Valuation and Inspection Reports

13 Avonlea Grove 13 Avonlea Grove Created: 28/05/2015 Last Updated: 13/11/2015 Prepared for: Owner 123 99% 4 TESTS COMPLETED OVERALL SCORE ACTIONS REQUIRED RESPONSIBLE PERSON Unassigned ACTIONS ASSIGNED 4 (100%) Prepared by Steam Limited 04 889 0770 www.triplecheck.kiwi Auditor: Mike Winton BCA WDRT CCT MRS IICRC Certified / Internachi Certified Home Inspector
13 Avonlea Grove 13 Avonlea Grove Created  28 05 2015 Last Updated  13 11 2015 Prepared for  Owner  123  99   4  TESTS COM...
RESULT COMMENTS EXTERNAL WALLS, EXTERNAL WINDOWS, EXTERNAL ENTRIES 1.1 Entry is watertight. Pass 1.2 Windows in good condition Pass 1.3 Cladding is in good condition Pass 1.4 Penetrations are well sealed Pass 1.5 Eaves protect top of walls Pass 1.6 Pathways are well sealed Pass 1.7 Organic material is not against the building Pass 1.8 Wall cladding is 200 mm's above ground level Fail 1.9 Paint / plaster in good condition Pass 1.10 No evidence of water damage Pass 1.11 No high moisture levels detected Pass 1.12 Doors are in good condition Pass 1.13 Window sills in good condition Pass 1.14 Door jambs in good condition Pass 1.15 No gaps found Pass 1.16 No decking hard against the cladding N/A 1.17 Foundations are in good condition Pass 1.18 Foundations when seen are in good condition Pass Met code at time of build - regulations have since changed. All moisture readings around pad all windows were below 18% moisture content. ROOF / BALCONIES 2.1 Can roof be easily accessed N/A 2.2 Visual inspection shows roof is in good condition N/A 2.3 Roof paint is in good condition Pass 2.4 Gutters are unblocked Pass 2.5 Roof is free from mould or algae Pass Newly painted roof Action Assignee Due Date Clean annually No Name N/A 2.6 Balconies are in good condition N/A 2.7 Balcony walking surface is in good condition N/A 2.8 Eaves are in good condition Pass 2.9 Roof penetrations are in good condition N/A 2.10 Weather proofing around penetrations appears in good condition Pass Complete? No Action Comments Spray with spray and walk away
RESULT  COMMENTS  EXTERNAL WALLS, EXTERNAL WINDOWS, EXTERNAL ENTRIES 1.1 Entry is watertight.  Pass  1.2 Windows in good c...
2.11 Thermal imaging does not show any obvious holes or leaks in roof Pass 2.12 Balcony penetrations are in good condition N/A 2.13 Balcony penetrations are weather tight N/A ENTRY / FOYER 3.1 Door is in good condition Pass 3.2 Moisture levels around door are acceptable Pass 3.3 No breaks in door glass Pass 3.4 Sealant around Windows' is in good condition Pass 3.5 No missing insulation present Pass 3.6 No evidence of water damage Pass 3.7 Floor moisture levels are acceptable Pass HALLWAYS 4.1 No evidence of previous moisture damage Pass 4.2 Walls and ceilings show no evidence of moisture issues Pass 4.3 Readings taken backing onto kitchen, laundry or bathrooms show no indication of moisture issues. Pass KITCHEN 5.1 Kitchen windows show no high moisture readings Pass 5.2 Kitchen window sills are in good condition with no moisture issues Pass 5.3 No mould present Pass 5.4 No mould smells evident Pass 5.5 Beneath sink shows no signs of moisture issues Pass 5.6 Kitchen floor has no cracks in the vinyl N/A 5.7 Floor skirting is not swollen or cracked Pass 5.8 No high moisture readings around dishwasher at floor level Pass 5.9 Visible pipes are not leaking Pass 5.10 There is an extractor fan present and working Pass 5.11 Tap ware is not leaking Pass 5.12 Moisture level around the refrigerator / freezer is acceptable Pass DINING ROOM Invasive tests were undertaken. No wet areas found.
2.11 Thermal imaging does not show any obvious holes or leaks in roof  Pass  2.12 Balcony penetrations are in good conditi...
6.1 No evidence of water damage in the floor, walls or ceiling Pass 6.2 Any vinyl present is not cracked or broken N/A 6.3 Skirting is not damaged Pass 6.4 No evidence of missing insulation in the ceiling Pass 6.5 Windows are in good condition with acceptable moisture levels Pass 6.6 Window joinery is in good condition Pass 6.7 No mould present Pass 6.8 No mould smell present Pass LIVING ROOM 7.1 No evidence of water damage in the floor, walls or ceiling Pass 7.2 Any vinyl present is not cracked or broken N/A 7.3 Skirting is not damaged Pass 7.4 No evidence of missing insulation in the ceiling Pass 7.5 Windows are in good condition with acceptable moisture levels Pass 7.6 Window joinery is in good condition Pass 7.7 No mould present Pass 7.8 No mould smell evident Pass BATHROOMS / TOILETS 8.1 Any vinyl present is not cracked or broken Pass 8.2 Any tiles present are not broken or cracked Pass 8.3 Extractor fans present and working Pass 8.4 No swollen MDF skirtings / MDF cabinetry Pass 8.5 Moisture level around toilets are acceptable Pass 8.6 Moisture levels around cisterns are acceptable Pass 8.7 Moisture levels around front of showers are acceptable Pass 8.8 Moisture level around front of bath is acceptable Pass 8.9 Sealant around baths and showers appears to be working as designed Pass 8.10 Window sills are in good condition Pass 8.11 Window joinery is in good condition Pass 8.12 Moisture level around windows is acceptable Pass 8.13 Design of rooms allow moisture to easily escape Pass Thermal imaging detected no hidden leaks.
6.1 No evidence of water damage in the    oor, walls or ceiling  Pass  6.2 Any vinyl present is not cracked or broken  N A...
8.14 Tap ware in good condition Pass 8.15 Shower rose in good condition Pass 8.16 No mould present Pass 8.17 No mould smell present Pass 8.18 Sealant around top of bath area tiles is in good condition Pass 8.19 Sealant around wash basins and furniture is working well Pass LAUNDRY / GARAGE 9.1 Laundry sinks sealed at wall Pass 9.2 Moisture levels around sinks is acceptable Pass 9.3 Moisture level at floor level is acceptable Pass 9.4 No evidence of swollen MDF Pass 9.5 Visible plumbing is in good condition Pass 9.6 Windows are in good condition Pass 9.7 Window sills are in good condition Pass 9.8 Moisture level around windows is acceptable Pass 9.9 Moisture level around door is acceptable Pass 9.10 No evidence of leaking around washing machine Pass 9.11 Moisture levels around washing machines are acceptable Pass 9.12 Clothes dryer present Pass 9.13 Clothes dryer has an exhaust that is plumbed externally or reaches to the outside N/A 9.14 Garage doors keeps out the moisture and rain Pass 9.15 No mould or mould smell present Pass 9.16 no cracked flooring around washing machines or sinks Pass BEDROOMS 10.1 No missing insulation in ceiling Pass 10.2 Windows in good condition Pass 10.3 Window sills in good condition Pass 10.4 No high moisture levels around windows Pass 10.5 No swollen skirtings Pass 10.6 No deformed gib board walls Pass 10.7 No water stains on carpets Pass
8.14 Tap ware in good condition  Pass  8.15 Shower rose in good condition  Pass  8.16 No mould present  Pass  8.17 No moul...
