How do you obtain accurate and fair property valuation?
In property settlements, couples must appoint a licensed property appraiser to determine the fair market value of their home. They should agree on this appointment and provide comprehensive information to the appraiser.
Take the first step
Agree on and appoint an appraiser and provide them with a joint letter detailing essential property information.
Local Expertise Matters
A licensed and certified appraiser who has strong familiarity with your neighbourhood and local real estate will have better command at conducting comparative analysis.
If in doubt, clarify
Not confident about the result of the valuation? request for a conference with the expert, aimed only at refining the report and not to be oppressive to either party.
One of the toughest decisions a couple must make is to put a value over their home. Most often than not, the partners find it hard to settle onto a common ground agreement with regards to the valuation. Usually in this situation, either one of the couples could value the price relevant to the cost when they built it, but the family law system further looks onto a reasonable knowledge.
To negotiate the property settlement matters such as real estate or business, a need to seek for an expert property appraiser is required by the Australian family law system to determine the house’s fair market value for an unbiased assessment of its worth.
What is the first step?
The couple must first agree upon the idea of appointing someone to put a value on their asset, and finally writing a joint letter to the appraiser demonstrating all the necessary information such as materials and history which are all vital for the valuer to price a property.
The appraiser would then prepare and release a valuation report based on their comparative market analysis and other factors.
For an accurate property valuation during a divorce, ensure you appoint a certified appraiser with local expertise and a solid reputation.
Dispute over a valuation report? Request a conference with the appraiser within 21 days to seek clarification and ensure fair settlement.
What if I did not agree with the valuation report prepared by an appraiser?
All negotiating parties are given the chance to request for a conference with the expert to further clarify the report, usually within 21 days upon its receipt. It is further required that it should be of a writing when the parties wish to ask for report clarification, which should not be oppressive in nature and should only be for the purpose of refining the report.
How can I make sure I am getting the right worth?
Always make sure that you are talking with a licensed and certified appraiser with a reputable background. A good strategy in choosing the right appraiser is someone who is familiar with your neighbourhood and the local real estate to make sure they are conducting a comparative analysis based on a reasonable price range in the location.
