A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Discrepancy in house valuation

  • redwine47
  • redwine47's Avatar Posted by
  • Platinum Member
  • Platinum Member
More
05 Jun 12 #335141 by redwine47
Topic started by redwine47
Just wanted to know how the court deals with a discrepancy in house valuation. Stbx valuation 50k more than mine. Outrageous! My valuers based price on other similar properties that have sold in the area.... His valuers have just given valuation.

As 50k is a lot of money just wondering where I stand. Would like house for children, it requires about 10k to update?

  • Hereshopin
  • Hereshopin's Avatar
  • Elite Member
  • Elite Member
More
06 Jun 12 #335226 by Hereshopin
Reply from Hereshopin
Hi, Whereabouts in the process are you? I was in a similar position but we weren''t £50k apart! The judge at FDA encouraged us to agree on a price or he would direct that it should be formally valued by a surveyor. This would have been on a joint instruction and at joint expense (£400 + VAT in our case). We eventually agreed as we weren''t so far apart.

  • redwine47
  • redwine47's Avatar Posted by
  • Platinum Member
  • Platinum Member
More
06 Jun 12 #335235 by redwine47
Reply from redwine47
We are meeting for a joint consultation nxt week... Fh end June.

Can''t think we cld come to agreement as his valuation is way out! Surely a valuer can not just pluck a figure from nowhere with no back up. Even taking an average between the two valuation is way out of range. I''ve paid for total of 3 valuation s to date.

Recently I suggested a joint valuation from an independent valuer but he refused! Perhaps I can use. this fact.?

  • Hereshopin
  • Hereshopin's Avatar
  • Elite Member
  • Elite Member
More
06 Jun 12 #335260 by Hereshopin
Reply from Hereshopin
I would ensure your valuations are included in the bundle. If you have a letter offering to get a joint valuation, I would include that, along with his refusal. You can argue then that you have done everything to try and resolve it and the judge has no option but to consider your values as being correct. You could try and get some further Directions from the court to order a joint valuation but I would have thought that should have been taken care of at the first appointment.

From what I have seen so far a judge will try and find the easiest and quickest solution to a problem like this. If you value it at x and he values it at y then the easiest solution is to meet in the middle. If you agree to that then it''s problem solved. However, if one party is completely unrealistic and deliberately under/overvaluing it and the other is honest then this approach doesn''t work and you have to rely on expert valuations. A jointly instructed valuation is the solution but if he won''t agree and the court doesn''t order it then there is not a lot more you can do.

As for a valuer plucking a figure from nowhere. I had several valuations done by estate agents and some of them were miles apart. They are looking for business and have their own reasons. Instructing a surveyor is a bit different because they are saying it is worth x and they are putting their professional reputation on the line if it isn''t worth that amount. So you could argue they may tend to undervalue it because they are guaranteeing it is worth that much. A surveyor would probably object to that but that''s the way it was explained to me.

  • redwine47
  • redwine47's Avatar Posted by
  • Platinum Member
  • Platinum Member
More
06 Jun 12 #335301 by redwine47
Reply from redwine47
Thanks for your advice. I will suggest this to my legal team.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11