Divorce - Selling and valuation of the marital home “Our Blog of sensible tips”
Divorce is a difficult time for all those directly involved. Our advice should make the process flow smoothly. The property valuation is essential for the process. Your solicitor will insist on a property valuation. Unfortunately estate agents valuations have little impact in court and wont stand up. A Chartered Surveyor must carry out a property valuation for divorces purposes. Your local Chartered Surveyor knows the area and indeed local property prices too.
The price must be current and in our opinion should have an element of future proof in it. What we mean by this is that the valuation must reflect the true value at the point of exchange. If the process lasts for six months it is the value at the time. Most couples LOSE MONEY by looking at on line web sites, which simply just work on crude HISTORICAL data. (For more information see How to be a smarter house buyer-)
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IT IS IMPORTANT TO MAKE SURE THAT THE VALUE IS ACCURATE-BECAUSE this will have an impact on the other assets involved in the divorce settlement. The property valuation during divorce is of the utmost importance after all its what essentially you both work hard for. Another tip is not to skimp on the valuation-firms that offer a cheap job should be avoided. This is a quality document that needs to PROVE the correct value for a divorce valuation. Usually if the house is to be sold the selling agent will use the Chartered surveyors valuation.
Tips for Property Valuations during divorce.
- Always use a local surveyor with at least 12 years experience in your area
- AVOID on line valuations
- Estate agents valuations are not usually accepted in court remember the surveyor gets paid weather or not you sell the house they are not on commission
- Ask for a future proof value
- Don't include fixtures or fittings
- Show the valuation to perspective buyers as they often think divorce sales involve desperate sellers
- Only take property advice from a qualified professional during the divorce process. Avoid advice from friends and family about property
- Use a local solicitor