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Divorce and Real Estate Appraisal


Divorce and Real Estate Appraisal

In a situation, where a couple is going through the process of divorce and struggling to deal with mutual settlement issues, real estate division remains the key subject due to its higher financial stakes. This does not necessarily mean that one of the divorcing party should sustain losses while the other making gains; a fair evaluation of the property thus remains essential. A fair and impartial settlement primarily depends on the accuracy of the property valuation, a matter no other than an expert real estate appraiser can do. Accordingly, hiring the services of a professional real estate appraiser will not only help in determining the actual market value of the real estate in hand but will also resolve property related mutual issues amicably.

Real estate appraisers are experts who study and analyze the subject property and calculate a well-informed valuation that is accurate and beneficial to both the parties. A professional appraiser assesses and measures the property’s interior and exterior, overall square footage, design and construction, quality of built in appliances, real estate age, etc. and makes notes of any unique features.

The appraiser then identifies a few homes sold recently in the same locality and makes an expert comparison; the most recent sale reflects the most closer market valuation. The evaluation of the property, in conjunction with any special features, is then used to determine a sale value.

It is also important to note that the property’s unique features play a vital role in the real estate appraisal. For instance, the real estate sold recently in the same locality may not have the features that the subject property has; this may include elements like curb appeal, additional car garages, bathroom fittings, etc.

Accordingly, a realistic appraisal valuation of the property, can save both the divorcing parties from undue anxiety and legal disputes that is time consuming and stressful. It is therefore very important to hire a professional who has experienced, is familiar with the real estate market, and can give the most accurate assessment.

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