Melbourne Property Valuation specialise in the valuation of residential, commercial and industrial properties for family law valuations or divorce and property settlement purposes.
We conduct family law valuations directly for individual clients, on behalf of solicitors, or as recognised experts jointly appointed by both parties as required by a court oras part of a private agreement.
We are leaders in the specialised field of Melbourne family law and divorce property valuations, and have been providing family law valuations for over 15 years.
We conduct valuations all across Melbourne and the Mornington Peninsula.
It is important that valuers undertaking valuations for a property settlement not only have the experience necessary to actually undertake the valuation, but also the knowledge of what is required by a court, and and understanding of how the valuation report may be used and the format it is required to be presented in.
All our valuers have the extensive experience needed, and provide accurate high quality reports in a format designed to be used as part of private negotiations, in a mediation process, or in court as evidence if needed.
As a client is it important to understand that a real estate agents opinion of the value of a property is not considered to be acceptable for any legal purpose, and cannot be used as evidence in any legal proceedings.
Divorce property valuations are a specialised area, and we provide a specifically formatted report that has proven to be successful for clients when a properties value needs to be determined as part of a divorce of family law settlement.
We can conduct valuations of properties at the current date, or on a retrospective basis at a particular time in the past, or both. It is important to confirm with the valuer the date/s of valuation and the condition of the property as at any retrospective valuation dates.
We also have extensive experience conducting family law valuations where physical access to the property is not possible, either as it has been sold or the current occupier has denied access.
Going through a divorce or separation is understandably a stressful situation, and we take the time to provide high quality advice and reports in a sensitive manner.
When undertaking a family law valuation or property valuation for divorce the process is similar to any other valutaion with the valuer first confirming the property to be valued, the date/s of valuation and then undertaking an inspection. After the inspection the valuer will review sales evidence of similar properties in the area that have been sold recently, consider all of the relevant aspects that affect the value of the subject property, the current market conditions and any other relevant factors. After this they will create a detailed written report that sets out all of the above.
The family law valuation reports are used in mediation between separating parties directly, between solicitors, in mediation sessions, or submitted directly to court as evidence. The valuers are aware of their obligations to the court in regards to family law valuations, and it is always noted to clients that a valuers role is to be completely independent, and not an advocate for a client.
In many instances when engaging a valuer for a divorce of family law valuations both parties, or two solicitors will jointly engage the valuer as single expert witness. This is the preferred method to undertake a divorce valuation if possible, and it stops the parties each engaging a separate valuer to hopefully provide a valuation report that may be more suitable to their position in the proceedings.
If there are two separate property valuations for a family law property settlement and an agreement cannot be reached between the parties in regards to the properties value, the usual process is for the two valuers to conduct a mediation session where both reports are analysed and if possible an agreement between the valuers is reached as to the market value of the property.
If the mediation session between the valuers is not successful then it may be necessary for both valuers to appear in court and give evidence regarding their valuations, and be able for cross examination from the other sides legal team.
We will sign affidavits as part of the valuation process for property settlements, and also have extensive experience in court ordered mediation sessions or actual court appearances to support our valuation reports.
We provide property valuation reports on a weekly basis for use in the local Magistrates Court, the Federal Magistrates Court and on a regular basis for the County and Supreme Courts.
Our valuers have the experience also of having presented evidence in court for family law and other expert witness property valuation matters, and prepare all family law property valuation reports to a standard where they are prepared to stand up in court and provide evidence relating to their report and opinions contained in it.
We are also able to independently review valuation reports provided to you by other valuers, and act as shadow valuation experts if required.
It is unfortunately a common scenario to see poorly researched and presented family valuation reports where the work has not been prepared to the expected standard, and the property valuers opinion of value is questioned. It is our experience that in some cases an independent second opinion is warranted, and that is a significant number of cases the original valuation report and its findings considered to be inaccurate, and an updated amount agreed upon by the parties involved.
All valuers understand and abide by all of the requirements of the Court under the Family Law Rules 2004 and the Federal Circuit Court of Australia Rules.
If you have any questions in regards to a family law valuation, or valuation of your property for divorce feel free to contact us for expert advice.
The following link to the Family Law Court of Melbourne may be of interest – http://www.familycourt.gov.au/wps/wcm/connect/fcoaweb/contact-us/locations/vic/melbourne