How does it work when selling properties and getting valuations?

[AlmostUnbelievable]

I have a flat in my sole name and ex has a house in his.

The marital home is the house, and I rented the flat.

We have valuations to submit to the judge but I wondered how it works.

For example (and these are not the figures but just an easy example), if the flat is valued for £100,000 and the house £300,000, then collectively that's £400,000 to split.

If the judge says 50:50, then that's £200,000 each.

But what happens if the valuations are way off and the house sells at a lower price of £250,000, or the opposite happens and the flat goes for more like £150,000 than £100,000?

Is the final agreement simply a proportion of the exact same price, or is it decided roughly beforehand and tough luck if it's less or more when it comes to it?

I have no idea how it works and wondered if someone can tell me.

There must be some very important reason that people try to get their valuation done deliberately higher or lower, according to whether they are the person who is selling all the person who is hoping to reside in the property and not sell it at all yet. And I wondered what that reason might be, when if the matter is simply that they only ever get a percentage anyway. So there is no interest in inflating or deflating the value price in the first place.

Bump

Well first the standard advice of have you spoken to a solicitor? You seem to be a little ahead of yourself thinking about what a judge would say. You'd need a solicitor to draft the agreement.
But I think it's usually a percentage. It would seem odd if prices moved up in one case and down in the other? You get three valuations and make sure you are asking what the agent thinks the property will sell for, not what they would market it as.

And it's obviously the equity you're sharing, I assume you've subtracted the outstanding mortgage?

Ah, okay, a percentage makes much more sense, thank you!

If you are selling, you each get a %.
If you are staying put and have to buy the other out (with a % of the equity), that is when the valuation comes into play.