New South Wales Consolidated Regulations

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Approximate market value

39.10 Approximate market value

(cf SCR Part 45, rule 7; DCR Part 35, rule 8; LCR Part 30, rule 6)

(1) Before selling property under a writ for the levy of property, the Sheriff must fix the approximate market value of the property, having regard to all the circumstances of the case, but need not disclose that value to any other person before the sale.
(2) For the purpose of fixing such a value, the Sheriff--
(a) may require the judgment creditor to furnish the Sheriff with any information known to, or reasonably capable of ascertainment by, the judgment creditor in respect of the property, and
(b) may engage a suitably qualified and experienced valuer to provide the Sheriff with an opinion as to the value of the property if the nature and apparent value of the property so warrant.
(3) If the judgment creditor unreasonably fails to furnish any information referred to in subrule (2)(a), the Sheriff must report the failure to the court, and may refuse to proceed further towards the sale of the property.

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