New Technical Information Papers (TIPs) have been approved by National Council and are now available via the API website.
The following TIPs are now available to download:
- Acting As An Expert Witness (includes an associated Resource Pack)
- Property Advisors (includes an associated Resource Pack)
- Retrospective Valuations
- Market Value of Property, Plant and Equipment in a Business
- Addressing the Concept of ‘Forced Sale’
What are TIPs?
New TIPs, as they are developed, will replace an existing Valuation Guidance Note from section 8, or a Real Property Guidance Note from section 11, of the Australian and New Zealand Valuation and Property Standards 2012.
The existing Standards document will remain online for now. The contents page will indicate whether a Guidance Note has been withdrawn and/or replaced by a TIP. Over time, all current Guidance Notes will be replaced by TIPs.
How do I access them?
The TIPS do not require a section number anymore as they will not be located in section 8 or 11 of the ANZ Valuation and Property Standards manual. The TIPs are standalone documents and are accessed via a link on the API website. Click on the selected TIP to view and/or print the document.
The TIP may have a link on the last page of the document that will take you to an associated support document known as a ‘Resource Pack’. Not all TIPs will have a Resource Pack but many will. The Resource Pack may also contain a link to a brief video recording which explains how the TIP is applied in practice.
The video recording will be by an industry expert who will explain the key points and need for the TIP and how to apply the TIP in practice. We are in the process of arranging video production and you will be advised when the videos are ready for viewing. The production of videos will be on a trial basis so your feedback will be important.
Standing instructions for commercial valuation
In addition to the above TIPs, a commercial valuation instruction has been developed. The aim of these instructions is to encourage a consistent form of instructions from bank clients to valuers. The instructions are titled: Standard Instructions for Valuations of Office, Industrial and Retail Property for Mortgage Security Purposes.
The above Standard Instructions may also be accessed via the API website.