Darwin Property Valuation for Divorce Settlement
When going through a divorce or de facto separation it is common to require a divorce settlement property valuation. Whether you are going through the courts or a simple property transfer, property valuations for separation purposes are a sensitive matter. As such, it is important to obtain an independent current market valuation to ensure a correct value is assigned to the property.
Our Valuers at Territory Valuers are well equipped to deal with such matters. They will handle the divorce settlement property valuation in Darwin with care and integrity, giving you an accurate current market value.
There are two approaches taken when completing a property settlement valuation for separation purposes. This depends on whether the parties are reaching a settlement through mediation or are involved in a process with Family Law Courts.
Property Valuation for Mediation Purposes
This approach will produce a more standard property valuation report. While it is less extensive than the long form report option, a valuation provided for mediation purposes still provides in depth information on what has determined the value of the property.
A residential valuation for mediation purposes will include:
- Information on all the features of the property- land, building interior and exterior, improvements, measurements and zoning
- Risk analysis of both market risks and property risk factors, such as potential environmental issues
- Sales evidence detailing current market condition, which includes recent sales in the surrounding area which are comparable to the property
- An assessment of the market value at time of valuation
Property Valuation for Divorce Settlement Darwin
In cases where a valuation is required for Family Law Court purposes, it will require a specific approach and a long form valuation report. This contains additional information for legal purposes and is prepared by the Valuer in a manner that could be presented to court if they are required as an expert witness. Because of this, there are further details and legal requirements that are included in this type of marriage or de facto separation settlement valuation.
A valuation prepared for Family Law Court purposes will include the same information as a valuation for mediation purposes, as well as:
- Further analysis of land and building details, including a breakdown of improvements, fixtures, site description, location information and town planning.
- Expanded description of risk analysis and environmental considerations.
- Thorough assessment of current market conditions, and further valuation rationale.
While all property valuation reports provided by our expert property Valuers at Territory Valuers are legal documents and comply with professional requirements, valuations prepared for Family Court are purpose specific. They comply with the particular expectations in order to be presented in a court setting as required.
Whatever your situation that requires you to get a separation valuation, our property Valuers have extensive experience and are able to provide you with accurate and fair valuations, to enable you to have well-informed negotiations.
If you require a valuation for your separation, contact the team today on (08) 7918 0858 or complete an online enquiry form and we will reach out to you as soon as we can.