Property Appraisals for Divorce Situations
If you and your spouse are going through a divorce, and real estate is involved, one of the most important factors of a marriage dissolution is the division of the property.
Negotiating a divorce property settlement depends on an assessment of the value of the real estate to be divided. The assessment must be fair, impartial and accurate.
In some cases the home is put up for sale in which the profits are split or one of the parties will buy the other out.
In these situations, it is important to enlist the support of a professional real estate appraiser. This can help you achieve a fair settlement for your divorce.
Why Choose an Experienced Appraiser?
In order to fairly divide your assets, you must first accurately appraise their value. Regardless if the husband or wife intend to keep the home and buy out the other spouse’s share or sell it and divide the proceeds, an accurate appraisal is an essential part of the asset division process.
Chicago Appraisals will correctly value your home in order to mitigate any possible disputes. The appraisal report we provide, will let you know what your home is really worth-its current market value.
For example, if one spouse wants to buy out the other, he or she may claim the home is worth less than it really is. Meanwhile, the other spouse may feel the house is worth more.
Chicago Appraisals will always give an unbiased and impartial valuation of your property. Comparable market analysis can be done by real estate agents, usually free of charge. You generally get what you pay for. A certified appraiser with Chicago Appraisals will be able to provide you with an accurate figure, giving you peace of mind that you have a precise valuation.
Choosing a professional and skilled divorce appraiser is imperative. An experienced appraiser will be able to produce an appraisal report sufficient for the purposes of a divorce. The appraiser may even testify in court if needed.
This can settle any conflict over the value of the home. Also will give the judge an accurate valuation of your home in order to divide the property during the divorce process.
What Happens During The Appraisal For a Divorce?
The appraiser will schedule a time that is best for you to inspect your home. During the inspection, the appraiser will take pictures and measurements.
You will also be asked questions about the improvements you’ve made since you’ve purchased the home. The appraiser will look at various aspects of the home, including the property’s condition, yard, amenities and other features.
This determines a detailed valuation of the property. Finally, the appraiser will take into consideration comparable properties in the same market area. All this information will provide a very detailed valuation of the property.
Contact Chicago appraisals if you are involved in a divorce situation.
If you need an appraisal for a divorce situation in the Chicagoland area, we have the knowledge and experience to help. Contact us today for an accurate appraisal of your home.
The law surrounding divorce situations is complicated and the facts for each case are unique. This article provides a brief general instruction to the topic. This is not legal advice. Please contact a divorce attorney to provide legal advice. As with any legal matter, we highly recommend consulting with an attorney.