Importance of Estate Appraisal When Undergoing Divorce
You may require knowing the value of your house in many occasions without having to sell the house. One of the times when you will want to know the value of your house is when you are looking forward to divorcing your spouse. There are several scenarios that can take place during a divorce. 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 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. 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 a couple, as well as the judge, will want to know the value of the house so that the decisions that will be made will be based on facts and not imaginations or assumptions. Knowing the value of the house will help in making some crucial decisions. You need to make sure the person who is valuing your property is professional and understands the work.
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. The judge will need so many things when determining the divorce case and know the value of the house is not something that can be left out.
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 make you settled to know that the true value is determined and the right calculation will be carried out. Therefore take your time and make sure you have chosen the right professional to carry out the valuation. Using the wrong expert means having determinations based on errors.