10.8 Acceptable moisture levels in floor Pass 10.9 No water marks in ceiling Pass 10.10 No evidence of prior water damage Pass 10.11 No mould present No mould smells present Pass 10.12 Single glazed windows Pass 10.13 Double glazed windows N/A 10.14 No cracks in wallpaper or plaster Pass 10.15 External doors are well sealed Pass 10.16 Moisture levels around doors are acceptable Pass DVS / HRV / HEATING 11.1 Central heating present N/A 11.2 DVS present N/A 11.3 HRV present N/A 11.4 Gas heating present Pass 11.5 Wood fire present Pass SUMMARY 12.1 The house is not a leaky home? Pass 12.2 The house has not been a leaky home in the past? Pass No evidence discovered to indicate any issues relating to moisture entry. 12.3 The house in not indicating that it could become a leaky home in the future? Pass Depends on future scheduled maintenance of window joinery and cladding system. Action Assignee Due Date Clean weep holes in joinery No Name N/A No Every 6 months Paint every 8 years with elastomeric paint No Name N/A No Elastomeric paint Pass Fix bathroom leak Action Assignee Due Date Buyer and seller have reached agreement on this No Name N/A 12.4 There is no major remedial work that requires to be done to bring it up to a liveable standard. $1,000 plus in estimated work required 12.5 There is no minor remedial work required to bring it up to liveable standards. $150 to $999 Pass 12.6 There is no owner managed minor repairs to be done? Under $150 Pass 12.7 There are moisture readings indicating the aluminium joinery needs to be cleaned. With a pipe cleaner in the condensation exit holes on the left and right sides of the windows and doors. Once cleaned and flowing freely the surrounding areas should dry to normal within 90 days. Pass Complete? Complete? No Action Comments Action Comments Plumber to fix leak in waste pipe of bath
10.8 Acceptable moisture levels in    oor  Pass  10.9 No water marks in ceiling  Pass  10.10 No evidence of prior water da...
12.8 The claddings facing into the north are carrying higher moisture readings due to constant hydrostatic pressure - moisture vapour. This is normal and to be expected. N/A 12.9 The claddings facing into the south are carrying higher moisture readings due to constant hydrostatic pressure - moisture vapour. This is normal and to be expected. N/A 12.10 There is minor painting work that the owner can undertake. N/A 12.11 The paint system is in good condition Pass 12.12 There is no major work required to make the house reach liveable conditions with regards to moisture, mould or water entry. Pass 12.13 There are no water issues found that require professional drying services. Pass 12.14 There are no water issues found that require immediate cladding system maintenance painting, water barriers, roofers on site. Pass 12.15 The home can be purchased without any expectation of major capital expenditure in regards to moisture issues. Pass 12.16 Tests done comprise: visual inspection, non invasive moisture meter survey of doors, walls and windows, thermal imaging of entire interior, minor invasive moisture survey in areas indicated by thermal imaging and non invasive moisture survey. Thermal imaging of ceilings. Testing of attic space and basement if above indicative results indicate moisture issues require inspection. Checked all water areas externally - bathroom, kitchen, laundry. These tests will find most active water events that are currently wet. These tests should find any roof leaks that are active and wet. Internal basement leaks under the house will be unlikely to be found unless water is leaking outside of the foundations. $350 + gst. N/A 12.17 Tests done comprise: visual inspection, non invasive moisture meter survey of doors, walls and windows, thermal imaging of entire interior, minor invasive moisture survey in areas indicated by thermal imaging and non invasive moisture survey. Thermal imaging of ceilings. Testing of attic space and basement if above indicative results indicate moisture issues require inspection. Checked all water areas externally - bathroom, kitchen, laundry. These tests will find most active water events that are currently wet. These tests should find any roof leaks that are active and wet. Internal basement leaks under the house will be unlikely to be found unless water is leaking outside of the foundations. Plus drilling into framing timber to check for wet framing timber. Attic inspection and basement inspection. From $699 + gst Pass After opening walls to check moisture levels, there is nothing else I can recommend currently
12.8 The claddings facing into the north are carrying higher moisture readings due to constant hydrostatic pressure - mois...
12.18 The client can expect that all leaks and moisture issues of significant size will be found these are issues that would / will have an impact on the house. Tiny leaks, pinhole, beginning roof leaks, plumbing leaks inside the walls may not be found at the time of the survey. Pass FINAL COMMENTS Invasive work has been done to check moisture levels. Dry timber was found. Previous repair work undertaken has given levels that are now acceptable for moisture content -, below 20% moisture content. House is working as designed. Thermal images show that there was no roof leaks or plumbing failures at time of inspection.House has been painted internally. Roof has been painted externally. This report has been updated to reflect work done to update house based on valuers report. SIGNEES Mike Winton IICRC Certified Technician
12.18 The client can expect that all leaks and moisture issues of signi   cant size will be found these are issues that wo...
Valuation Report 13 Avonlea Grove, Belmont, Lower Hutt City Client Mike Sarich Effective Date 08 September 2015 Property InDepth ID 48355 The copy of this report is available to be viewed online by clicking on the following link http://client.propertyindepth.co.nz//?q=3RVNJ23uAq4tWkKzjEH7PwqWAj09pKGS
Valuation Report 13 Avonlea Grove, Belmont, Lower Hutt City Client  Mike Sarich  Effective Date  08 September 2015  Proper...
13 Avonlea Grove, Belmont TABLE OF CONTENTS Contents Page 1 1 Valuation Summary 2 2 Risk Assessment 3 3 Legal Description 5 4 Territorial Authority 6 5 Location 7 6 Land 8 7 Improvements 10 8 Floor Plan 16 9 Photos 19 10 Rental / Tenancy Details 21 11 Market Commentary 22 12 Valuation Methodology 24 13 Valuation 27 14 Disclaimer 28 15 Sign Off 31 16 Certificate of Title Information 32 Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 1 of 37
13 Avonlea Grove, Belmont  TABLE OF CONTENTS Contents Page  1  1 Valuation Summary  2  2 Risk Assessment  3  3 Legal Descr...
