Retrospective Property Valuations

What is a Retrospective Property Valuation?

A retrospective property valuation determines the market value of a property at a specific point in the past. This differs from a standard valuation, which assesses the current market value. Retrospective valuations are often required for tax purposes, legal proceedings, or historical records. Key situations where retrospective valuations are necessary include calculating capital gains tax, settling family law disputes, resolving property claims, or establishing the value of a property at the time of death for probate purposes.

At Northern Beaches Property Valuations, we use comprehensive market data, historical sales records, and expert knowledge of the local property market to provide accurate and reliable retrospective valuations. Whether the valuation date is years or even decades in the past, we offer in-depth analysis to ensure the assessment reflects the true market value of the property at that time.

Why Do You Need a Retrospective Property Valuation?

There are numerous situations where a retrospective valuation is required. These include:

• Capital Gains Tax (CGT) Calculations: If you are selling a property that was inherited, gifted, or purchased a long time ago, you may need a retrospective valuation to calculate capital gains tax. The ATO requires a valuation from the date of acquisition to determine the difference between the purchase price and the selling price.
  
  
• Probate or Estate Settlements: When someone passes away, a retrospective valuation is often required to establish the market value of the property at the date of death. This is essential for calculating any inheritance tax and distributing the estate to beneficiaries.
  
  
• Family Law Matters: In cases of divorce or separation, retrospective property valuations are often needed to determine the value of shared assets at a particular point in time. This is important for equitable asset division.
  
  
• Stamp Duty: If a property was transferred between family members or through a related-party transaction, a retrospective valuation may be necessary to determine the market value at the time of the transfer, ensuring that the correct amount of stamp duty was paid.
  
  
• Insurance Claims: In some cases, retrospective valuations may be required to determine the value of a property before an event such as a fire, flood, or other damage occurred. This helps to assess the insurance payout based on the historical value of the property.
  
  
• Dispute Resolution: Retrospective valuations are often needed in property disputes, such as determining the historical value of a property in boundary disputes, or when resolving issues related to property ownership or development rights.
  
  

Our Retrospective Property Valuation Services

At Northern Beaches Property Valuations, we provide expert retrospective valuations for both residential and commercial properties. Our team of certified valuers has extensive experience in conducting valuations for properties across the Northern Beaches and greater Sydney, and we utilize comprehensive historical data to ensure the accuracy of our assessments.

1. Residential Retrospective Valuations

Residential properties often require retrospective valuations for reasons such as capital gains tax, probate, family law disputes, or property settlements. Our valuers are experienced in assessing the historical market value of all types of residential properties, including family homes, investment properties, and holiday houses.

2. Commercial Retrospective Valuations

Commercial properties, including retail spaces, office buildings, and industrial sites, often require retrospective valuations for tax purposes, legal disputes, or to settle historical property claims. Our valuers have extensive experience in commercial property valuations and understand the complexities involved in assessing the historical value of these assets.