Applies to all Desktop Report Types
Effective 17 June 2026
Lender’s Customer Disclaimer
- Herron Todd White (HTW) does not authorise the disclosure of any Desktop Report by the lender as referred to in the Report (the Lender) to any unauthorised third party other than to their customer, borrower or guarantor (the Lender’s Customer) who:
(a) directly paid for or reimbursed the lender specifically for the Desktop Report; and
(b) has acknowledged and agreed in writing, prior to receiving a copy of the Desktop Report, that HTW and the valuer has no liability to the Lender’s Customer howsoever arising, including as a result of negligence.
Any use by the Lender’s Customer is subject to the following warnings and terms of use.
- The Lender instructed HTW to undertake a Desktop Assessment for the subject property and prepare a Desktop Report for the Lender to rely upon when assessing the subject property’s suitability for first mortgage security purposes.
- HTW prepared the Desktop Report in accordance with the Lender’s instructions (Instructions). When preparing the Desktop Report and providing it to the Lender, HTW acted solely and exclusively for the Lender and owed no duty to advise the Lender’s Customer or to consider their circumstances or position.
- HTW is aware that the Lender may be subject to the Banking Code of Practice (Code) and is disclosing the Desktop Report to its customer to meet its obligations under the Code. Where the Desktop Report is disclosed to the Lender’s Customer under the Code, or any other disclosure of the Desktop Report, a copy of the Instructions should also have been provided to the Lender’s Customer. The Lender’s Customer must contact the Lender if they have not been provided with a copy of the Instructions. The Desktop Report should be read in conjunction with the Instructions.
- HTW has not assumed any duty to advise the Lender’s Customer or to consider the Lender’s Customer’s circumstances or position by being aware that the Lender must meet its obligations under the Code and provide the Lender’s Customer with a copy of the Desktop Report.
- HTW has no liability to the Lender’s Customer, howsoever arising at law, including as a result of negligence. HTW did not prepare the Desktop Report for the Lender’s Customer and therefore makes no representation nor assumes responsibility at all to the Lender’s Customer.
- The Lender’s Customer should not rely in any way on the Desktop Report as its sole purpose is for use by the Lender in assessing the subject property for mortgage security purposes in the context of the Lender’s Customer’s loan application or extension. Specifically, the Lender’s Customer should not rely upon the Desktop Report for the purpose of:
- deciding whether or not to enter into a transaction or alter their financial position; or
- seeking finance from a third party, and should seek their own advice and valuation in such circumstances.
- The contents of the Desktop Report are confidential and HTW does not authorise the disclosure of the Desktop Report by the Lender’s Customer to any third party.
- The Lender’s Customer should take note of the date of assessment of the subject property and be aware that the Desktop Report is current at the date of assessment only. The indicative assessment of value of the property may change significantly over a short period of time.
- The Lender’s Customer should direct any questions relating to the Desktop Report to the Lender. HTW is unable to speak to the Lender’s Customer directly due to privacy and confidentiality obligations owed to the Lender.
Liability limited by a scheme approved under Professional Standards Legislation.
Desktop Indicative Assessment
Desktop Reports include an assessment that provides an indicative assessment of value of the subject property, based on information obtained and is not a representation as to the Market Value of the subject property as defined in the International Valuation Standards and adopted by the Australian Property Institute (API).
The client should be aware that the desktop process carries with it risks which entail a degree of likely variation greater than would be expected to be produced by a valuation that came about as a result of a physical inspection. The methodology adopted in performing a desktop assessment carry with it risks. These risks include:
- The risk of inaccuracy of information contained in the desktop assessment as compared to a valuation.
- The fact that the valuer cannot verify the accuracy of information contained in a desktop assessment as would be provided in a valuation.
- The fact that a desktop assessment will have significant limitations when compared to valuations, including a greater degree of variation in the resulting indicative assessment.
- A physical inspection of the improvements has not been undertaken, nor has the valuer completed a detailed structural survey, or tested any of the services. The valuer is therefore unable to state that these are free from defect, rot or infestation and has assumed that the improvements are reasonably structurally sound considering their age.
Unless stated to the contrary, the Valuer has relied upon the information provided by the client in completing the desktop assessment and makes no warranty as to the accuracy of the information that has been provided by third parties
A desktop assessment may only be relied upon by the Lender identified in the report for first mortgage security purposes and it should not be reproduced in whole or in part or relied upon for any other purpose or by any party, other than a nominated mortgage insurer, without express written authority.
The client agrees that it will have no cause of action against Herron Todd White and its servants and agents, whether in contract, tort or otherwise, by reason only that the client suffered loss or damage by relying upon a desktop assessment.
The client acknowledges that it accepts that a desktop assessment report is not, and will not, be construed to be a valuation report (which is based on an inspection of the subject property) as defined in the Australian Property Institute Rules of Professional Conduct.
The client further agrees that it will indemnify Herron Todd White and its servants and agents against any claim for loss or damage by a third party invited or permitted by the lender/client to rely upon a desktop assessment, whether arising in contract, tort or otherwise and arising out of or in conjunction with reliance by that third party on a desktop assessment.
Third Party Information
In performing a desktop assessment, the Valuer has relied upon third-party data and images. The Valuer relies on data and imagery provided by (or obtained from) third parties in preparing desktop reports and in determining the Indicative Assessment of Value. While the Valuer has taken reasonable steps to assess the accuracy, completeness and suitability of any third party information relied on, the Valuer cannot warrant its accuracy or completeness. The Valuer will not be liable for any loss that may arise as a consequence of any third party information being inaccurate, incorrect or misleading.
