Family Law Valuations for Divorce and Separation
What are Family Law Valuations for Divorce and Separation?
Often in cases of family law or a property settlement between two parties, a property valuation will be required.
With an independent valuation of any property assets that are being divided, you’ll be able to make sure that you’re getting a fair amount in any settlement.
Licensed property valuers are the only recognised experts if you are involved in mediation or court, and our reports are used regularly by clients as expert evidence in such processes. We provide reports direct to client/s, or as instructed by solicitors.
Insight Properties valuers specialise in family law and divorce valuations, and this niche area actually comprises the majority of our work.
We can conduct a family law valuation under joint instructions either from private clients or solicitors, or under instructions by a single party.
Valuations can be conducted retrospectively if required, or where access is denied or not possible for a variety of reasons.
Insight Properties valuers also conduct shadow expert witness valuations where a client is not happy with another valuation they have received, and request an independent review of that valuation and in most cases a check valuation to provide a second opinion.
It should be noted by clients that a real estate agents advice is not considered to be accurate or independent by the courts or mediation process (and most fair minded people as well), and as such engaging a property valuer is vital to ensure you receive the best advise and outcome in regards to your property assets.
That’s where we come in.
Why Use Insight Property in Family Law?
First and foremost, we’re an entirely independent valuer – so we’ve got no involvement here besides providing all sides with an accurate, even-handed assessment of a property’s value.
You’ll be getting your valuation from a licensed, experienced, and qualified specialist. This professional will be your point of contact for any enquiries you might need to make, and will act as your got-to expert when it comes to answering any court questions regarding your valuation from us or any opposing valuation that the other party might provide.
By using us you’ll get:
- A valuation provided by an industry veteran with a minimum of fifteen years experience
- Extensive experience in family law valuations and court appearances as expert witnesses
- A detailed written valuation report designed to be used in mediation or court
- Comprehensive support and advice throughout your case’s time in court
- A discreet and personalised service that you can rely on
Things to Remember About Family Law Valuations
Make things easy for yourself, with someone who knows the law.
As well as providing you with an accurate assessment, we’ve got the expertise to critique any opposing valuations offered by the other party. This advice will always be aimed at driving towards a fair and completely dispassionate assessment of the value of the property or properties in question.
Having successfully worked in similar cases for the past ten years, we’re fully conversant with all laws and regulations, and know how to use them to make sure you get a fair settlement.
Get Your Assessment Now Quickly and Easily
Call and discuss your family law valuation requirements with an expert property valuer, all of which have a minimum of fifteen years experience in this specialised field. Call us today on 1300 134 505, or contact us online and send us your information this way. We’ll always endeavour to get back to you within the hour.
Our team is exclusively made up of Certified Practicing Valuers. Count on getting the knowledge and support you need to get a fair deal.
Family Law Valuations Can Save You Money
Case study 1 – Real estate agent valuation for settlement.
In this case study our family law client saved $100,000 approx
A client engaged our services directly to provide them with a valuation report of their property in Frankston to be used in a divorce settlement with their partner. There were no solicitors involved in the negotiations, and the recently divorced couple were trying to come to an amicable property settlement between themselves.
The ex husband engaged three local real estate agent’s to inspect the property, and they each provided him with written market appraisals. These were shown to our client, and it was suggested that the figures in the appraisals be used as a basis to agree on the value of the property.
Our client had doubts about the agent’s advice, and instructed Insight Property Valuations to undertake an independent valuation of the property for property settlement purposes.
Our valuation figure was approximately $100,000 less than the average of the estate agent’s appraisal in this case. Speaking with one of the agent’s who provided and appraisal whilst undertaking the valuation, they agreed that the figure they provided was a very best case scenario, and designed to help them get a listing.
This is very common, and the reason while it is essential that you engage a professional and completely independent party to assess the value of your property.
Family law property valuations are a specialised field, and the local real estate agent’s have only one real reason to provide you with an appraisal. They are hoping for a listing.
In this case, our client used our valuation report to successfully negotiate a settlement based on our assessment. Both parties were ultimately happy with the outcome, with the husband agreeing that the real estate agent’s opinions were not realistic.
Family law valuers are used by private clients, as in the above case study, and also under direct instruction from solicitors. A property valuation for a divorce settlement is essential to ensure you receive a fair outcome, and the fee for a valuation of your property is a small price to pay to ensure you receive a fair outcome in a property settlement.
Case study 2 – Previous valuation $200,000 less than market value
Our client (a solicitor) approached Insight Property Valuations to conduct a family law valuation on a residential property, and to review a previous property settlement valuation conducted by another valuation firm. The initial family law property valuer provided the report under joint instructions from both parties solicitors, and it was to be used as expert witness evidence in the Federal Magistrates Court.
The property in question was a residential dwelling in Mount Waverley, comprising a 1960 era home in original condition on an average sized allotment. The initial valuation report valued the property at an amount $300,000 less than most of the recent surrounding sales evidence, and also three market appraisals by local real estate agents. A single sale noted in the report at a significantly lower amount than all of the others was used as justification for the valuation figure.
In court proceedings, the valuation figure was queried, and as such we were instructed by one of the parties and their solicitor to review the initial family law valuation and provide a second opinion for use as expert evidence in court.
While undertaking our valuation of the property, it was found during investigation of the sales evidence that the single sale sighted in the original report was actually between related parties, and that it was an off market transaction between two family members, rather than a genuine sale on the open market.
Our valuation figure reflected the market evidence, and was $250,000 higher than the original valuation amount provided by the family law valuer. This figure was successfully used to negotiate a property settlement based on our valuation assessment.
Family law valuers need to have significant property valuation experience, understand their role in the legal process, and what is required by the courts for divorce settlements. Property valuations for divorce settlement are Insight Properties speciality, and we have undertaken hundreds of them over fifteen years, so have the experience to ensure you receive the best possible outcome.