Divorce Appraisal: The Basics

Jun 20, 2018 | Published by 1 Comment

It’s an unfortunate time when you are going through a divorce. Whether it is amicable or challenging, there are several things that need to be divided. A division of property (or properties) is often on top of the priority list for divorcing couples. But where do you even begin?

You must begin with a professional divorce appraisal. This is mandatory because a judge cannot simply determine how much any home is worth on a whim or based on the testimony of either spouse. This is a legal procedure and must be done correctly.

Either your attorney knows a local appraisal firm and will assign someone to evaluate your home or in most cases your lawyer will advise you to hire an appraiser yourself. Many times the husband and wife will each order their own appraisal to ensure an unbiased opinion.

The appraiser will visit the property and perform the necessary steps to get a solid valuation. This includes marking how many rooms and bathrooms there are, the square footage, whether there are any issues such as deffered maintenance and to get the overall condition and upgrades of the home. Finally, the appraiser will perform a comps assessment, wherein he or she examines nearby homes that feature similar amenities and what they have sold for.

After the comps report, the appraiser produces a value that he or she may place on the the home. This number can be used in divorce proceedings to determine how each spouse will proceed.

If privacy is a concern, appraisers agree to a code of confidentially. An appraiser is not allowed to divulge any information to the legal team of the other party in a divorce or the other spouse.

Divorce is a stressful time, but you can take comfort in knowing that your appraiser is a professional with no personal bias in the proceedings. A home is a valuable item and the appraiser will do everything in his or her power to abide by the terms of a divorce and by the legal proceedings set in the U.S. state the couple lived in.

A divorce appraisal is not personal, it is a tool meant to conduct fair business with. Working with an experienced divorce appraiser will help ensure that the value of your home is not mixed in with any other  thorny divorce issues.

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This post was written by Joseph Castaneda

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