04 Mar Family Law Court Property Valuations – Why Specialist Expertise Matters?
Family law valuations, or matrimonial valuations, typically take place when two parties separate either through divorce, marriage breakdown, or by ending a de facto arrangement.
If you’re going through a separation, you’ll understand how emotionally taxing the process can be. Thankfully, by enlisting a specialist Adelaide property valuer to manage any disputes or disagreements about your property, you can eliminate much of the stress and confusion involved in the proceedings.
Why do I need to appoint a property valuer for Family Law disputes?
Matrimonial property disputes often occur when one party may benefit from a property settlement more so than the other, or when ex-partners cannot agree on how to divide their assets. These disputes are difficult to handle alone.
To help resolve these disagreements, both parties can choose to appoint a single valuer to facilitate the process. Alternatively, either party may appoint an independent valuer to represent them exclusively.
The chosen valuer(s) will act as an independent party in the Family Court, providing an accurate value of all real estate assets included in the dispute. By appointing a specialist property valuer to conduct an independent property valuation, both parties know their assets will be split equitably.
Why should I choose a specialist property valuer?
Property valuers who specialise in Family Law Court Valuations offer unmatched expertise and experience in matrimonial matters. To ensure all information acquired during a valuation is accurate and suitable for use as evidence in court, it’s vital to choose a valuer with a high level of specialist expertise.
Specialist property valuers—such as those at Blanco Property Group—conduct much of their day-to-day work in the Family Law Court Valuation field. These valuers hold detailed, highly specialised knowledge—a benefit that many high-volume, generalist ‘bank valuers’ cannot match.
Some larger valuation firms conduct more than 95% of their work for banks. Many banks maintain tight deadlines, expecting valuers to inspect properties and prepare reports within a single day. These valuers will need to work your Family Law Court Valuation into their busy schedule.
On the other hand, a specialist valuer has the freedom to dedicate their time, energy, and resources to your valuation. When choosing specialist licensed property valuers Adelaide homeowners know they will receive the utmost attention and care.
Can a valuer serve as an expert witness in Family Court?
If both parties cannot negotiate a fair outcome in their property dispute, they may need to go to Family Court.
A valuer may need to act as an expert witness during court proceedings. The judge may cross-examine the valuer and ask them to explain how they reached their conclusions about the property’s value.
Serving as an expert witness is a stressful and complicated task. A specialist property valuer will know to maintain a calm, fair disposition when presenting their evidence, ensuring all parties remain informed. Based on extensive experience and knowledge, our specialist Adelaide property valuers will present their findings with sincerity and confidence.
How are assets valued for divorce settlements?
Valuers will typically use an asset’s current market value (the amount a willing buyer is prepared to pay for the asset) to determine its value in their report. If both parties involved in the divorce agree to the valuation, the courts are unlikely to question the determined value. However, if both parties have not agreed to the valuation, the court may be more cautious about the valuer’s methods.
A qualified, specialist Adelaide property valuer will provide a detailed yet easy to understand report describing how they have calculated the property’s value, leaving minimal room for questioning.
Keep in mind that real estate agents may provide slightly inaccurate figures in their appraisal, reflecting their self-interest in selling your property. Although real estate agents work within the property industry, they are not considered industry experts and cannot assist with court proceedings if matters progress further.