HTW Entity
The entity that has provided the desktop report is solely the entity named on the report (with its associated ACN/ABN). No other entity forming part of or associated with the Herron Todd White Group is liable. From time to time, the associated invoice for services may be issued by another Herron Todd White entity other than the service-providing entity named on the report. If this occurs, no professional liability is extended to the entity named on the invoice.
Market Movement and Date of Assessment
Desktop assessments are current as at the date of assessment only. The indicative value assessed may change significantly and unexpectedly over a relatively short period of time (including as a result of general market movements and factors specific to the particular property). HTW does not accept responsibility or liability for losses arising from such subsequent changes in value. Without limiting the generality of the above comment, HTW does not assume responsibility or accept liability where the desktop assessment is relied upon after the expiration of 90 days from the date of the assessment or such earlier date if the lender becomes aware of any factors that have an effect on the assessment. However, it should be recognised that the 90 day reliance period does not guarantee the indicative assessment for that period; it always remains an indicative assessment as at the date of assessment only”.
Reliance
Desktop Reports are prepared for the private and confidential use by the party to whom it is addressed. Desktop Reports are for the use of, and may be relied upon. only by the party/parties to whom it is addressed for first mortgage security purposes. No other parties are entitled to use or rely upon it and Herron Todd White does not assume any liability or responsibility to any other party who so relies upon a Desktop Report without the express written authority of Herron Todd White. The whole Report must be read and any failure to do so will not constitute reliance by such party asserting reliance on the Report. Neither the whole nor any part of any Desktop Report or any reference thereto may be included in any published documents, circular or statement, nor published in part or full in any way, without the written approval from Herron Todd White including the form and context in which it may appear.
Policies and Procedures
Desktop Reports are prepared in accordance with the relevant Lender Policies and Procedures applicable at the assessment date and are performed in compliance with the API Rules of Professional Conduct by a Valuer who has gained the appropriate local knowledge and experience from undertaking valuations of the same or similar asset class in the relevant market.
GST
The indicative assessment of value in Desktop Reports are assessed on the basis that GST is not applicable. Desktop Reports are prepared on the assumption that the subject property does not constitute a ‘new residential premises’ as defined under ATO Ruling GSTR 2003/3. Further it is assumed that the subject property will transact as a residential property between parties not registered (and not required to be registered) for GST. The indicative assessment of value reflects a market transaction to which GST is not applicable.
Conflict of Interest
Neither the valuer, nor to the best of their knowledge, any member of this firm, has any conflict of interest, or direct, indirect or financial interest in relation to the subject property that is not disclosed in the Desktop Report.
ESG
Where environmental, social and governance (ESG) factors are identified by the Valuer, and noted in a Desktop Report, they have been considered as part of the desktop process. Market transactions and prices include the market participants’ perceptions and appraisal of both positive and negative impacts of ESG factors.
The indicative assessment of value in a Desktop Report is based on the Valuer’s analysis of market transactions and market prices, unless otherwise identified and explained separately in the report, and is presumed to include the market participants’ consideration of ESG factors on prices. The Valuer is unaware of any evidence that accurately measures or quantifies ESG factors separately from the negotiated price.
In preparing a Desktop Report, the Valuer has had regard to any significant reasonably observable or publicly known ESG factors as referred to in the report.
Unless stated otherwise, the Valuer has not identified any separately quantifiable ESG factors that significantly impact the indicative assessmnet of value of the subject property.
The Valuer is not an expert in ESG matters and as such any observations or comments in relation to ESG are only provided in the Valuer’s capacity as a property valuer.
If the client, and any other agreed reliant party(ies) require more detailed advice on ESG matters raised in the report, it is recommended that they seek and obtain guidance, specific advice and/or opinion, or other appropriate specialist input, from specialists who have expertise and qualifications in ESG, prior to any reliance on the report.
Assessment Methodology
The indicative value in desktop reports are assessed by the comparable transactions method. Comparative sales used in the report are considered the most relevant sales based on research, both in terms of physical comparability to the subject property and allowing for market changes between comparable sales and assessment date. In many cases, a HTW Valuer has not physically inspected the interior of the sales evidence quoted and have relied on the details of the sales evidence as recorded in available property sales databases or third party sources. (See Third Party Information disclaimer).
Definitions
‘desktop’ means an evidence-based desktop process for assessing the value of a tangible asset as at a specified date but does not include a physical inspection (of any kind) of the asset by the Valuer.
‘desktop process’ means an evidence-based process which results in a desktop report containing an indicative value of a tangible asset as at a specified date, based on the Valuers knowledge, research, experience and expertise together with “relevant data and inputs” (information) relating to the asset provided by other parties or sourced by the Valuer, but does not include a physical inspection (of any kind) of the asset by the Valuer.
‘desktop report’ means a report that has been prepared by a Valuer following a desktop process.
‘indicative value’ means a qualified opinion by a Valuer, of the value of a tangible asset where the scope of work is limited or restricted such that the Valuer does not undertake all the necessary enquiries, investigations, procedures and processes to fully inform the Valuer’s reasoning and analysis that is a prerequisite for a valuation.
As an indicative assessment of value is made without the benefit of a physical inspection of the subject property by the valuer, the indicative assessment is not and should not be construed to represent the valuers opinion as to the Market Value of the subject property as defined by the International Valuation Standards Council (IVSC) and adopted by the Australian Property Institute (API).