13 Avonlea Grove, Belmont 1 VALUATION SUMMARY Property Address 13 Avonlea Grove, Belmont, Lower Hutt City Instructed By Mike Sarich Client Mike Sarich Purpose of Valuation To establish Market Value for mortgage lending purposes. Date of Inspection 08 September 2015 Date of Valuation 08 September 2015 Brief Description The subject property comprises an unusually large residential zoned section of freehold tenure, located in Belmont, on the slopes of the western hills of Lower Hutt. The proportions of the site facilitate a good degree of privacy for the property, but a covenant on the title is in place to prohibit further subdivision. Erected on the site in circa 1997 is a substantial multi-level dwelling, being of a construction typical of the era, with plasterfinished wall cladding and a pre-coloured steel roof. Internally the dwelling fit-out is largely consistent with the age of the dwelling, and some areas would benefit from redecoration to maximise the saleability of the property. Accommodation generally comprises a garage, workshop and entry to the lowest floor level, the kitchen and spacious living accommodation plus toilet and laundry to the ground level, and bedrooms (five), plus two bathrooms (one ensuite), toilet and higher split level study to the upper level. Valuation We assess the Market Value of the subject property to be $760,000 (Seven Hundred Sixty Thousand Dollars). This valuation is inclusive of GST (if any) Basis of Valuation Market Value is defined as the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm's-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion. This report must be read in conjunction with the disclaimers contained in the rear of this report (see Disclaimer for full details). Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 2 of 37
13 Avonlea Grove, Belmont  1 VALUATION SUMMARY Property Address  13 Avonlea Grove, Belmont, Lower Hutt City  Instructed By...
13 Avonlea Grove, Belmont 2 RISK ASSESSMENT The Risk matrix provides a graphical overview of several of the factors considered when undertaking this valuation. This profile looks at eight factors, four of which are property specific and four which look at the market. Each category is assessed as to how it affects the subject property’s value or marketability. Lower risk ratings indicate the property should perform well, whilst higher ratings indicate areas which may need further consideration by the client or lender, and which provides issues regards value or marketability. We report as follows: Additional comments on aspects of risk are as follows: PROPERTY RISKS Location and Neighbourhood Low to Medium (Reflects an overall rating for these two aspects. Refers to the quality of the neighbourhood combined with the location with respect to amenities and facilities) Land Low to Medium (Land in this instance refers not only to the land physically, but also to access, services, planning and title. This is measured relative to the market the subject property is in.) Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 3 of 37
13 Avonlea Grove, Belmont  2 RISK ASSESSMENT The Risk matrix provides a graphical overview of several of the factors consi...
13 Avonlea Grove, Belmont Environmental Issues Low to Medium (Covers a range of environmental issues including any significant, observable, visual and/or known, defects, hazards or site, contamination This is measured relative to the market the subject property is in.) Improvements Medium to High (Refers to all improvements, whether the main building or ancillary improvements(and for a TBE - Proposed Dwelling, Extensions or Renovations, would include concerns about aspects of the project or tender).) The subject dwelling is of a construction era and style whereby some examples of other dwellings of similar construction and age have experienced problems with moisture decay. Given the construction materials and era of construction we recommend that further weather tightness investigations are undertaken by a suitability qualified weather tightness professional to confirm no such issues are present in this property. Accordingly, our valuation assessment assumes there are no problems with moisture to the property, but should such an issue arise after appropriate testing, then Property In Depth and Stuart Knight reserve the right to amend this assessment accordingly. MARKET RISKS Recent Market Direction (price) Low to Medium (A brief note of the recent direction (and strength) of movement in prices.) Market Volatility Low to Medium (The risk of significant adverse impact on the value of the subject property of the market changing direction rapidly. Refers to the relevant market segment.) Local Economic Impact Low to Medium (The extent to which a significant change in the local economy is impacting adversely and/or the risk that it may impact adversely on the value of the subject property. Refers to the economy (population, employment and services) within that location.) Market Segment Conditions Low to Medium (The extent to which the condition of the market in this particular market segment is impacting or may impact adversely on the subject property.) Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 4 of 37
13 Avonlea Grove, Belmont  Environmental Issues  Low to Medium   Covers a range of environmental issues including any sign...
13 Avonlea Grove, Belmont 3 LEGAL DESCRIPTION Computer Freehold Register Identifier 81956 Proprietor Michael Douglas Sarich, Andrea Maree Sarich and Carey James Rohloff Legal Description Lot 75 Deposited Plan 320681 Estate Fee Simple Area 5840m2 (more or less) Interests Appurtenant hereto are rights of way and rights to stormwater and sewage drainage, power and gas specified in Easement Certificate B321782.1 - 1.12.1993 at 10.17 am (affects part formerly CT WN44D/770 and WN56D/257) Appurtenant hereto is a right of way and rights to gas, power, water, telecom, and sewage and strormwater drainage specified in Easement Certificate B072498.3 - 2.4.1990 (Affects the part formerly in CT WN36D/278). The easements specified in Easement Certificate B072498.3 are subject to Section 309 (1) (a) Local Government Act 1974 Land Covenant in Transfer B072498.7 - 2.4.1990 and varied B305248.1- 18.8.1993 at 10.42 am (Affects the part formerly in CT WN36D/278) - This covenant restricts building development on the subject land to a single family dwelling, and also sets out a minimum build cost, requires plans to be submitted to the developer, limits any temporary dwelling units, etc, in order to maintain a good quality standard of development on the subject lot. B124021.1 Variation of the conditions of the easement specified in Easement Certificate B072498.3 - 12.10.1990 at 10.26 am Subject to a right of way, electricity, telecommunications, water and gas supply, sewage and water drainage over part marked AY on DP 320681 created by Easement Instrument 5691171.14 13.8.2003 at 9:00 am The easements created by Easement Instrument 5691171.14 are subject to Section 243 (a) Resource Management Act 1991 8173175.3 Mortgage to ANZ National Bank Limited - 29.5.2009 at 12:47 pm The above registrations are noted and have been considered within our assessment of value for the subject property. Copy of Title See copy of Title attached in Appendix Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 5 of 37
13 Avonlea Grove, Belmont  3 LEGAL DESCRIPTION Computer Freehold Register Identifier  81956  Proprietor  Michael Douglas S...
13 Avonlea Grove, Belmont 4 TERRITORIAL AUTHORITY 4.1 Resource Management Zoning Hill Residential Activity Area, Lower Hutt District Plan Zone Description This Zoning under the City of Lower Hutt District Plan operative 24 June 2003, comprises several residential areas on the hillsides of Lower Hutt City and is characterised by steep slopes, sometimes difficult access, low density residential development and extensive areas of vegetation and native bush. The main Rules under this zoning are a maximum site coverage of 35%, minimum net site area of 1000 square metres, maximum overall building height of 13 metres and an allowance for removal of vegetation (excluding removal of any pest plant) in excess of 500 square metres or 35% of the site, whichever is the lesser. Permitted Activities include dwelling houses, home occupations, childcare and kohanga reo facilities and residential facilities accommodating 8-10 persons and accessory buildings to these permitted activities. The subject property complies as a Permitted Activity in its current use under this Zoning. 4.2 Rating Valuation Land Value $435,000 Capital Value $840,000 Effective date of assessment 01 Sep 13 Comments Rating valuations are generally undertaken three-yearly, and are conducted using mass appraisal valuation techniques. They are generally used by local Councils to apportion the rates. Properties are seldom visited by valuers, and recent improvements may not be recorded. The Rating value assumes the property is freehold, even if the property is leasehold. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 6 of 37
13 Avonlea Grove, Belmont  4 TERRITORIAL AUTHORITY 4.1 Resource Management Zoning  Hill Residential Activity Area, Lower H...
