Property Settlement Valuations
Property settlement occurs in a variety of different scenarios including when you purchase a property, when you sell a property, when the property is transferred between parties after the passing of a family member or when a couple separates and the assets need to be divided. A property settlement is an agreement between parties as to how the assets and liabilities should be divided.
The first step in the property settlement process is to contact NT Valuers and get the property valued and find out what it is worth. Generally if the matter of how to divide the assets cannot be agreed upon the matter will go to court where a magistrate will take evidence from both parties and then reach a conclusion that is fair for both parties. Typically property is purchased by two or more parties due to its high cost. In most cases, assets will be divided between two parties after a separation but before the separation can occur a valuation is necessary to ascertain a fair and equitable division.
A property valuation from NT Valuers gives you and your former spouse certainty of the property’s value and assists the courts with assessing how the assets should be split and reduces the chances that there will be a dispute later on.
The property settlement valuation should contain information related to the capital gains or capital losses incurred on the property. It should also include the current market value and comprehensive information about the property such as the size and condition, the overall number of rooms, the number of bedrooms, the number of bathrooms, any renovations that have taken place and the renovation and investment potential.
The current market value is an estimate of the price that the property could be sold for in a free and open market between two willing and informed parties without time pressure or desperation to sell.
Why choose NT Valuers?
NT Valuers is proud to be a registered member of the Australian Property Institute (API), the premier industry body that sets the benchmark for valuation standards and supports property training and development programs. We actively encourage our team members to engage in Continuing Professional Development (CPD) programs, ensuring they remain at the forefront of modern valuation techniques and industry standards. This commitment to ongoing learning, alongside their AVI or RICS qualifications, guarantees that our clients receive service that is both current and of the highest quality.
For an obligation free valuation quote give our friendly team a call on (08) 8911 1505.