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What’s The Appraiser’s Role during a Divorce?

Whether friendly or fierce, a divorce often times requires the services of an appraiser. In most cases there are two separate appraisals completed – one for each partner. Certain instances may even call for the use of a third appraiser.

If two appraisals come in with two very different amounts, the judge may order a third independent appraisal to help settle the matter. So the appraiser’s role in a divorce is helping assess value for the division of property.

ft.collins3Your attorney will advise you of this anytime there is property involved. While the cost of your divorce seems to be adding up quick enough to make your head spin, you cannot skimp on the real estate appraiser. It may seem like a formality, yet you should realize what you end up getting out of the split once the dust settles is based a great deal on the report from a professional appraiser.
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What Is a ‘Retrospective or Date of Death’ Appraisal?

Although these types of appraisals are not uncommon, it is one of those things that is hard to find out a lot of information about. Anyone who might face this situation in the future certainly needs to be informed and at least have some basic knowledge of the facts. In most common cases the “date of death” appraisal is for anyone who has recently lost a loved one or inherited property.

If a loved one dies and leaves you property or a transfer of ownership occurs because of death, this appraisal usually occurs for tax purposes. An accountant or attorney may be appointed to order this type of appraisal or the appraiser may even be chosen by a family member.

These appraisals are usually ordered within one to six months from the date of passing or the inheritance of the home or property. There are times when it may be ordered in just a few weeks or it may also be prolonged past the six month mark.
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The Top 10 Things to Ask Before Hiring an Appraiser!

fort-collinsA real estate appraiser plays a vital role in any situation that is related to real estate. It could be any type of real estate transaction and can often mean the difference between a good transaction and a bad transaction.

This is why it is imperative that you hire a qualified, professional appraiser. Not many people know the difference between an unqualified and a qualified appraiser, which can come back to haunt them in the end.

So here is a list of the ‘Top 10 Things You Should Ask an Appraiser’ before hiring them for an appraisal.
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