13 Avonlea Grove, Belmont 5 LOCATION View Google Maps Location Belmont is situated within the western hills of Lower Hutt, being a hillside subdivision with many of the original properties having spectacular views over the Lower Hutt river valley basin and towards the harbour entrance. The area was originally developed in the 1930s with subsequent development occurring at regular intervals thereafter. There is limited shopping within the immediate vicinity although the Lower Hutt city centre is within easy travelling distance. Pre-school and primary schools are situated adjacent the Western Hutt Road. Male and female secondary schools are located within the Lower Hutt city area. Public transport is provided with buses into Lower Hutt city linking in with the railway commuter network to Wellington City. Avonlea Grove is a residential cul-de-sac running off the upper end of Wairere Road, and was generally developed in the 1990's for relatively large family homes. The subject property is more particularly located mid way along the northern side of Avonlea Grove. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 7 of 37
13 Avonlea Grove, Belmont  5 LOCATION  View Google Maps Location  Belmont is situated within the western hills of Lower Hu...
13 Avonlea Grove, Belmont 6 LAND Aspect South East Contour Steep site with level building platform and yard Exposure to Sun Good sun Exposure to Wind Exposed to wind Road Access Cul-de-sac Services Electricity supplied to site Prominent View Elevated neighbourhood Bush Harbour Further comment The subject land is a particularly large irregular shaped inside lot with a frontage to Avonlea Grove. The reader is referred to the appended Computer Freehold Register (Title) for a plan depicting site dimensions. The land rises above street level from south to north, with the well formed driveway rising through an easy to moderate grade to the Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 8 of 37
13 Avonlea Grove, Belmont  6 LAND  Aspect  South East  Contour  Steep site with level building platform and yard  Exposure...
13 Avonlea Grove, Belmont elevated building platform. The land is predominately steeply sloping in grade, but with a good sized level lawn are off the northern side of the building platform. The aspect of the property is south-east to the street, the site lying reasonably well to receive sun for much of the day, but it may lose somemid-winter sun and late day sun due to the rising land to the west and north of the dwelling structure. There would be reasonable shelter from prevailing north-westerly winds, but some exposure to southerly winds. A broad outlook is available across the Hutt Valley to the eastern hills, and also to the Harbour and Seaview in the distance to the south. A bush gully outlook is available to the west. To our knowledge, most City Council services are provided on to, or close to the subject site. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 9 of 37
13 Avonlea Grove, Belmont  elevated building platform. The land is predominately steeply sloping in grade, but with a good...
13 Avonlea Grove, Belmont 7 IMPROVEMENTS 7.1 Overview The subject property comprises an unusually large residential zoned section of freehold tenure, located in Belmont, on the slopes of the western hills of Lower Hutt. The proportions of the site facilitate a good degree of privacy for the property, but a covenant on the title is in place to prohibit further subdivision. Erected on the site in circa 1997 is a substantial multi-level dwelling, being of a construction typical of the era, with plaster-finished wall cladding and a pre-coloured steel roof. Internally the dwelling fit-out is largely consistent with the age of the dwelling, and some areas would benefit from redecoration to maximise the saleability of the property. Accommodation generally comprises a garage, workshop and entry to the lowest floor level, the kitchen and spacious living accommodation plus toilet and laundry to the ground level, and bedrooms (five), plus two bathrooms (one ensuite), toilet and higher split level study to the upper level. Property Type Residential Dwelling Construction Date Circa 1990's Exterior Cladding Plaster - over polystyrene Roof Cladding Long Run Pre-painted Steel 7.1.1 Floor Areas The approximate floor areas are as follows: Living 370 square metres Total floor area 7.1.2 Construction External Wall claddings 370 square metres Plaster - over polystyrene (Unable to Verify) Roof Long Run Pre-painted Steel (Showing visible signs of wear) Spouting and down pipes Spouting - powder coated (Well Maintained), Downpipes - PVC (Well Maintained) Foundation Concrete slab (Well Maintained) Floor Concrete slab (Well Maintained), Timber particle board (Unable to Verify) Joinery Aluminium - double glazed (Well Maintained), Aluminium - single glazed (Well Maintained) The pre-coloured coating to the roof cladding is wearing. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 10 of 37
13 Avonlea Grove, Belmont  7 IMPROVEMENTS 7.1 Overview The subject property comprises an unusually large residential zoned...
13 Avonlea Grove, Belmont 7.1.3 Accommodation Ground Floor, Kitchen Full Kitchen Floor Coverings Timber Overlay (In reasonable condition) Window Treatments Roman Blinds (Well Maintained) Appliances Stove - gas top (In reasonable condition), Dishwasher (Well Maintained), Range Hood- ducted (In reasonable condition), Waste Disposal (In reasonable condition) Kitchen Cabinetry 1 1/2 Sink (Well Maintained), Bench top - granite (Well Maintained), Cabinets - melamine surface (Showing visible signs of wear) Ground Floor, Lounge Open Plan Floor Coverings Carpet (In reasonable condition) Window Treatments Curtains (Well Maintained) Heating Log Burner (In reasonable condition) Two step lower split level spacious lounge with broad views across the Hutt Valley. Ground Floor, Dining Open Plan Floor Coverings Window Treatments Ground Floor, Hallway Floor Coverings Storage Carpet (In reasonable condition) Roman Blinds (Well Maintained) Carpet (Showing considerable signs of wear and damage) Single Cupboard (Well Maintained) Ground Floor, Laundry Separate Room External Access Single pedestrian door (In reasonable condition) Floor Coverings Tiles (In reasonable condition) Laundry Fittings Stainless steel tub with cabinet (In reasonable condition), Washing machine taps (In reasonable condition) Storage Single Cupboard (In reasonable condition) Ground Floor, Stairs Floor Coverings Timber Overlay (In reasonable condition) Spacious landing off the top of the stairs, with bi-fold doors to rear yard. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 11 of 37
13 Avonlea Grove, Belmont  7.1.3 Accommodation Ground Floor, Kitchen Full Kitchen Floor Coverings  Timber Overlay  In reas...
