When To Hire A Real Estate Appraiser In Divorce Cases

Dec 03, 20 When To Hire A Real Estate Appraiser In Divorce Cases

Going through a divorce can be a highly emotional time and one when decisions can seem overwhelming. Unfortunately, many people in Frisco, TX, simply want to get the process over, so they agree to choices that are not in their best interest.

When decisions are rushed and people feel pressured to settle a divorce mediation or case, they may agree to things they regret later. When these regrets include lost funds or inaccurate information from the other party, contacting divorce appeals attorneys as soon as possible is critical.

In many cases, divorce appeals attorneys can resolve the issue and provide their clients with the financial compensation or equitable division of property. However, this does include returning to court and the stress and costs of that decision. To avoid the need for divorce appeals attorneys around fair value on property, hiring a real estate appraiser is a very wise choice.

Real Value and Perceived Value

There are many different types of homes in Frisco, TX. There are new luxury homes and older homes, and there different home types in between. Regardless of the type of home, most people tend to overvalue their home, often by hundreds of thousands of dollars compared to the real market value.

Hiring a real estate appraiser eliminates the risk of overvaluing the home. This is critical for the spouse who may be “buying out” the other spouse’s equity in the home or negotiating other options for settlement.

The use of a real estate appraiser can also help the couple to understand the potential benefit of selling the home and both parties relocating. Depending on the neighborhood, the market comps, and the housing market in general, this may be the best option to consider.

Multiple Properties

When multiple properties are involved, which may include rental homes, vacation homes, or commercial property, a real estate appraiser should be involved. This prevents one spouse from trading off low-value properties as higher value, and creating an uneven distribution of the community property.

It is also a good idea to have complex property holdings or high-value properties appraised by more than one real estate appraiser. This helps to eliminate any possibility of a biased evaluation for one party or the other.

To avoid the cost of divorce appeals over these types of situations, work with an experienced divorce attorney during the initial negotiation of the terms of the divorce. Contact Orsinger, Nelson, Downing & Anderson, LLP for any divorce cases in Frisco.

Be the first to like.
Be Sociable, Share!
    Share This