Determinations of Property evaluations

Discussion in 'Legal Issues' started by Wenren, 19th May, 2019.

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  1. Wenren

    Wenren New Member

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    Dear PC,

    How are property evaluations legally done and who/what determines the value of the evaluation ? ie; recent rates notice ? property valuer ? Looking to have the house valued as less as possible.

    thank you in advance.
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Valuations? Done by licensed valuers, the methodology will vary greatly depending on what the valuation is for and on what basis it is being done.
     
  3. Wenren

    Wenren New Member

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    Thanks for your reply Terry, this is for a Wills dispute with the option to pay out the Claimant and keep this payout/buy out to a minimum. The Claimant has expectations of the property being valued at 2017 prices compared to current prices.
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    This would be up for negotiation between the executor, other beneficiaries and the claimant.
     
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  5. Wenren

    Wenren New Member

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    Appreciate the reply once more Terry. Thank you.
     
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