13 Avonlea Grove, Belmont Ground Floor, Stairs Floor Coverings Window Treatments Carpet (In reasonable condition) Timber Venetian Blinds (Well Maintained) Stairs to upper floor level; Paint required to wall linings. Ground Floor, Toilet Floor Coverings Bathroom fittings Tiles (In reasonable condition) Toilet - china cistern (Well Maintained), Wash hand basin (In reasonable condition) Some finishing decor required to wall linings. Ground Floor, Family Room External Access French door (Well Maintained) Floor Coverings Carpet (In reasonable condition) Window Treatments Roman Blinds (Well Maintained), Curtains (Well Maintained) Open to the kitchen; Double door access to covered deck and rear yard. Ground Floor, Internal Fitout Wall linings Plaster Board (In reasonable condition) Ceiling Linings Plaster Board (In reasonable condition) Light fittings Predominantly halogen (In reasonable condition) Heating Central Heating (Unable to Verify) Water heating Gas - inline - external (In reasonable condition) Security System Hard Wired Alarm (Unable to Verify) Central Vacuum System Central Vacuum System (Unable to Verify) 1st Floor, Bedroom Single Floor Coverings Carpet (In reasonable condition) Window Treatments Roman Blinds (Well Maintained) Wardrobe Wardrobe organiser (Well Maintained), Double (Well Maintained) Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 12 of 37
13 Avonlea Grove, Belmont  Ground Floor, Stairs Floor Coverings Window Treatments  Carpet  In reasonable condition  Timber...
13 Avonlea Grove, Belmont 1st Floor, Bedroom Master Floor Coverings Carpet (In reasonable condition) Window Treatments Roman Blinds (Well Maintained), Curtains (Well Maintained) Wardrobe Wardrobe organiser (Well Maintained), Walk in (Well Maintained) wall linings require decoration. 1st Floor, Bedroom Double Floor Coverings Carpet (In reasonable condition) Window Treatments Curtains (Well Maintained) Wardrobe Double (Well Maintained) 1st Floor, Bedroom Double Floor Coverings Carpet (In reasonable condition) Window Treatments Curtains (Well Maintained) Wardrobe Double (Well Maintained) 1st Floor, Bedroom Double Floor Coverings Carpet (In reasonable condition) Window Treatments Curtains (Well Maintained) Wardrobe Single (Well Maintained) 1st Floor, Bathroom Ensuite Master Floor Coverings Tiles (In reasonable condition) Window Treatments Venetian Blinds (In reasonable condition) Bathroom fittings Mirror (In reasonable condition), Toilet - china cistern (Well Maintained), Shower - base with wall panels (In reasonable condition), Vanity with twin basins (In reasonable condition), Heated Towel rail (In reasonable condition), Extraction Fan (In reasonable condition) Heating Electric - hard wired (In reasonable condition) Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 13 of 37
13 Avonlea Grove, Belmont  1st Floor, Bedroom Master Floor Coverings  Carpet  In reasonable condition   Window Treatments ...
13 Avonlea Grove, Belmont 1st Floor, Bathroom Shared Bathroom Floor Coverings Bathroom fittings Tiles (In reasonable condition) Mirror (In reasonable condition), Vanity - single basin (In reasonable condition), Shower - base with wall panels (In reasonable condition), Bath - molded acrylic (Well Maintained), Heated Towel rail (In reasonable condition), Extraction Fan (In reasonable condition) Wall linings require decoration. 1st Floor, Hallway Floor Coverings Storage 1st Floor, Study Separate Room Floor Coverings Window Treatments Carpet (In reasonable condition) Linen Cupboard (Well Maintained), Double Cupboard (Well Maintained) Carpet (In reasonable condition) Timber Venetian Blinds (Well Maintained) Higher split level study. 1st Floor, Toilet Floor Coverings Bathroom fittings Basement, Hallway Floor Coverings Storage Basement, Entry External Access Floor Coverings Basement, Garage Double Garage Door Door opener Tiles (In reasonable condition) Toilet - china cistern (Well Maintained), Wash hand basin (Well Maintained) Tiles (In reasonable condition) Under-stair cupboard (Well Maintained) Single pedestrian door (In reasonable condition) Tiles (In reasonable condition) Double sectional - Timber (Well Maintained) Motorised with remote control (Well Maintained) Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 14 of 37
13 Avonlea Grove, Belmont  1st Floor, Bathroom Shared Bathroom Floor Coverings Bathroom fittings  Tiles  In reasonable con...
13 Avonlea Grove, Belmont Basement, Stairs Floor Coverings Carpet (In reasonable condition) Incorporates a study alcove off mid-point on stairs. Basement, Stairs Floor Coverings Tiles (In reasonable condition) Stairs up from entry. Basement, Storage Storage Room Room (Well Maintained) Walk-in workshop/storage room off the garage. 7.1.4 Site Improvements Driveway Asphalt (Showing visible signs of wear) Clothes Line Rotary Clothesline (Well Maintained) Path Concrete (Well Maintained), Pavers (In reasonable condition), Gravel (Well Maintained) Patio Timber decking - softwood (Showing visible signs of wear) Landscaping Good (Well Maintained) Pergola/ Gazebo Pergola - small (In reasonable condition) 7.1.5 Ways to Increase Marketability or Saleability Exterior General redecoration. Interior General redecoration, including replaced carpets, finishing interior paint, and eventually modernisation of kitchen and bathroom fit-out. 7.1.6 Additional Comment NB: Floor area is approximate, calculated from floor plans, but we note that it differs from what is shown on Quotable Value NZ records (413m2). Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 15 of 37
13 Avonlea Grove, Belmont  Basement, Stairs Floor Coverings  Carpet  In reasonable condition   Incorporates a study alcove...
13 Avonlea Grove, Belmont 8 FLOOR PLAN 8.1 13 Avonlea Grove, Belmont Basement Floor Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 16 of 37
13 Avonlea Grove, Belmont  8 FLOOR PLAN 8.1 13 Avonlea Grove, Belmont  Basement Floor  Thgink Limited trading as Property ...
13 Avonlea Grove, Belmont Ground Floor Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 17 of 37
13 Avonlea Grove, Belmont  Ground Floor  Thgink Limited trading as Property Indepth   0800 INDEPTH  463 378    info proper...
13 Avonlea Grove, Belmont First Floor Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 18 of 37
13 Avonlea Grove, Belmont  First Floor  Thgink Limited trading as Property Indepth   0800 INDEPTH  463 378    info propert...
13 Avonlea Grove, Belmont 9 PHOTOS South-East (Front) Elevation North-West (Rear) Elevation Lounge Family-Dining Room Kitchen Family Bathroom Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 19 of 37
13 Avonlea Grove, Belmont  9 PHOTOS South-East  Front  Elevation  North-West  Rear  Elevation  Lounge  Family-Dining Room ...
13 Avonlea Grove, Belmont Ensuite Bathroom Rear Yard South View East View Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 20 of 37
13 Avonlea Grove, Belmont  Ensuite Bathroom  Rear Yard  South View  East View  Thgink Limited trading as Property Indepth ...
13 Avonlea Grove, Belmont 10 RENTAL / TENANCY DETAILS Information supplied is that this property is currently tenanted. Current Rent Paid $700 per week Information supplied by Tenant Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 21 of 37
13 Avonlea Grove, Belmont  10 RENTAL   TENANCY DETAILS Information supplied is that this property is currently tenanted. C...
