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Property Valuers

When you borrow money from a bank, the chances are, it will want some security for the loan. In other words, you pledge1 to the bank some asset of yours, which becomes the bank’s property if you fail to repay the loan. Often, if it is a big enough loan, the asset will be in the form of land – your house, your flat, or a plot.

Nowadays, banks don’t really get involved in determining what your property is worth, although they need to know whether it is, after all, sufficient ‘security’ to cover the amount of the loan to you. This is where professional property valuers come into it; they are trained, qualified and experienced in judging and assessing all the factors which play a role in the value of your property – and many other kinds of properties.

The Property Valuers Profession Act 2000 is their governing statute. It falls under the authority of the Minister responsible for Public Works, but is administered on a day-to-day basis by the South African Council for the Property Valuers Profession.

A. Registration

  1. No one may practise as a property valuer, professional associated valuer, or candidate valuer2 unless he is registered in that category with the Council.3 It is an offence to contravene this directive.4

  2. Any person whose registration has been cancelled must return his registration certificate to the Registrar (within 30 days of being directed to do so).5 If you fail to comply with this provision, you commit a criminal offence.6 7

B. Council obligations

  1. The Council must, within six months from the close of each financial year or such other period as may be agreed to by the Minister, submit its audited statement and balance sheet, and must also provide a copy to the Council for the built environment.8 It commits an offence by failing to comply with this provision.9

C. Disciplinary hearings

The Council can appoint a disciplinary tribunal to hear and determine charges of improper conduct against any registered person. The tribunal has a wide variety of powers relative to such a hearing.

  1. It is an offence10 for a person who has been subpoenaed:
    • without sufficient cause, to fail to attend the hearing at the time and place specified in the subpoena;11
    • to refuse to be sworn in, or to be affirmed as a witness;12
    • to fail to answer, fully and satisfactorily all questions lawfully put to him;13 and
    • to fail to produce any book, document or object in his possession or custody, or under his control which he has been required to produce.14

  2. A witness who has been subpoenaed must remain in attendance until excused by the chairperson of the disciplinary tribunal from further attendance, and it is an offence not to do so.15

  3. It is an offence to give a false statement on any matter, knowing that answer or statement to be false.16

  4. A person may not prevent another person from complying with a subpoena, or from giving evidence, or from producing a book, document or object which he required to give or produce. It is an offence to do so.17

  1. I do not use this term in its technical legal meaning. ↩

  2. Or any specified categories prescribed by the Council. These are not apparent from the Council’s website – www.sacpvp.co.za. ↩

  3. Section 19(1) and 19(2). ↩

  4. Section 42(1). ↩

  5. Section 24. ↩

  6. Section 42(1). ↩

  7. The same applies to a voluntary association whose recognition by the Council has lapsed. Section 26(8). ↩

  8. Section 15(8). ↩

  9. Section 42(2). ↩

  10. Section 42(1). ↩

  11. Section 32(8)(a)(i). ↩

  12. Section 32(8)(a)(ii). ↩

  13. Section 32(8)(a)(iii). ↩

  14. Section 32(8)(a)(iv). ↩

  15. Section 32(8)(b). ↩

  16. Section 32(8)(e). ↩

  17. Section 32(8)(a)(i). ↩

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