Appraisal for Divorce, Estate or Probate Purposes

If you are going through a divorce, or dealing with an estate or probate matter, you may need to get an appraisal of your property. An appraisal is a professional opinion of the market value of a property based on its condition, features, location, and comparable sales. An appraisal can help you determine how to divide your property fairly and equitably, or how to settle any taxes or debts related to the estate or probate.

Why Do You Need an Appraisal?

An appraisal is often required by the court, the attorney, or the lender when you are involved in a divorce, estate or probate situation. Here are some common reasons why you may need an appraisal:

  • Divorce: If you and your spouse own a property that has significant value, an appraisal may be required to determine its value for negotiation in the divorce settlement. The court or your attorney may order an appraisal of the property, and if the court orders an appraisal, then it will appoint a neutral appraiser. The value of an asset is generally determined by the date of separation. A professional real estate appraisal may be required to determine the accurate valuation of your home in order to divide property in your divorce.

  • Estate: If you are the executor or administrator of an estate, you may need to get an appraisal of the decedent’s assets for tax purposes, or to distribute them among the heirs or beneficiaries. An estate property appraiser is further required to follow the IRS valuation guidelines according to the requirements in Treasury Regulation Section 20.2031-1 (b). Determining an estate’s value typically includes a thorough inspection of the property.

  • Probate: If a person dies and the will is probated, an appraisal is needed of the decedent’s assets. In many states, fee appraisers are appointed by the judge to appraise the real estate. To get these assignments takes some luck (right place at the right time) and persistence (keep trying to get appointed). An appraisal can help settle any debts or claims against the estate, or distribute the assets according to the will.
Appraisal for divorce
Appraisal for divorce

How to Get an Appraisal?

If you need to get an appraisal for divorce, estate or probate purposes, you should hire a qualified and experienced appraiser who specializes in these types of appraisals. Here are some steps you can take to find and work with an appraiser:

  • Search for appraisers: You can search online for appraisers in your area who have the credentials and expertise to handle divorce, estate or probate appraisals. You can also ask for referrals from your attorney, accountant, realtor, or friends who have gone through similar situations.

  • Interview appraisers: You should contact several appraisers and ask them about their qualifications, experience, fees, turnaround time, and references. You should also check their reviews and ratings online, and verify their license and certification with the state board or association.

  • Choose an appraiser: You should choose an appraiser who meets your needs and expectations, and who has a good reputation and track record. You should also make sure that the appraiser is impartial and independent, and does not have any conflict of interest with any of the parties involved in your case.

  • Prepare for the appraisal: You should provide the appraiser with any relevant information and documents that may affect the value of your property, such as deeds, surveys, tax records, contracts, leases, repairs, improvements, etc. You should also make sure that your property is clean and accessible for the appraiser to inspect it thoroughly.

Frequently Asked Questions (FAQs)

The cost of an appraisal depends on several factors, such as the size, complexity, location, and type of property, as well as the purpose, scope, and format of the appraisal report. The cost of an appraisal can vary widely depending on the specific circumstances of each case.

The time it takes to complete an appraisal depends on the availability of the appraiser, the accessibility of the property, the amount of research and analysis required, and the complexity of the report. The average turnaround time for an appraisal for a single-family home in the U.S. is about 5-7 business days, but it can vary widely depending on the specific circumstances of each case.

If you disagree with the value opinion of an appraisal, you can dispute it by providing evidence that supports a different value, such as recent sales, listings, or appraisals of comparable properties, or information about any errors, omissions, or inaccuracies in the appraisal report. You can also request a second opinion from another appraiser, or hire an appraisal review expert to evaluate the quality and validity of the appraisal. However, disputing an appraisal does not guarantee that the value will change, and it may incur additional costs and delays.

No, you cannot use an online home value estimate instead of an appraisal for divorce, estate or probate purposes. An online home value estimate is not a professional opinion of value, but a computer-generated estimate based on limited data and algorithms. An online home value estimate is not reliable, accurate, or credible, and it does not comply with the standards and regulations that govern appraisals. An online home value estimate is only a starting point for your own research, but it cannot replace a formal appraisal by a qualified appraiser.

Residential Appraisal and Valuation Services is a leading provider of appraisals for divorce, estate or probate purposes. We have a team of certified and experienced appraisers who specialize in these types of appraisals. We offer fast, accurate, and affordable appraisals that meet the highest standards of quality and professionalism. We also offer excellent customer service and communication throughout the appraisal process. We are here to help you with your appraisal needs and make your situation easier and smoother. You can visit our website at www.residentialavs.com or call us at +1617-910-3700 to get started.

Conclusion

Getting an appraisal for divorce, estate or probate purposes is an important step that can help you resolve your legal and financial issues related to your property. An appraisal can provide you with a fair and objective value of your property that can be used for negotiation, distribution, or settlement. However, getting an appraisal is not a simple or easy task. You need to hire a qualified and experienced appraiser who can handle your specific case and deliver a reliable and credible report. You also need to prepare for the appraisal and review the report carefully.

If you need help with getting an appraisal for divorce, estate or probate purposes, you can contact Residential Appraisal and Valuation Services. We are a trusted and reputable company that offers high-quality appraisals for various purposes. We have the expertise, experience, and resources to handle any type of property and situation. We are committed to providing you with fast, accurate, and affordable appraisals that meet your needs and expectations. We are also friendly, responsive, and supportive throughout the appraisal process.

We would love to work with you.

Contact Us

+1617-910-3700