Rick Lopez

Understanding the Role of a Property Appraiser during Separation

The term appraisal service is a practice of professionally assessing the value or worth of something, which may be a property, asset or business. After estimation a written report of the valuation is made considering the factors considered in that estimation. The appraisal is done in various circumstances like when there is need to know its fair market value, loan requirements, insurance, tax purpose and during separation agreements. One of the most common instances that require appraisal services is when through a separation or divorce. It is challenging not only emotionally but financially also. It involves division of property with includes real estate also. Knowing the real value of the property is must to avoid any bias agreement. If there is a marital property, there is needed to get a professional and fast appraisal service of its value. This will help to get a fair and equitable settlement.

Why is separation property appraisal needed

Real estate properties are valuable and it further increases in coming years. After separation, it is the crucial to know the exact value of the property for proper division between the two or more. Here are some reasons why there is need to have separation property appraisal by a qualified professional.

* Determine the Fair Market Value: When property appraisal is done, the reports give an unbiased estimate of a property’s current market value. The same is concluded based on the property features, the sales and market trends.

* No further Disputes: Property appraisal gives the real value of the property which is given by a professional appraiser. The parties trust on the determined valuation. This reduces the chances of having disagreements and help in better settlement.

* Required in Court process: While separation agreements are made, valuation of the property is required by the court. Hence appraisal reports by professionals ensure equitable division and help the court in making viable decisions.

It is necessary to get separation property appraisal by experienced appraiser who has the qualifications, skills and expertise in the said field and has carried out number of appraisals for separation and divorce cases.

Author Resource:

Rick Lopez writes about capital gains, home and property appraisals with extensive expertise. You can find more thoughts at home appraisals blog.