Property Valuations for Separation and Defacto
A property valuation is imperative when going through a separation or de facto split. At Vals TAS we understand going through a separation is a difficult time for our clients and one of the major concerns during this difficult time, is how are the assets going to get divided fairly. A property, in a lot of cases, is one of the biggest assets which needs to be split fairly. The only way to do this is to obtain an independent, certified property separation and defacto valuer to investigate the properties true market value. Then there will be an accurate value which makes it easier to divide evenly.
How can a separation and defacto valuation help?
A property valuer will investigate over 200 variables of the property, coupled with an extensive analysis of the local property market, to determine the properties fair market value. An separation and defacto independent property valuer conducts the valuation with the up most professionalism and the final certified valuation report will not be subject to any form of bias. The overall value is based on factual evidence and the property market at that time.
A separation and defacto property valuation can be used if a client is undergoing negotiations through mediation, or via the Family Law Court. These each have different requirements, if you are unsure on what requirements you need your separation and defacto valuation report to meet, contact our team of experts who will be happy to walk you through it.
What is the difference between a long form and short form property separation and defacto valuation report?
Both long form and short form valuations provide the accurate value of the property, however they are two different reports. Which report you need differs on whether the settlement is being reached through mediation with a solicitor, or through Family Law Court proceedings.
A long form separation and defacto valuation report is used when a settlement is being reached through the Family Law Courts. This can be used in a few circumstances, including separation purposes, deceased estate purposes and other related party disputes. A long form valuation report includes a description on the properties condition as well as a breakdown of risk factors. A long form report exclusively contains more in depth information to support the case and a summary of the valuers credentials and experience. This type of report complies will all legal standards and the independent property valuer is qualified to stand as a expert witness in settlement cases where this is required.
A short form separation and defacto valuation report is required in cases of mediation, where the legislative and legal requirements of the longform report are not necessary. It is not as extensive as a long form valuation as the information for legal purposes is not needed. Saying that, a short form valuation is still a certified legal document. A short form valuation is more compressed which is reflected in the price difference.
We understand that having a separation and defacto property valuation for settlement purposes is potentially a difficult time for our clients. That is why all of our specialised valuers approach this with compassion and professionalism to produce clear and concise property valuations in a timely manner. If you would like a property valuation for a separation settlement purpose, contact our team of experts on (03) 6108 2178 and we would be happy to assist.