When going through the process of a divorce, it is usually necessary to have an appraisal completed on any owned real estate. This is done to provide a professional, unbiased valuation of marital property to establish the fair market value for an equitable division between divorcing spouses. The appraisal assists in providing an objective basis for negotiations, buyouts, settlements and court decisions. It is also important in developing an understanding of the value of your current assets and future financial planning, which is particularly important when negotiating settlements, alimony and child support.
The cost of the appraisal is typically split between the parties, but this can vary. If an appraiser cannot be agreed upon mutually, both parties may decide to hire their own and pay the full fee individually.
If there is a disagreement between the divorcing spouses on the appraised value, there are several options forward including a second appraisal, arbitration, mediation or putting it in the hands of the court.
We have assisted many homeowners in this process. While it is a stressful and emotional time for our clients, we strive to make the process as straight forward and easy to understand as possible, resulting in a fair valuation for the parties involved. We can also provide professional testimony in court if required.