13 Avonlea Grove, Belmont 11 MARKET COMMENTARY 11.1 Local Market Commentary The general market for residential property in the Wellington Region is currently relatively buoyant, with particularly strong demand for well presented and/or well located suburban dwellings, but a lack of stock listed on the market has reduced sales volumes over the recent winter months. First home buyers and investors are active in the market, looking to take advantage of the lowering interest rates. The Reserve Bank had raised the Official Cash Rate (OCR) through 2014, but these increases in the OCR have now reversed, and with strong competition between banks, there is now a lowering of interest rates again. Local real estate agents are now consistently reporting low stock levels listed on the market, and with continued steady demand, strong prices are currently being paid for well located and well presented properties, and coupled with the unprecedented low interest rate environment, we expect strong sale prices to continue over the coming few months. The market is particularly strong for properties priced less than in the order $700,000, but the market is generally somewhat less buoyant for higher valued properties. The local market in Belmont is currently experiencing limited sales activity, with shortages of good quality modernised and refurbished homes available for sale, and any properties currently for sale being relatively quickly sold with shorter than usual marketing periods, due to current increased demand and lack of supply, thereby placing upward pressure on prices. 11.2 National Market Commentary A recent ANZ report confirmed that nationwide annual house price inflation continues to firm, with pockets of buoyancy spreading from Auckland. House prices remain stretched relative to both incomes and rents, but historically low fixed mortgage interest rates, tight dwelling supply, and high net immigration are providing upward impetus. There is a limit to how much further prices can rise given stretched affordability. A softer economy and pending RBNZ and Government policy changes to cool investor demand are expected to help level out price movements. A recent REINZ release also commented that the volume of sales activity “continues to be very strong” despite the wintry conditions, no doubt helped by the increase in property listings. Sales volumes rose a further 4.1% in August on top of the “exceptionally strong” July numbers, with the seasonally adjusted number of sales (8,548 according to our estimates) the strongest since May 2007, and annual growth in sales volumes strengthening to 42%. The median “days to sell” edged up to 32.8 days on a seasonally adjusted basis, well below the 37.9 of 12 months ago. Prices from the REINZ stratified house price index firmed 1.9% in September, with annual house price growth rising to 17.3%, the highest since July 2004. Annual house price inflation in Auckland strengthened to 26.3%, whilst there were signs of prices picking up in regions close to Auckland. The ANZ also recently reported that variable and carded rates have fallen further this month, with one and two year special rates offered by some lenders close to multi-decade lows. These rates look attractive as they offer a low rate, whilst striking the balance between providing flexibility and certainty. “Borrowers may choose to spread fixed terms across the one and two year tenors, but we have a mild preference for the former given our view of the global risk profile”. With the OCR expected to remain lower for longer, longer-term rates, while historically low, don’t offer the same value, though they do provide certainty. Statistics NZ also recently reported that there was a net inflow of 5,470 Permanent and Long term (PLT) migrants in August, fractionally down on the record 5,750 net gain in July, but still above the 5,172 person average over the last six months. On a three-month annualised basis, the net inflow is running at a 64,000 pace, and another new all-time high of 60,300 persons was recorded on an annual basis. High numbers of international student arrivals and fewer New Zealand citizens leaving for Australia have contributed to the Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 22 of 37
13 Avonlea Grove, Belmont  11 MARKET COMMENTARY 11.1 Local Market Commentary The general market for residential property i...
13 Avonlea Grove, Belmont strong net immigration flows. While this trend is expected to moderate shortly, there are few signs of this occurring to date. In summary, the economic outlook remains reasonably solid, supported by lower forecast interest rates, a construction pipeline, continued booming net migration and surging house prices. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 23 of 37
13 Avonlea Grove, Belmont  strong net immigration flows. While this trend is expected to moderate shortly, there are few s...
13 Avonlea Grove, Belmont 12 VALUATION METHODOLOGY To establish the Market Value for the property we have analysed a number of Comparable Sales, considering factors such as land (location, aspect, view, contour), dwelling (age, size, construction, design and utility), and site development (other buildings and improvements, and site layout). We have utilised the Sales Comparison approach when valuing the property. Below are a number of recent sales of particular interest: 12.1 Comparable Sales Evidence 11 Avonlea Grove, Belmont Sale Date : 22 February 2015 Price : $660,000 Land Area : 918m2 Recorded Floor Area : 227m2 Comments : A 2013-built weatherboard-clad dwelling offering four bedrooms, two bathrooms, living/service accommodation, and an integral double garage. Generally steep site with broad views over the Hutt Valley. Rating Valuation $650,000. Comparison : Much smaller but more modern dwelling in immediate proximity. Superior presentation, similar views, but less usable outdoor living. Overall inferior. 47 Arahiwi Grove, Tirohanga Sale Date : 19 March 2015 Price : $748,000 Land Area : 1780m2 Recorded Floor Area : 259m2 Comments : A 2006 four bedroom, two bathroom (one ensuite) split level home with large rumpus area and internal access double garage. Situated at cul de sac end of Arahiwi Grove and off a shared access extension. Wide Harbour views with rear of the site/rear yardage sloping downwards from road level. Rating Valuation $710,000. Comparison : A smaller more modern dwelling with superior Harbour views but more wind exposure. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 24 of 37
13 Avonlea Grove, Belmont  12 VALUATION METHODOLOGY To establish the Market Value for the property we have analysed a numb...
13 Avonlea Grove, Belmont 17 Corrondella Grove, Belmont Sale Date : 24 November 2014 Price : $754,000 Land Area : 2593m2 Recorded Floor Area : 430m2 Comments : A large 1970's single level dwelling offering four bedrooms, three bathrooms, billiards room, living/service accommodation, and an integral double garage. Built around an in-ground swimming pool, on a site of very large proportions. Generally tidy interior fit-out, but some dated areas. Rating Valuation $830,000. Comparison : More usable section, older style dwelling with a superior single level floor plan. Market conditions slightly better since this sale date. 49D Hill Road, Belmont Sale Date : Price : Land Area : Recorded Floor Area : Comments : Comparison : 55 Hill Road, Belmont Sale Date : Price : Land Area : Recorded Floor Area : Comments : Comparison : 17 June 2015 $775,000 2912m2 289m2 A 2007 five bedroom, three bathroom (one ensuite) split level home with internal access double garage. Lacks Harbour views but private bush-clad site with shared access driveway. Rating Valuation $750,000. Slightly smaller but better presented dwelling. 11 February 2015 $850,000 4232m2 380m2 A 1991-built large five bedroom, four bathroom (two ensuites) two storey home with internal access double garage and detached large workshop. Private bush-clad location with initial shared access driveway. Rating Valuation $730,000. Comparable floor area, but interior refurbished and considered superior overall. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 25 of 37
13 Avonlea Grove, Belmont  17 Corrondella Grove, Belmont Sale Date   24 November 2014 Price    754,000 Land Area   2593m2 ...
