 per kilometre.
6.1.2 When public transport is used – the actual cost.
6.1.3 When conveyance is hired – the actual cost.
6.2 Where, in the course of one journey, valuations are performed on the instruction of two or more persons, the transport allowance claimed in respect of that journey should be recovered pro rata from the persons concerned.
6.3 No transport allowance should be claimed when the person requiring the valuation provides suitable and safe transport; provided that where transport which is uninsured in respect of third-party risk is offered, we need not accept such conveyance but shall be free to proceed as if no transport facilities have been offered.
6.4 In addition to the remuneration and transport allowance set out above, the following may be claimed:
6.4.1 For the time spent travelling to and from the place of valuation and necessary detention while not engaged in the valuation, the time charge as set out in 2.1
6.4.2 Accommodation expenses, meals, refreshments and E-toll gate fees at cost.
7. DISBURSEMENTS AND COSTS
Disbursements and costs incurred by us may be charged as follows:
7.1 Purchase and preparation of plans and drawings – at cost
7.2 Obtaining expert advice and assistance – at cost
7.3 Typing and secretarial fees – at 15% of the applicable time charge set out in 2.0
7.4 Postage, telephone calls, photocopies, photographs and other incidentals – at cost
7.5 All other necessary expenses not specifically listed – at cost.
8. INTEREST ON OVERDUE ACCOUNTS
We are entitled to charge interest on overdue accounts at a rate of 3% above prime bank lending rate, subject to the maximum laid down by law.
9. CONSULTATION
We may charge fees at an hourly rate for consultation (excluding consultation as envisaged in 4.0) when consulted in a professional capacity either in person, by telephone or in writing, when such consultation does not lead to instructions to effect a valuation.
10. INTERIM ACCOUNTS
We may submit interim accounts for progress payments during the course of an assignment. Client or person appointed us will fully pay our invoice on date of completion or when invoice/s was submitted, prior valuation document delivery date or collection, and attorney to client expenses.
11. DEPOSITS
We may require a client or the representative of the client, to pay an agreed sum as deposit against payment of fees prior to commencement of an assignment.
12. ADDITIONAL WORK
The same valuers suggested fees will be applicable for additional work and/or expenses after his work is completed.
13. MOVABLE PROPERTY
The market value for the movable property will be prepared according to the knowledge of the writer hereof as an auctioneer and to be sold on auction. The auctioneer must receive an inventory of movable properties. On date of the site inspection all movable property must be pointed out by the client or his representative (items will not be estimated if not seen). Our fees charge includes time spent at R750/hour, travelling at R6.43/km, accommodation at costs and other actual expenditure as in clause 6 above. All immovable property valuations will be done by ACI Project Management Services, and movable property will be completed and estimated by Daniel Crous Auctioneers CC (CC 2010/004300/23) as auctioneer.
14. RESERVATION
We do not accept any liability or responsibility whatsoever for non-disclosure, any inaccuracy or omissions in information that has been used for any conclusions, and reserve the right to alter our opinion or value in our report.
15. CANCELLATION
15.1 Should the client choose to cancel his/our appointment at any stage, then the valuer, appraiser or auctioneer will be entitled to claim their partly or fully completed payment for fees above, plus collection fees and expenses between client and attorney and the clients deposit will be forfeited.
15.2 Should the valuer, appraiser or auctioneer cancels, halt or refuse to continue with their services for any reason whatsoever, the client will have no right to claim any damages from them whatsoever and valuer, appraiser and auctioneer are entitled to deduct their fees from the clients deposit.
16. SITE INSPECTIONS
Client confirms that subject property or site to visit will be entirely safe for site inspections.
17. NON-VARIATION OF THIS VALUERS SUGGESTED FEES
17.1 This will be the fees and agreement between the parties and no representation, promise, verbal communication, warranty and or agreement not contained here will be of any force and effect between the parties.
17.2 The client / person, who appointed us for work has fully read, understand and acknowledge these entire valuers suggested fees document and agree to be bounded by them.
17.3 Should any provision or sentence of this agreement becomes or is found to be unlawful, invalid or unenforceable, the rest of this valuers suggested fees will not be affected and shall be severable from the provision in question and the remaining provisions of this agreement shall remain in full force and effect.
17.4 Interpretation:
a) Any reference to one gender includes the other gender or any juristic entity;
b) Any reference to the singular includes the plural and vice versa;
c) Any reference to a natural person includes an artificial or juristic person;
d) The captions and headings in the agreement are for reference purposes only and shall not affect the interpretation thereof.
Please call us at 082 255 0253; send us an email at valuers@mweb.co.za; or visit our website at www.propertyvaluersandappraisers.co.za.