Divorce is a difficult time for all those directly involved and selling a house or family home can be upsetting. Our advice should help make the process flow smoothly.
A property valuation is essential for the divorce process and the financial calculations involved. Indeed, your solicitor will insist on a property valuation. Unfortunately, estate agents valuations have little impact in court and won’t 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 and should be your first port of call. Some estate agents may give you a high valuation, to encourage you to engage them in the sale of your home, but think that this gives some room to lower the value in order to complete the sale.
The price presented 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 end of time that is important. Most couples LOSE MONEY by looking at online web sites, which simply just work on crude HISTORICAL data.
For more information please see the book How to be a Smarter House Buyer or paste the following URL into your browser: https://www.amazon.co.uk/How-be-Smarter-House-Buyer/dp/1527202208
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 worked hard for. Another tip is not to skimp on the valuation-firms that offer a cheap job. These 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 Surveyor’s valuation.
Tips for Property Valuations During Divorce.
- Always use a local surveyor with at least 12 years experience in your area.
- AVOID online valuations.
- Estate agents valuations are not usually accepted in court. Remember the surveyor gets paid whether or not you sell the house – they are not on a commission.
- Ask for a future proof value.
- Don’t include fixtures or fittings.
- Show the valuation to prospective 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 the property.
- Use a local solicitor.
Take Care of Yourself
The emotional impact of a divorce combined with having to sell your home can be difficult. It is always good to seek out support from specialist organisations if things start to feel too much. Here are some places you may like to turn to:
Sometimes, a call to a stranger who understands what you are going through can lift you and help you.