13 Avonlea Grove, Belmont 53 Dowse Drive, Maungaraki Sale Date : 13 June 2015 Price : $950,000 Land Area : 3313m2 Recorded Floor Area : 340m2 Comments : A 2012 large five bedroom, four bathroom (two ensuites) home over three levels with internal access single and double garaging. Wide elevated Harbour views and situated in the grounds of the former Kairangi Private Hospital in a quality elevated subdivision in a lower slopes location. Rating Valuation $1,150,000. Comparison : Superior more modern dwelling of comparable size. 12.2 Previous sale (within last 3 years) We are not aware of the subject property selling within the past three years. 12.3 Summary The subject property is relatively unique, and one for which there are few true comparisons due to the particularly large land area, However, we confirm that what we have deemed to be the most comparable sales evidence available has been used to support our assessment of value, and is summarised within this report as above. Accordingly, with reference to available recent comparable sales evidence within proximity of the subject, and making due adjustment for variances between properties for factors such as size, condition, access, contour, aspect, view, quality, site improvements, car parking, etc, we consider our assessment to fairly reflect current market levels. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 26 of 37
13 Avonlea Grove, Belmont  53 Dowse Drive, Maungaraki Sale Date   13 June 2015 Price    950,000 Land Area   3313m2 Recorde...
13 Avonlea Grove, Belmont 13 VALUATION 13.1 Summation Land Value $335,000 Main House House Main House $390,000 Other Improvements Driveway Landscaping Decking - Pergola, etc. $25,000 Market Value Excluding Chattels $750,000 Main House Chattels Floor Coverings, Light Fittings, Window Treatments $10,000 Market Value Including Chattels $760,000 Please note that the Value of Improvements and Chattels is a MARKET value, and must NOT be used for Insurance purposes. If you would like a valuation to provide amounts for Insurance please contact us, and we would be happy to assist you. 13.2 Valuation Summary We assess the Market Value of the subject property to be $760,000 (Seven Hundred Sixty Thousand Dollars). This valuation is inclusive of GST (if any) The effective date of this valuation is 08 September 2015 Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 27 of 37
13 Avonlea Grove, Belmont  13 VALUATION 13.1 Summation Land Value   335,000  Main House House Main House  390,000 Other Im...
13 Avonlea Grove, Belmont 14 DISCLAIMER Statement of General Valuation Policies Purpose of Valuation This valuation has been completed for the specific purpose stated in this report. No responsibility is accepted in the event that this report is used for any other purpose. Qualifications We confirm that the valuer who has signed this report holds a current Practising Certificate, and is at least qualified as a Registered Valuer. Professional Indemnity Insurance We certify that Thgink Limited trading as Property InDepth holds current professional indemnity insurance in accordance with the Property Institute of New Zealand . Compliance We certify that this valuation is prepared in accordance with the Australia and New Zealand Valuation and Property Standards 2012 and the International Valuation Standards 2013. We confirm that the statements of fact presented in the report are correct to the best of Valuer's knowledge; the analyses and conclusions are limited only by the reported assumptions and conditions; the Valuer has no interest in the subject property; the valuers fee is not contingent upon any aspect of the report; the valuation was performed in accordance with an ethical code and performance standards; the valuer has satisfied educational requirements; the Valuer has experience in the location and category of property being valued; the Valuer has made a personal inspection of the property; and no-one except those specified in the report, has provided professional assistance in preparing the report. Use of Report This valuation has been provided by Thgink Limited trading as Property InDepth solely for the use of the Client. Thgink Limited does not and shall not assume any responsibility to any person other than the Client for any reason whatsoever including breach of contract, negligence (including negligent misstatement) or wilful act or default of itself or others by reason of or arising out of the provision of this valuation or valuation services. Any person, other than the Client, who uses or relies on this valuation, does so at their own risk Unless otherwise agreed in writing by Property InDepth each valuation stands alone and Property InDepth will not be liable in any circumstance where valuations are aggregated for any purpose whatsoever. Extent of Advice and Service In providing the report the Thgink Limited consultant has exercised the degree of skill, care and diligence normally expected of a competent professional. Structural/Building Survey If you intend to purchase the property or lend money secured on it we recommend that you instruct a suitably qualified professional to survey the property for defects before you proceed further. Whilst in the course of inspection, although due care is taken to note any obvious building and/or other improvement defects, no structural survey has been made. As a consequence, this report has been prepared on the assumption that, except where specifically noted within this report; Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 28 of 37
13 Avonlea Grove, Belmont  14 DISCLAIMER Statement of General Valuation Policies Purpose of Valuation This valuation has b...
13 Avonlea Grove, Belmont the buildings and/or other improvements have been competently designed and built, and are structurally sound. This extends specifically to external water, liquid or moisture; or protection from external water, liquid or moisture entering the building or structure or any materials or components thereof, or effects thereto. the buildings and/or other improvements do not contain any latent or patent defects, such as chemicals, fungus, mould, mildew, yeast, rot or decay, gradual deterioration, micro-organisms, bacteria, protozoa or any similar like forms or any spore, toxin vapour, gas or other emission or organic or inorganic body or substance created, produced by or emanating from such, which could result in: the building and/or other improvements ceasing to be watertight or habitable gradual decay of the building and/or other improvements including the buildings structure the building and/or other improvements comply with the Building Act 2004, the Resource Management Act 1991 and the Building Code contained in the First Schedule to the Building Regulations 1992 (or any amendment or substitution of that code) and any other relevant legislation and territorial authority requirements, including consents and certificates ( including Code Compliance Certificates). We can give no undertakings and disclaim responsibility for the failure of any building or structure to comply with the requirements of the above legislation, or to meet the level of performance, quality, fitness or durability of their intended purposes. This valuation assumes that a Territorial Authority Land Information Memorandum/Project Information Memorandum would not reveal any non-complying features. We can give no guarantees as to outstanding requisitions in respect of the subject property Our valuation therefore assumes there are no problems with the materials and/or construction methods resulting in any adverse effect on the value or saleability of the property. In preparing the valuation, the services have not been tested, and this report does not warrant the condition of any services. It has been assumed that all services including (where applicable) hot and cold water systems, electrical systems, fittings, ventilating systems and other devices, lifts, installations or conveniences as are in the building and/or on the property are in proper working order and functioning for the purposes for which they were designed, and conform to the current building, fire and government regulations and codes. Site Survey We have made no survey of the property and its boundaries and assume no responsibility in connection with such matters. Unless otherwise stated it is assumed that all improvements lie within the title boundaries, the land is stable, and free of undue flood risk. Any sketch, plan or map in this report is included to assist the reader in visualising the property and should not be relied upon as being definitive. This report does not purport to be a geotechnical report, and unless otherwise stated our valuation and report is conditional upon the land being free of any contamination, soil instability or industrial waste problems. Publication Neither the whole nor any part of this valuation report, or any reference to the same, or to the valuation figures contained therein, or to the names or professional affiliation of the Valuers may be included in any published document, circular or statement without written approval from Property InDepth Limited as to the form and context in which it will appear. Information Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 29 of 37
13 Avonlea Grove, Belmont  the buildings and or other improvements have been competently designed and built, and are struc...
