The Role of an Appraiser in a Divorce Appraisal

After making the difficult decision to file for divorce, there are many other challenging decisions that must be faced. These include issues surrounding child custody and what is going to happen to the family home. The spouses have to determine if one or the other is going to keep the home or if the property is going to be sold and the proceeds divided. Regardless of which path is chosen, the couple is going to need a Jacksonville divorce appraiser before doing anything.

The Purpose of a Jacksonville Divorce Appraisal of a Home

A major part of any divorce is dividing marital assets, and the home is one of the largest assets to be divided. Even if one spouse decides to stay and live in the home, the other spouse is still often entitled to a portion of the value of the home. For the spouses to come to any agreement, it is necessary to know the value of the home.

A Jacksonville appraiser can come in an act as an impartial third party, qualified to measure the value of the property. An attorney, mediator or judge will not have the ability or make these types of determinations. Professional and experienced appraisers will know how to meet the requirements of the courts.

Comparing the Home Value to Local Real Estate Sales

It is important to realize that a Jacksonville appraisal does not take place in a vacuum; outside market forces will be taken into consideration. An appraiser will determine the fair market value of the home by looking at comparable sales in the area, and by taking any special home features into consideration, according to Forbes. To receive a reliable value, it is important to choose a Jacksonville appraiser who is familiar with your local market.

Settling Disputes Using Home Appraisals

Ideally, each spouse, or the divorce attorney’s for each spouse, will choose a neutral divorce appraiser that has received every party’s approval. However, in hotly contested divorces, this can become more difficult, and each spouse will hire an appraiser.

According to The Wall Street Journal, the two appraisers should reach values that come within 10% of each other, but this 10% can become a major problem. In some cases, a third Jacksonville appraiser may need to be hired to settle these disputes.

Appreciation of the Home Value during the Marriage

If one spouse owned the home before the marriage, the other spouse may be entitled to a portion of the home’s appreciation during the marriage. In many cases, no appraisal took place at the time of the marriage. Therefore, it is necessary to find Jacksonville appraisers qualified to provide a retroactive appraisal and a current appraisal to create an accurate appreciation value. As these are decisions that could affect lives for many years, it is essential to choose a trusted and experienced appraiser.