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House valuations and COVID19

  • Charlene1985
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09 Apr 20 #512073 by Charlene1985
Topic started by Charlene1985
I have just seen online that we are expecting a knock to the economy.
My house valuations for my finacial settlement were taken by estate agents last year. My ex and me agreed on a value last November but I am worried now how the current situation will affect our financial settlement? We are going to the courts later this year which i also think may be postponed with what is going on.

Should we get more valuations done or can my ex say to the courts the figures are no longer right?
I know a normal financial settlement takes a while but time from the inital valuation to the final court wouldnt really see a drop or rise to the value of her property.

But how will teh current situation? With the news syaing a drop in 14% in the economy.

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10 Apr 20 #512076 by WYSPECIAL
Reply from WYSPECIAL
Is it going to have a massive affect upon the settlement you have agreed to the point where it clearly makes it unfair to one of you?

It's difficult for anyone to answer your question without more detail.

  • hadenoughnow
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12 Apr 20 #512091 by hadenoughnow
Reply from hadenoughnow
If you are in the court process, you would need to update financial disclosure, including valuations, on the way through.

If you are seeking to agree outside the courts then it makes sense to update all valuations before making a final agreement.

It is likely to be a while before things settle down enough for valuations to be obtained and for the longer term impact on finances to be assessed.


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