13 Avonlea Grove, Belmont Information has generally been obtained from a search of records based on government department or statutory authority records. Where information has been supplied this information is believed to be reliable and accurate but we can accept no responsibility if this should prove to be not so, and we reserve the right to review the valuation if any erroneous information has been provided or if any previously withheld information becomes known to us. Floor areas, where stated, are approximate only. Where Certificates of Title or Leases have not been sighted we reserve the right to reconsider the valuation should the documents indicate matters that may materially affect the value of the property. This valuation has also been prepared on the understanding that no easements, rights of way or encroachments exist by or on the subject property other than those set out in Title details or detailed herein. It is assumed that all rents referred to in this report are being paid in full and when due and payable under the terms and conditions of the relevant leases. Further, it is assumed that all rents referred to in this report represent the rental arrangements stipulated in the relevant leases, to the extent that such rents have not been prepaid, abated, or inflated to reflect extraordinary circumstances. Where the property is Strata Titled, we have assumed that there are no claims, orders or resolutions which may result in an extraordinary levy being charged to the Strata Title Holder. Limitation of liability The liability of the Thgink Limited consultant and/or Property InDepth in respect of all claims for loss, damage or injury arising from breach of any of their obligations in relation to any Valuation completed under the Property InDepth Brand or from any act or omission of the consultant is limited, in each case, to the lesser of: repeating the Valuation; payment of the actual cost of repeating the Valuation; and the cost of the Valuation. The consultant will only be liable to the client, either by contract or in tort, for direct loss or damage suffered by the client as a result of a breach by the consultant of his or her obligations under this agreement. Property InDepth Limited, as the franchisor company, are not liable in anyway for information contained within the report. Property InDepth operates as a national brand with reports being prepared and compiled by individual companies, in this case Thgink Limited trading as Property InDepth. Property InDepth shall not be liable for any direct or indirect loss or damage (including without limitation any form of financial loss (including loss of profits or savings) or for any indirect or consequential loss or damage of any kind), however caused, arising out of or in connection with the Valuation completed under the Property InDepth brand. Every effort will be made to ensure the soundness and accuracy of the opinions, information, and forecasts expressed in the report. While we believe statements in the report are correct, no liability is accepted for any incorrect statement, information or forecast. Neither the Thgink Limited consultant nor Property InDepth shall be considered liable for any loss or damage resulting from any occurrence unless a claim is formally made within six years from completion of services. The Thgink Limited consultant holds a policy of Professional Indemnity Insurance at a satisfactory level and undertakes to take all reasonable endeavours to maintain a similar policy of insurance for six years after completion of the services. Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 30 of 37
13 Avonlea Grove, Belmont  Information has generally been obtained from a search of records based on government department...
13 Avonlea Grove, Belmont 15 SIGN OFF Stuart Knight MPINZ Franchisee, Registered Valuer BBS (VPM) Hons Dip Bus Studs (Finance) Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 31 of 37
13 Avonlea Grove, Belmont  15 SIGN OFF  Stuart Knight MPINZ Franchisee, Registered Valuer BBS  VPM  Hons Dip Bus Studs  Fi...
13 Avonlea Grove, Belmont 16 CERTIFICATE OF TITLE INFORMATION COMPUTER FREEHOLD REGISTER UNDER LAND TRANSFER ACT 1952 Identifier 81956 Land Registration District Wellington 13 August 2003 Date Issued Prior References WN51B/91 WN56D/257 Fee Simple Estate 5840 square metres more or less Area Legal Description Lot 75 Deposited Plan 320681 Proprietors Michael Douglas Sarich, Andrea Maree Sarich and Carey James Rohloff Interests Appurtenant hereto are rights of way and rights to stormwater and sewage drainage, power and gas specified in Easement Certificate B321782.1 - 1.12.1993 at 10.17 am (affects part formerly CT WN44D/770 and WN56D/257) Appurtenant hereto is a right of way and rights to gas, power, water, telecom, and sewage and strormwater drainage specified in Easement Certificate B072498.3 - 2.4.1990 (Affects the part formerly in CT WN36D/278). The easements specified in Easement Certificate B072498.3 are subject to Section 309 (1) (a) Local Government Act 1974 Land Covenant in Transfer B072498.7 - 2.4.1990 and varied B305248.1- 18.8.1993 at 10.42 am (Affects the part formerly in CT WN36D/278) B124021.1 Variation of the conditions of the easement specified in Easement Certificate B072498.3 - 12.10.1990 at 10.26 am Subject to a right of way, electricity, telecommunications, water and gas supply, sewage and water drainage over part marked AY on DP 320681created by Easement Instrument 5691171.14 - 13.8.2003 at 9:00 am The easements created by Easement Instrument 5691171.14 are subject to Section 243 (a) Resource Management Act 1991 8173175.3 Mortgage to ANZ National Bank Limited - 29.5.2009 at 12:47 pm Transaction Id Client Reference Dated 30/09/15 12:37 pm, Page 1 of 6 sknight001 Register Only Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 32 of 37
13 Avonlea Grove, Belmont  16 CERTIFICATE OF TITLE INFORMATION COMPUTER FREEHOLD REGISTER UNDER LAND TRANSFER ACT 1952  Id...
13 Avonlea Grove, Belmont 81956 Identifier Transaction Id Client Reference Dated 30/09/15 12:37 pm, Page 2 of 6 sknight001 Register Only Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 33 of 37
13 Avonlea Grove, Belmont  81956  Identifier  Transaction Id Client Reference  Dated 30 09 15 12 37 pm, Page 2 of 6 sknigh...
13 Avonlea Grove, Belmont 81956 Identifier Transaction Id Client Reference Dated 30/09/15 12:37 pm, Page 3 of 6 sknight001 Register Only Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 34 of 37
13 Avonlea Grove, Belmont  81956  Identifier  Transaction Id Client Reference  Dated 30 09 15 12 37 pm, Page 3 of 6 sknigh...
13 Avonlea Grove, Belmont 81956 Identifier Transaction Id Client Reference Dated 30/09/15 12:37 pm, Page 4 of 6 sknight001 Register Only Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 35 of 37
13 Avonlea Grove, Belmont  81956  Identifier  Transaction Id Client Reference  Dated 30 09 15 12 37 pm, Page 4 of 6 sknigh...
13 Avonlea Grove, Belmont 81956 Identifier Transaction Id Client Reference Dated 30/09/15 12:37 pm, Page 5 of 6 sknight001 Register Only Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 36 of 37
13 Avonlea Grove, Belmont  81956  Identifier  Transaction Id Client Reference  Dated 30 09 15 12 37 pm, Page 5 of 6 sknigh...
13 Avonlea Grove, Belmont 81956 Identifier Transaction Id Client Reference Dated 30/09/15 12:37 pm, Page 6 of 6 sknight001 Register Only Thgink Limited trading as Property Indepth | 0800 INDEPTH (463 378) | info@propertyindepth.co.nz | www.propertyindepth.co.nz 37 of 37
13 Avonlea Grove, Belmont  81956  Identifier  Transaction Id Client Reference  Dated 30 09 15 12 37 pm, Page 6 of 6 sknigh...