Property valuation for divorce

Property & Home
1

Hi All,


Following a recent separation in UK, and plans for divorce, I am starting the process of financial separation. I plan to keep my French apartment (a holiday place) but I need to sensible legal valuation so that i can include the asset value in the financial agreement.


Can anyone advise the best and lowest cost way of achieving a valuation that can be held up legally? I'm ok with sales evaluation but my wife will want something close to legal and close to true value.


Many thanks


Jim

2

Thanks Brian, I think i will try a couple of estate agents first and see how that goes, and save my pennies for the legal transfer of title. I'll avoid the avocat and contact the notaire when the time comes.

thanks again for your help,

Jim

3

This is a how many beans make nine. Most will try to get as close to the value as possible. I gather it depends on the market. At present property prices are still going down slightly, so I believe it would be a little bit under. However, that means their commission is lower, so they try not to. Going over is of no benefit with a lot on sale.

Acovats are generally the most expensive way and it is very highly likely that he or she will go to your local notaire to get the details they need. The truth is, do whatever you can to leave out the lawyer because by the time the hours they work for you have heaped up it will be thousands of Euros. bear in mind, if a lawyer gives you two minutes that counts as an hour. Each time they give a separate few minutes that is an hour, even if it is to sign a document or letter their assistant, secretary or clerk has actually written and will send to you. The chances are high that you will save nothing but simply pay more by using the lawyer. In good French: Boff!

4

Hi Brian,

Just a follow up question on estate agents, are they likely to value the apartment less than or more than actual value? And on Notaire's, I contacted an Avocat who quoted 180 euros per hour, this seems expensive so was wondering if the value difference from estate agent and notaire would be sufficient to cover the added cost?

Thanks,

Jim

5

Thank again Brian,and thanks to your wife too

6

Thank herself who was with me, she knows. Anyway, simply try notaires straight out of the phone book and ask them if they or somebody in their practice speaks English. I gather many do or have somebody, so looking for an English speaker may be the wrong way round.

7

Thank Brian, I'll steer clear of estate agents, that was my first though but I will take your advice. And I (unfortunately) have a few divorced friends who advise against UK Lawyers for ANYTHING but the minimum if possible.

Now to find an english speaking notaire in Nimes

8

I have wife standing behind me. She sells part-time and has a couple of these things in houses on her books. She is saying that you should do exactly as Véro is saying but added two things. One, do NOT go to an estate agent for an evaluation since they will only give you the value they believe they can sell at and not the actual value. Two, under no circumstances get a UK solicitor involved. Thus far they have proved to be more of an obstacle than an asset and seriously get in the way and cause delays because it appears that they look at purchase price, not price as it is now and some of them think in UK appreciation terms. (Nods head beside me) Stick with the notaire but get it on paper as soon as possible.

9

Go and see a notaire, local to where your holiday flat is.