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House valuation

Anyone have experience with property valuers? How realistic are the assessments?
They can only assess what the market says. 

Executive Member of SRL-Resources, the Family Law People on the site (Look for the Avatars).   Be mindful what you post in the public areas
The only valuation likley to be accepted by a solicitor on the other side will be a registered valuer and one probably known to both sides. Land Agent estimates will not be adequate. The registered valuation will be at a significant cost. The valuations are usually fairly accurate based on a wide range of indicies.  

Executive Secretary - Shared Parenting Council of Australia
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The FM asked me if I was going to get 3 real estate agents to value the house I live in and I said 'yes'.
The sol for the other side wants to get a valuer (for the 3rd time) and I told the FM that he didnt do a proper job last time as he missed vital
things and was on his phone for most of the time he was here.
She said that I had to let the court know if I get another valuer as they have to come to an agreement before the trial on a price.
She told me not to waste any time and get some valuations asap.I think she knew that I would get some real estate agents opinions and then if they differ greatly from his valuer
I would then pay for another 'local' valuer
The real estate agent who came today said that she was willing to go to court and back her valuation.
I dont think that I would be allowed to call her in.
I think we might be getting confused between sworn valuations and appraisals.

1. The value of an asset must be agreed between the parties or dictated by a single expert jointly appointed between the parties. On a practical level this means that you can get as many valuations/appraisals as you like and throw them over to the 'otherside' but they don't have to accept/agree with the value - it remains, at least for the purposes of litigation - in dispute.
2. So then you could jointly appoint a single expert (must be written to in a certain form pursuant to and with reference to certain sections of the FLA) - this really just means you agree on a valuer together and that valuer produces a valuation sworn as a single expert in FC proceedings. Then that value is considered agreed. Yes, there are other rules, like you have an opportunity to 'ask questions of the expert' if you aren't satisfied with the value. So in your circumstances you could ask them if they took X, Y, Z into account in their valuation etc. But generally, their value is what must be accepted by the parties and the Court.
3. With ref to choosing the expert/agent - usually one party selects their top 3 real estate agents and the other party selects the agent who is to be jointly appointed from that list. Or, if this approach doesn't work, you can agree to accept the recommendation of a state property institute or something similar. In WA we refer the appointment to REIWA (Real Estate Institute of WA) and they choose for them.
4. The Real Estate Agent that came today did not produce her valuation in accordance with an appointment as a single expert. i.e. she wasn't jointly agreed and instructed to produce the valuation in consultation with your ex and/or his solicitors. So I guess she could swear an Affidavit to try and bolster the 'weight' of her valuation but it doesn't have to be agreed by your ex.

Hope the above helps!

- Zer0ne -
Does anyone know what happens when a valuer is 30-40K above 3 real estate agents appraisals and a bank valuation?
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