Taking into account the sensitive challenges of a divorce situation is common territory for us.
Divorce settlements involve many decisions, including who keeps the house. Whether you decide to sell the home, refinance and divide the equity, or one party "buys out" the other, you'll first need a licensed real estate appraiser for what is commonly referred to as a divorce appraisal.
How Is The Value Of A House Determined In A Divorce?
State law often requires judges to determine the fair market value before deciding a property division issue. Judges may act on information provided by just one spouse, if that is all that is available - which is why it is important for each spouse to have their own home appraisal process done by a professional real estate appraiser.
An appraisal for divorce purposes should include:
When you order an appraisal from Master Appraisal Services, you are assured the best in service with professional courtesy and top notch analysis. We provide accurate, reliable home appraisal value in cases of divorce or separation with over 25 yrs experience in Mesa, Gilbert, Phoenix and surrounding area home and divorce appraisals.
Who Pays For The Home Appraisal In A Divorce?
In many cases, the cost - which can be from $250 to $550 depending on the size and complexity of the appraisal - is split. However, if you are buying out the other and intending to keep the home, the buyer usually pays.
What If You Don't Agree On An Appraiser?
In the midst of a divorce, it's not unusual for spouses to disagree on which appraiser to use. It's okay to be cautious when the stakes are high, especially considering judges may act on information provided by just one spouse, if that is all that is available. In a divorce situation, it can be important for each spouse to have their own home appraisal process done by a professional real estate appraiser.
It is common for both appraisers to be in the same general value vicinity as each other since they are trained to look for the same attributes. However, when appraised values vary widely, a judge may need to step in and reconcile the value to be used, settling on a compromised number.
Ethics of a Divorce Appraisal
For each divorce appraisal we handle, we keep in mind that they need to be handled prudently. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) compels us to keep the highest degree of confidentiality, guaranteeing you the utmost discretion.
For Divorce Attorneys and Accountants
Attorneys, as well as accountants, in Arizona depend on our appraisals when determining what real estate is worth for estates, divorces, or other disputes. We have a lot of expertise dealing with all the parties involved and are ready to assist with your needs.
As an attorney handling a divorce, your case research will likely necessitate a property appraisal to obtain an accurate market value for the residential real estate involved. Most of the time the divorce date differs from the date you ordered the appraisal. We're comfortable with the methods and requirements requisite to do a retrospective appraisal that has an effective date and market value opinion that matches the date of divorce.
Schedule Divorce Appraisal Services
We welcome you to look through our website, review appraisal services, join our Facebook community, and learn more about our expert appraisers, how we do comparative market analysis and handle divorce proceedings.
Give us a call if you're ready to schedule your appraisal.