Andrea* had been a client with Family Focus Legal for approximately eight months, seeking our advice and assistance in negotiating a final property settlement between herself and her former husband.
Following separation, Andrea had attended to having several market appraisals completed for her home which she owned with her former husband which was in a local Macarthur suburb. This was the major asset owned by the parties.
The parties were ultimately able to reach an agreement, seeing Andrea transferring her share of the property to her former husband and receiving a cash payment in return.
Our office began preparing the documents to formalise the agreement, however, whilst in conversation with a local Real Estate Agent, we became aware of a similar property in the same suburb as Andrea’s, selling for a significantly larger amount than anticipated. Reviewing the date of the market appraisals, it was agreed that the local property market had considerably strengthened since they were first completed.
We presented our advice to Andrea and strongly suggested that she obtain some updated market appraisals to ensure the correct value of the property was shown. Andrea followed our advice, with all three appraisals showing a large increase in the property value.
We then provided this information to Andrea’s husband’s Solicitors, seeking an increase in the amount that was to be paid to Andrea to match the increase in asset value. With this evidence before them, an increase in the amount payable to Andrea was agreed upon.
Our staff having a local knowledge of the area and being connected to many local professionals resulted in Andrea receiving an additional $60,000.00 from her property settlement.
Sometimes, it really is possible to put a price tag on local knowledge.
If you would like advice that it is specific to you and your circumstances, call our office on 02 4655 4224 or email at firstname.lastname@example.org to get in touch today.