In simple terms, a retrospective property valuation is a historical or backdated property valuation. It is used to determine the value of a property at a particular point in time and will often be completed for a variety of reasons including:
Capital gains tax;Divorce property settlement;Litigation;Family law settlement;Probate and estate settlement.
Why is a retrospective property valuation important?
A retrospective property valuation gives you an understanding of what the property was worth at a particular point in time and the value it has increased by over time. Possessing that knowledge can save you thousands of dollars in capital gains tax or ensure you receive your fair share in a divorce property settlement, family law settlement, or a Probate settlement.
Why choose Valuations ACT?
Valuations ACT has been in the field of valuing real estate for over 20 years. Every member of our valuation team has over 20 years of local valuation experience and are Certified Practising Valuers recognised by the Australian Property Institute (API). When you call us you will be assigned a compatible Valuer who is a specialist in the field of retrospective property valuations.
We often receive instructions from clients to value properties anywhere from 5-40 years ago. In some instances, we can value properties that we do not have access to or when the property no longer exists.
Your retrospective property valuation may seem odd to you however as we’ve completed thousands of property valuations, we have probably come across a situation similar to yours.
So we can assign the most suitable Valuer to complete your retrospective property valuation we will ask for the following information:
The reason for the valuation;Whether or not you have access to the property (and if not, if you have photographs of it);The date that you would like the property valuation backdated to;The type of property that we’ll be valuing e.g. house, unit, apartment etc.
Every valuation we complete is a legal sworn document that can be presented in the various courts, to lawyers, the Australian Tax Office and banks and other lenders.
To get the process started give us a call on (02) 6189 2232.