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October 11th, 2023 9:29 PM

Divorce appraisals: What to know

A divorce appraisal is a professional property valuation typically ordered by the court or a family law attorney. It is used to assess the value of a piece of property, whether it's a marital residence, business, or another type of asset, as of a specific date in the past, typically the date of marriage or separation.

What are divorce appraisals also known as?

Divorce appraisals are also known as retrospective appraisals, historical appraisals, or marital appraisals.

Why are divorce appraisals necessary?

Divorce appraisals are necessary to ensure that the division of marital assets is fair. By having a qualified appraiser determine the value of the property, the court can make an informed decision about how to divide the assets between the spouses.

What are the benefits of having a divorce appraisal?

There are several benefits to having a divorce appraisal, including:

  • It can help to avoid disputes between the spouses about the value of the property.
  • It can help to expedite the divorce process.
  • It can help to ensure that the division of marital assets is fair and equitable.
  • It can be used to support the terms of a prenuptial or postnuptial agreement.

How to choose a divorce appraiser

When choosing a divorce appraiser, it is essential to select someone who is qualified. The appraiser should be a member of a professional appraisal organization and should have experience in appraising properties in your area.

What to expect during a divorce appraisal

During a divorce appraisal, the appraiser will inspect the property and compare it to alike properties that have sold recently. The appraiser will also consider the state of the property, its location, and other factors that may affect its value.

Conclusion

A divorce appraisal is an integral part of the divorce process. It can help to ensure that the division of marital assets is fair and equitable. If you are considering a divorce, you should speak with your attorney about whether a divorce appraisal is necessary.


Check out the blog written by The Appraiser Coach at the link below:

https://theappraisercoach.com/how-do-the-presence-or-absence-of-sex-offenders-affect-appraised-value/



February 9th, 2021 11:05 AM

 

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Posted by Patricia Persia on February 9th, 2021 11:05 AMLeave a Comment

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December 15th, 2020 10:44 AM

External obsolescence is a factor that reduces the value of an improvement because of something external to the property itself. It refers to something outside of the home that is causing a lower property value.

Here are five examples of external obsolescence:

1. Busy Road: This is a very common example of external obsolescence because we can see it in virtually every community to some extent. Homes on busy corners, on main streets or near freeways suffer from extra noise and traffic, both of which impact property values.

2. Commercial buildings: Residential and commercial uses tend to not mix well in suburban areas. It's usually a negative factor when houses are located next to restaurants, retail, gas stations, etc. 

3. Construction of a landfill next to a neighborhood: This can impact the entire neighborhood (not just one house) due to the smell or even the noise of large garbage trucks moving in and out.

4. Railroad tracks: Properties located near railroad tracks will suffer a hit when it comes to home values due to the noise factor. Same goes for properties close to an airport and airplanes' flight paths. 

5. High-Voltage Towers: A view of nearby power towers usually results in a hit to property value.


August 23rd, 2017 2:20 PM

Here Are Just a Few Examples:

Estate Planning
Planning for the future of an estate or collection is important. An appraisal can provide a valuable tool so that owners can plan in advance for tax, distribution or donation. 
Refinancing
Most home buyers know that they need to get a home appraisal when they apply for a loan to purchase a property. However, an appraisal will also be required when a home owner wants to refinance their loan at a lower mortgage rate. Banks will order another appraisal to ensure what the value of the property is.
Prelisting
Some homeowners order a home appraisal prior to putting their houses on the market to determine the best listing price. This is a great idea regardless of whether the homeowner is or isn't working with a real estate agent to sell his/her property.
Divorce
Most state courts require a recent appraisal to determine a home's fair market value. In a contested divorce, spouses often want their own separate appraisals therefore two appraisals will be done. If the two appraisers reach different values, a judge will look over both appraisals to make his/her final decision.


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