When it comes to working through a divorce, there are numerous factors to consider. In addition to the emotional pain that comes with the dissolution of marriage, there are also often child custody disputes, back-and-forth negotiations about the division of assets, and more. If that married couple owns a home or some other piece of real estate, these negotiations can become particularly heated and complicated.
A divorce settlement appraisal is a useful tool in these situations to take some of the emotion out of the equation and replace it with raw numbers. Figuring out what is going to happen to shared real estate—particularly a home—becomes easier when each party can look at value estimations instead of just thinking about personal matters such as memories and living arrangements. If one spouse will keep the house, learning the value is instrumental in making sure the other spouse gets a fair share of other assets in return. If the house is going to be put up for sale, so that each party can walk away with an equal sum of money from the asset, a value estimation is vital for determining the listing price.
In some cases—usually in more amicable divorce situations—both parties can agree to one appraisal firm to perform the appraisal. In more contentious divorce settlements, each spouse may hire a different appraiser to get a fair market value estimate of the property. Either option is satisfactory depending on the circumstances.
In a divorce settlement appraisal situation, the appraiser’s job involves more than just determining the fair market value of a home or property. Indeed, the appraiser must also prepare a detailed appraisal report for reliable reference in divorce settlement negotiations or court proceedings. At Authority Appraisals, we have performed countless divorce settlement appraisals over the years. We are prepared and equipped to provide you with an appraisal
report that exceeds all court requirements.
We can also serve as an expert court witness, if necessary. In rare situations when both spouses order individual property appraisals, the two reports can come back with conflicting opinions of a property’s value. Obviously, a conflicting opinion about the value of any asset is a problem for a divorce proceeding. Without an accurate estimate of asset value, it is exceedingly difficult to execute a divorce settlement in an entirely fair and equitable fashion. In turn, then, these conflicting opinions can escalate the already tenuous emotions of a divorce proceeding.
If you should find yourself in a contentious situation as described above, Authority Appraisals can help by testifying in court about our appraisal findings. This kind of expert testimony comes with an hourly fee. However, it will help you make sure that your appraisal value is part of the court record and that you have a genuine industry expert arguing on your behalf.
Do you need a divorce settlement appraisal for your home? If so, count on Authority Appraisals to provide a thorough, accurate, and confidential report. For more information please Contact Us, if you are ready to get started please complete our Order an Appraisal form and we will be in touch with you a free appraisal quote.