SMSF Clients

Terms & Conditions

Last updated 20 July 2021

These terms and conditions apply to all services (Services) that Acumentis Group Limited ABN 50 102 320 329 of L7, 283 Clarence Street, Sydney NSW 2000, its subsidiaries, related bodies corporate, licensees, franchisees and affiliates operating under the Acumentis brand (Acumentis) performs or provides to self managed super fund clients and/or their trustees (you), unless you and Acumentis sign a written agreement that expressly excludes or override these terms and conditions.

Liability limited by a scheme approved under Professional Standards Legislation

Qualifications & Disclaimers:

This advice is given in accordance with the terms and conditions provided here which you have declared to have read and agree to. 

This Restricted Property Assessment is for the use only of the party to whom it is addressed and for superannuation fund reporting purposes and for no other purposes including but not limited to, mortgage security purposes. No responsibility is accepted to any third party who may use or rely on the whole or any part of the content of this Assessment.

This assessment is current as at the date of the assessment only. The assessment herein may change significantly and unexpectedly over a relatively short period (including as a result of general market movements or factors specific to the particular property). We do not accept liability for losses arising from such subsequent changes. Without limiting the generality of the above comment, we do not assume any responsibility or accept any liability where this assessment is relied upon after the expiration of three (3) months from the date of the assessment, or such earlier date if you become aware of any factors that have any effect on the assessment.

Concerns over the Coronavirus (COVID-19) global pandemic has recently resulted in sharp falls on global and local stock markets. Travel bans, quarantine measures and supply chain interruptions are impacting global and local economies with many governments announcing economic stimulus measures. As at the date of assessment, whilst there appears to be a general softening of buyer and tenant demand for property in this locality, obvious negative impacts on the local property market are difficult to quantify at this stage, however these may emerge over time. Any deterioration in the Australian economy may flow to the local economy and could have a negative impact on the subject property. This current global issue remains a fluid situation with updates being provided on a daily basis by governments.

We have been specifically requested to conduct a Restricted Assessment and the reliant party is fully aware that we have not physically inspected the subject property. The reliant party agrees to accept this assessment having regard to the risks inherent in relying upon an assessment which does not have the benefit of a comprehensive inspection. In providing this assessment we have relied on specific documents and information provided by the client.

Accordingly, but subject to compliance by the Valuer with the accepted requirements of a Restricted Assessment, any supporting documentation and the stated instructions of the reliant party, the reliant party agrees that it will have no cause of action against the Valuer whether in tort or otherwise by reason only that the client suffered loss or damage by relying upon a Restricted Assessment.

Furthermore, the reliant party acknowledges that it accepts that a Restricted Assessment is not and will not be construed to be a valuation in the same meaning as a valuation conducted in accordance with the General Concepts, Principles and Definitions detailed in the standards promulgated by the Australian Property Institute, which is based on a physical inspection of the subject property.

Unless stated otherwise within the report, no Asbestos Materials Report has been provided, nor are we aware of the presence of Aluminium Composite Panels. Should any such matters be known or discovered, no reliance should be placed on the assessment of value unless Acumentis has been advised of these matters and has confirmed that the assessment is not affected. Acumentis has not physically inspected enclosed cavities or air-conditioning plant and equipment and this assessment assumes these areas do not include asbestos based materials.

Unless stated otherwise in the report, no soil tests or environmental studies have been made available. Therefore, it should be noted that the assessment is subject to there being no surface or sub-surface soil problems including instability, toxic or hazardous wastes, toxic mould, asbestos or building material hazards in or on the property that would adversely affect its existing or potential use or reduce its marketability. Should any problems be known or arise, then the assessment should be referred to Acumentis for review as Acumentis deems appropriate.

The reliant party client acknowledges and recognises that Acumentis are not an expert in identifying environmental hazards and compliance requirements affecting properties.

Flooding information noted has been obtained from the relevant authority. This information has been relied upon and no responsibility is accepted for the accuracy of the flooding information provided. Should the information prove incorrect in any material respect, the assessment should be returned to Acumentis for comment.

Unless stated in this report, this assessment has assumed that the improvements to the site comply with all statutory requirements with respect to health, building, town planning and fire safety regulations and that all appropriate approvals have been obtained from the relevant authorities. This assessment also assumes that all improvements on site are constructed in accordance with the Building Codes of Australia and that all materials used comply with relevant Australian Standards. Further, our report is made on the basis that all improvements are in good condition, unless otherwise specifically noted.

Should there be any variation to the lease details as summarised in the report, Acumentis reserves the right to review the assessment.

We have searched the publicly available records for the relevant zoning and/or designation for the information noted above. We advise however, that unless otherwise stated, a formal search with the appropriate Local Authority has not been carried out or obtained.

Unless stated in this report a current site survey has not been sighted. Any comments given in relation to the property are not given in the capacity as an expert, however, are based on the inspection of the property and review of title plan. The assessment is made on the basis that there are no encroachments (unless otherwise noted) by or upon the property. If encroachments are noted by a site survey, Acumentis should be consulted to asses any impact on the stated assessment.

If a strata titled please note that no search of the owner’s corporation/Strata Company’s/body corporate records has been undertaken. This assessment is conditional upon there being no outstanding financial liabilities associated with the subject lot and that there are no notable special levies proposed or agreed for the strata scheme. Should confirmation be required, a formal search of the owner’s corporation or body corporate records should be obtained.

If strata title, whilst a copy of the Strata Plan has been obtained and reviewed, unless otherwise stated in the report, the interest recorded on the Common Property has not been investigated. This assessment assumes interests registered on the Common Property, including By-Laws, do not inhibit utility or value of the subject unit.

Below is applicable for Rural & Agribusiness clients only:

Unless stated otherwise with this report, we have not been provided with any information relating to any current or proposed Native Title claim in relation to the subject property. This valuation is undertaken on an unencumbered fee simple basis such that the subject property is assumed to be unaffected by Native Title. If this assumption is found to be incorrect, the valuation must be returned to Acumentis for review and potential amendment.