A Divorce Sucks. Your Divorce Appraisal Shouldn’t.
When you divorce, an appraisal of the property held by one or both partners is usually necessary to determine the value of the real estate that will be divided during a divorce. This type of appraisal is commonly called a Divorce Appraisal. Another common term used for determining the value of property assets, including real estate, during a divorce is divorce valuation.
Attorneys and Accountants
Attorneys, as well as Accountants rely on professional property appraisals when calculating the values for real property.
These property values are used for divorces, as well as estate planning, or when a dispute needs to be resolved and the Market Value of the property is one element that needs to be determined.
Unfortunately, divorces happen, and when they do, assets need to be divided. One of the largest assets for many people is their home. Before a divorce can be finalized, the value of the home needs to be determined by a residential real estate appraisal, and then a decision must be made – does one person get the house (perhaps by buying out the other person), or will the property be sold and the proceeds divided along lines similar to the rest of the division of assets? In Texas, a licensed real estate appraiser, preferably a Certified Residential Appraiser, should perform divorce appraisals in order to obtain an appraisal that will hold up (i.e, be defensible) in court.
Historical Appraisal (Retrospective Appraisal)
Appraisal IQ is experienced in handling appraisals where the date of the appraisal is different than the date the report is ordered, or the date the appraisal is performed.
For this type of appraisal, called a retrospective appraisal, the effective date needs to match the date of the divorce, or another key date in the past.
Appraisal IQ adheres strictly with the Uniform Standards of Appraisal Practice (USPAP), which means the details we receive that are necessary to perform a property appraisal for a divorce will be handled with discretion and confidentiality.
Call Today to Discuss your Divorce Appraisal
If you need an appraisal for a divorce, or for dividing property assets in Austin or Central Texas, please email info@theappraisaliq.com, or call (512) 541-2107 for more information.
