Litigation support
Residential Valuation for Litigation Support
Retrospective market value analysis following a failed purchase and subsequent resale.
The assignment
gsi prepared a retrospective appraisal of a residential property following a failed purchase transaction and a subsequent resale. The assignment called for an independent opinion of market value at a specified historical date associated with the later transaction.
Key considerations
The earlier agreement and the subsequent sale occurred within a changing market. The difference between their prices required context: transaction timing, property characteristics and comparable market evidence all needed to be considered. A retrospective appraisal also required the analysis to address conditions at the effective date, rather than conditions prevailing when the report was prepared. The purpose was to estimate market value, rather than to treat the price difference between the two transactions as a valuation conclusion in itself.
Our approach
gsi researched comparable residential transactions and reviewed the property’s characteristics and sales history. The analysis examined the timing of the available evidence and its relevance to the historical valuation date. Comparable properties were assessed in relation to the subject to develop an independent, market-supported opinion of value.
Purpose of the advice
The appraisal provided valuation evidence in the context of the transaction dispute. It established a reasoned opinion at the requested date, with the market evidence and assumptions set out for review.
Related expertise
Assignment details have been generalized to protect client and property confidentiality.