At Brisbane Property Valuers we provide family law court and mediation property valuations, covering the entire metropolitan area. We act for a number of solicitors and law firms who regularly use our services, and private clients.
We are always asked by private clients how to best settle de-facto and marriage breakdown issues relating to the division of property assets. Assuming the settlement process has not escalated to a point where lawyers are required and the parties are on speaking terms, we always recommend getting each party instructed a Certified Practising Brisbane Property Valuer, qualified by the Australian Property Institute (API), to carry out an independent assessment of the subject property. The reason we suggest each party get their own independent property valuation is to prevent any suggestion either party influenced the property valuation in any way. Once each party has the property valuation report, we ask that they sit down together with both reports in front of them, and discuss the values. Assuming the registered property valuers do their job properly, we should be within 5% of each other, which makes the mediation process a lot easier. You can decide to adopt the midpoint of the two property valuations (assuming they are different), the lower of the two valuations, or the higher. This is entirely up to each party however, it is not a time to be greedy, as you are both completing an important chapter in your lives and settling any dispute quickly is always a wise move.
Please note, this is general advice only, based on over 150+ years of combined experience of assisting couples going through mediation and family law court settlements and does not constitute legal advice.
To give you an opposing view of how things can turn “pear shaped”, we have been involved in a family law court dispute that have lasted 15 years, with each party unable to move on with their lives, costing each party hundreds of thousands and possibly millions (after taking into account the upwards momentum of the property market). In this situation, the only winners are the Lawyers, with both parties to the proceedings being the losers. We sincerely hope this doesn’t happen to you.
Should you wish to speak with a local property valuer in Brisbane or request a quote, please do not hesitate to be in touch or contact us today on (07) 3077 9695.