Do I need house valuations for divorce?

Understanding the true value of a major asset is crucial for the fair division of assets, and a transparent settlement process. Having an accurate valuation helps you decide whether buying out your ex-spouse’s share or selling the property is the best option. 

The three main ways to obtain a house valuation are as follows.

The most accurate and reliable method is to instruct a Chartered Surveyor to carry out an independent, formal valuation. This is the recommended option when the parties cannot agree on a value, as a formal valuation will usually be accepted by the courts as the true value of the property.

A less formal method is to obtain several estimates from multiple estate agents who can provide an average and general idea of a property’s value.

A less reliable option is to carry out online research using property websites and online valuation tools who can provide rough estimates of value.