How to read an auction property appraisal
The appraisal is one of the most important documents for understanding what you are actually evaluating. Read it in full together with the sale notice and any updates.
Identification and size
Check address, floor, appurtenances, area, boundaries, cadastral data and the property right being sold. Make sure the description matches the asset you think you are evaluating.
Occupancy status
The presence of the debtor, a tenant or other occupiers can affect timing and next steps. Read the appraiser's findings carefully and check for subsequent updates.
Planning, cadastral data and discrepancies
Look for sections on building permits, compliance, possible regularisation and discrepancies. An issue does not automatically make the purchase unattractive, but it must be understood and costed before deciding.
Costs, restrictions and works
Note condominium charges, restrictions, easements, maintenance condition and stated works. These factors can change the real cost of the deal far more than the starting price alone.