Author: Carol Pages, Pages Family Law.
Separating from your partner means dividing your assets, and one of the first steps in a property settlement is to work out the “pool” of assets and liabilities. A clear and accurate property valuation is critical to this process – particularly when it comes to your home or investment property.
In this article, we explain:
- ● When you should get your property valued after separation
- ● Why a formal valuation is important (instead of relying on online estimates or real estate agents)
- ● How valuations work in mediation and Court matters
- ● Who usually pays for a valuation
Our earlier article about how assets are commonly valued in preparing your asset pool is available here : Family law property division – Asset valuations – Family Law
When Should You Get a Property Valuation After Separation?
If you or your former partner want to keep the family home or an investment property as part of the settlement, it’s wise to get a formal valuation.
A formal valuation gives both parties certainty and ensures your property settlement is based on a figure that reflects the true market value. This can also help you decide whether refinancing into your sole name is possible if the property has a mortgage.
By contrast, relying on online property searches or real estate appraisals can be risky:
- ● Online estimates may be outdated and don’t account for unique features of your property (such as renovations or required repairs).
- ● Real estate agent appraisals can vary significantly – and sometimes lean towards an optimistic “sale” figure rather than a current market value.
Because internet searches and agent estimates can differ by hundreds of thousands of dollars, basing your settlement on these figures may put you at financial risk.
Why Get a Formal Valuation?
A formal (sworn) valuation provides certainty through a report from an independent, accredited valuer. These valuations:
- ● Follow industry-accepted methodologies
- ● Take into account market conditions and specific property details
- ● Provide a transparent explanation of how the value was calculated
If you’re heading into mediation, it’s best to have a formal valuation in place beforehand. That way, valuable time isn’t wasted debating different internet or agent estimates – you can focus instead on resolving your matter.
If your case proceeds to Court, a sworn valuation is usually ordered at the first hearing. Under the Family Law Rules, expert evidence requirements are clear: the valuer must be jointly appointed, and may be required to give evidence in Court to explain or defend their conclusions.
Who Pays for the Valuation?
In most cases, the cost of the valuation is shared equally between both parties. Sometimes, the parties may agree for one person to pay the upfront cost, with the other’s share deducted from the final settlement.
Expert Insight: Local Valuers Australia
“In family law matters, it’s common for people to rely on online estimates or real estate appraisals. The problem is these figures can be inaccurate by tens or even hundreds of thousands of dollars. A formal valuation gives both parties — and the Court — a reliable number that helps reduce conflict and speeds up the settlement process.”
Michael Campbell, Local Valuers Australia.
Every property is unique – from renovations to needed repairs – and these details often aren’t reflected in generic online tools. As Michael explains, a sworn valuation is carried out using industry-accepted methods, ensuring both accuracy and independence.
Local Valuers Australia provide residential, commercial, and business valuations across Australia, including valuations for family law, SMSFs, and litigation.
Further information about Local Valuers Australia, including obtaining an estimate of their valuation for your property can be found on their website: Trusted Property Valuers – Local Valuers Australia
Key Takeaway
Getting a formal property valuation post-divorce isn’t just about numbers – it’s about ensuring your settlement is fair, accurate, and future-proof. Whether you’re negotiating directly, attending mediation, or preparing for Court, having an independent valuation will give you clarity and confidence.
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The content of this article is provided for information purposes only and does not constitute legal advice. We recommend that you seek legal advice relevant to your own circumstances and we would be happy to assist you.
Carol Pages is the Principal of Pages Family Law and an Accredited Specialist in Family Law and a Nationally Accredited Mediator. If you would like advice about your own separation, please contact Pages Family Law at info@pagesfamilylaw.com.au or on 03 9121 8077 or book a 15 minute free discovery call via our website.
