Importance of Estate Appraisal When Undergoing Divorce
Several cases may call for you to value your house not necessarily when you are purchasing or selling it. You may need to know the value of your house during a marriage dissolution or divorce. There are several scenarios that are possible during a divorce. One of the scenarios is when there is a need to sell the house and splint the proceeds of the sale between the two parties. There is a time when the best option is to let one of the spouses keep the house and pay the proceeds to the other spouse. That means it is important to have the current market value of the house and that is why appraisal is necessary.
There are times when only the value at the date of the case is required. if the house was owned by one of the spouses at the time of marriage, there may need to determine the value at the time of marriage and the time of divorce. If the house has changed upwards in value it means that some money has been spending on upgrading the house. Therefore there will need to determine the initial value of improvement and the value after the house has been improved. The judge presiding over the divorce case will need to know the value of the house in order to make some crucial decisions. Knowing the value of the house will help in making some crucial decisions. It is important to make sure that you have engaged someone who can determine the value professionally.
It is important to make sure that you have to get the right professional in order to obtain the right value of the property. The appraiser should be on the condition of the house and the quality of the construction. All the defects that are found on the property have to be taken into the account before the final figure is determined. The final value is what will be used by the judge to aid in making a decision on the determination of the divorce 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. That will give you confidence that the figures used are true and correct. 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.