Importance of Estate Appraisal When Undergoing Divorce
There are many instances when you may need to use the value of your house other than when you are either selling or buying it. You may need to know the value of your house during a marriage dissolution or divorce. There are many happening that can occur when you are divorcing. One of the scenarios is where the house is sold to allow the couple to split the proceeds. The other possibility is having the house sold to one party and gives the proceeds to the other person. That makes it necessary to have the house appraised in order to know the market value.
At sometimes only one value may be required that is at the time of filing the divorce case. In case where one of the spouses was owing the house in question, there may be two values needed, that is one at the time of marriage and another at the time of divorce. The the house may be increasing in value in that the couple may have spent some money in order to give the house the value it has currently. The couple will want to know the value before the house was improved and what the current value is after improvement. The judge presiding over the divorce case will need to know the value of the house in order to make some crucial decisions. Some of the determinations will have to be based on the value of the house. You need someone professional to value the property.
When you have a professional doing the work you are sure that you will get the real value of the property. The appraiser needs to visit the property and take detailed notes in regard to the condition of the house and the quality of construction. When the property is found to have any effects, all that is taken into the account before the final opinion is given. The the final figure will be useful to the judge when making the final determination of the case. When determining the divorce case the judge will need so many facts and one of them that cannot be left out is the true value of the property used by the family.
After knowing the importance of the value of the house in the whole process, it is up to you to make sure you get the right appraiser to do the job. The best thing is to know that you have the right figures as far as the house is concerned and the true position is determined correctly. Therefore do not be in a hurry because you may end up hiring the wrong appraisal expert. Using the wrong expert means having determinations based on errors.