Short answer
A valuation report should be read in the context of its purpose, valuation date, intended user, inspection basis, assumptions, limitations and evidence.
Professional valuation work is not a general statement of value for every possible use. A report prepared for one purpose may not be suitable for another purpose.
Readers should check the report scope and reliance wording before using the report for legal, taxation, financial, revenue or court-related decisions.
Start here
Professional standards and report-use wording help define what the valuer has done, what the report is for and who may rely on it.
This is important because valuation risk often arises from using a report outside its intended purpose, date, user or scope.
The report should identify key matters such as the basis of value, property interest, valuation date, methodology, inspection basis, assumptions and limitations.
Information that may assist
Where a report is needed for formal use, the client should confirm the required purpose, intended user and report format before instructing the valuer.
If an existing report is being reused, the valuer should confirm whether the original scope supports that use.
Common questions
- Who can rely on a valuation report?
- Why does the purpose of valuation matter?
- What is a scope of work?
- What are assumptions and limitations?
- What is the difference between inspection date and valuation date?
- Can a valuation report be reused?
Related glossary
- Scope of Work
- Reliance
- Intended User
- Assumption
- Limitation
- Date of Valuation
- Date of Inspection
- Basis of Value
- Market Value
- Valuation Report
Related articles
Related services
Prepared by:
Tigran Amiyants, Certified Practising Valuer (CPV), Managing Director, Northbourne Valuers.
Last reviewed:
July 2026.
General information note:
This page provides general information only and does not constitute valuation, legal, taxation or financial advice. Every valuation depends on the specific property, purpose, valuation date, evidence, assumptions and instructions. Legal, taxation and financial matters should be discussed with the appropriate qualified adviser.