NSW Valuation of property

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snoop

Well-Known Member
14 October 2016
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What type of property valuation is recognised by the courts. Are ones from Real Estate Agents acceptable - Do Real Estate Agents do Estate valuations? if they do are they recognised by the courts? or do you need to go through a Company that specialises in this area?
Secondly, the deceased passed two and half years ago. An offer has now been made. Given the lapse of time should the valuation be done as at the time of death? or now? what is the correct legal process?
 

Tim W

Lawyer
LawTap Verified
28 April 2014
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Sydney
Sharks parasites pirates Real Estate Agents don't make valuations unless that individual agent is a Licensed Valuer.

An agent's best-guesstimate of the price a property could get if sold is not the same thing as a formal valuation.
 

Jacqui Brauman

Well-Known Member
15 January 2016
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Victoria
www.tbalaw.com.au
Go to a licensed valuer. Some real estate agents are also licensed valuers, but best to go to a company of valuers.
Yes, you'll need to update the valuation. The valuation used will be the current value, not a back-dated value to the date of death.
 
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