Why Do I Need a Divorce Appraisal?
During a divorce, when assets are being divided, you need an expert real estate appraiser to determine the current market value of the properties. Divorce appraisals ensure a fair and objective division of real estate during a divorce.
Attorneys recommend one or both parties hire an appraiser for the properties in question. Many couples mistakenly believe they can divide the assets on their own or with the help of a lawyer or judge. However, neither an attorney nor a judge has the market knowledge and experience of a licensed real estate appraiser.
Things to Consider During a Divorce Appraisal
- Divorce dates are often different from inspection dates. In this case, you need a Retrospective Appraisal. Retrospect appraisals reflect the market value of the properties on the date the divorce is finalized.
- Your appraiser must comply with the code of ethical conduct established in the Uniform Standards of Professional Appraisal Practice.
- Properties that have unique features need special attention. For example, if your home is the only home in the neighborhood to have a guest annex, the appraiser should consider this when determining a valuation.
- Your appraiser should belong to and have thorough knowledge of the local market.
- Sometimes, two independent appraisals from two separate appraisers will differ in their valuation results. In this case, the divorcing couple will need to mutually agree on a value.
Divorce is Hard. Divorce Appraisals Shouldn’t Be.
At Atlantic Appraisal Group, we know divorce is difficult enough on its own. That’s why we work hard to make the appraisal process as painless as possible. As experienced divorce appraisers, we provide accredited divorce appraisals throughout the Hampton Roads area, including Virginia Beach, Chesapeake, Norfolk, Newport News, Hampton, Portsmouth, Suffolk, and Yorktown. Give us a call at 757-296-8800 with any questions or email us at email@example.com and let us know how we can help.