Why is Divorce Appraisal Needed?

For many couples, the marital residence is the largest asset obtained during the marriage.  Whether you or your spouse wishes to retain the marital residence after the divorce, it is important that an accurate value is obtained for purposes of property division.  There are typically two options regarding the home.

1. The property can be sold and the proceeds divided.
2. If either party wants to remain in the home, they can pay a settlement to their spouse.

In either case, an appraisal is needed.  In scenario #1, an appraisal should be obtained to help determine a listing price in an effort to limit the time the house will be listed for sale and maximize the selling price.  In scenario #2, the judge will not make a ruling on the settlement or division of property without an appraisal by a certified real estate appraiser.  As to who is responsible for the appraisal fee remains at the discretion of an agreement between both parties or court ordered by the judge.

Divorce appraisals require a well-supported, professional appraisal that is defensible in court.  The appraisal should be completed by an appraiser with experience in providing both current real estate value as well as retrospective value, as one or both may be required by the courts. A Retrospective Appraisal means the value of the property is based upon a date in the past (perhaps the filing date, the date of marriage, the date of separation or the date of purchase) rather than the current date.  If your case were to go to court, the appraiser may be called as an expert witness.  It is imperative that the appraiser’s value and adjustments made in the report are clearly explained and supported. Our knowledge and experience in Greenville and the surrounding suburbs means that you can trust us to handle your divorce appraisal with the utmost professionalism, courtesy, and confidentiality.  Unless required by law, we will not share your appraisal with opposing attorneys, spouses, or anyone else without your permission. I encourage you to call me directly at 864.252.9205 for any questions regarding a divorce appraisal or any other appraisal related questions.

Also, see the video below that shows what you can generally expect during the process.

Greenville Bankruptcy Appraisal: Why is it Needed?

One of the most difficult situations one has to face is whether to file for bankruptcy or not. However, the hassle of being financially drained doesn't end in making that decision, the greater challenge is the whole process you have to go through. When filing for bankruptcy you need to submit a thorough report of all your current assets, and most often, a debtor's greatest asset is his real estate holdings. The best way to get a clear and detailed summary of all your real estate assets is by getting a bankruptcy appraisal.

An appraiser will analyze all your estate properties and provide a credible report of its current value. You may hire your own appraiser or let your lawyer handle the process for you. Regardless of who will choose the appraiser, you need to be sure you have a credible person who will calculate and examine your assets. It can also help if the appraiser will be willing to testify in court if there is a need to.

It is critical to select your appraiser because the bankruptcy judge will either accept or reject your home valuation based on the documents submitted to the court. Appraisals come in different forms, there are Automated Valuation Models that can give you a low cost valuation of your properties, but is less accurate and wouldn’t stand out in court. There are also Desktop and Drive-By appraisals which are provided by licensed appraisers but have limited scope reports. Then there is a full appraisal by a licensed appraiser which provides a very detailed report of your real estate holdings. Statistically speaking, a full appraisal is the most credible way to prove to the court that you have a precise bankruptcy documents. It costs a bit more but your assurance of getting approved by the bankruptcy judge is raised to 99%.

The bankruptcy judge has the final decision for all proceedings, thus it is necessary to provide the court with a thorough, detailed and strongly supported report. Veteran bankruptcy judges only trust state-licensed appraisers with a proven history of preparing accurate appraisals.

Precision Appraisals exists to offer excellent customer service, accurate appraisals and quick turn times. Our Sr. Appraiser, Ken Lavertu is very experienced with the intricacies and challenges of the appraisal industry. He is highly aware of the unique needs and the time sensitivity of the situation, and makes sure the appraisal process will go as smooth as possible for the parties involved. Precision Appraisals specialize in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.

Give us a call today with any questions you might have about Greenville bankruptcy appraisal or any other appraisal needs, and also check out our ‘Praise’ page and see what others are saying about Ken Lavertu and Precision Appraisals.

What Areas Do We Cover? And What Do We Appraise?

It is important to ensure your appraiser has good local knowledge. Our specialty is the following areas:

• Greenville
• Spartanburg
• Anderson
• Simpsonville
• Taylors
• Greer

We appraise all kinds of real estate from traditional family homes to condos, farms and everything in between.

Location Matters! Values in Anderson, South Carolina

Location, location, location! This is a real estate mantra most buyers and sellers are familiar with.

Do you know what makes up the value of your location? A real estate appraiser is skilled in knowing your area inside and out, in order to arrive at the precise value of a home.

Here in the next of a series on locations I take a look at Anderson, South Carolina and determinants in property values in the area.

About Anderson

Nicknamed the 'Electric City' and South Carolina's 'Friendliest City', Anderson is a modest sized city in The Upstate area of South Carolina. This charming city has a number of feature points for value for buyers and sellers.

Economy and Jobs

Manufacturing is the economic driver in Anderson. While manufacturing has struggled in other areas of America, Anderson's manufacturing base has been nurtured with business friendly policies. Unlike several other cities in the area Anderson has only a modest professional jobs based, for this reason Anderson receives a tick for value, short of a big tick.

Education

For a smaller city Anderson is still well served educationally. Anderson is home to a private university and a range of public and private schools. A big tick.

Transport

Anderson is currently undergoing planning to improve its public transit options. Value seeking buyers can often find value in cities with good future plans. A tick for this area.

Arts and Culture

Anderson's downtown area is continuing an improvement program, with a number of historic buildings continuing to be restored. This should continue to support the modest but thriving lifestyle in Anderson with shopping, creativity and a pleasing Southern city charm.

Discover The Value In Your Anderson Home

To discover the precise value in a home you are buying and selling please contact me on:

Phone: 864-252-9205

Email:  info@precisionappraisals.org

Home Measurement Services

Unlock the value in your home with a home measurement today! Home measurement is the little known secret to your home's value.

Did you know many homes are valued based on similar homes in the area and housing market conditions based on an assumed measurement of square footage?

An error in measurement, however small, can wind up costing you thousands when applied across the entire square footage.

 Why Have Your Home Measured?

Home measurement can assist in the following:

·         Selling your home for the best value

·         Checking the accuracy of the details of a home you wish to purchase

·         Accuracy in insuring your home

·         Unlocking the value in your home for borrowing, or some issues such as raising a bond loan

·         Assessing a home's value in divorce or bankruptcy

Did You Know Your Home Measurement Might Be Incorrect?

Perhaps your home came with a measurement when you built it or bought it. Did you know this measurement might be wrong?

Precision Appraisals specializes in delivering accurate home measurement to current market standards.  We can assess all elements that derive a home measurement.

Don't leave things to chance - your home is often your greatest asset and it is key to value to know every square inch.

Why Do I Need A Professional?

There are a number of tools online to help homeowners discover their measurements. However measurements that are accepted by a broker or a court generally need to come from an expert.

Given that even a small error in calculations can result in a big loss this is not a job to DIY! A professional appraiser can give you confidence in a valuation.

What If My Home Is Smaller Than Thought?

Occasionally a home will come in under a previously presumed measurement. Don't fear! What goes into calculating a home's value is broader than just the square footage.

If you have concerns of the value of your home after a measurement this may be a good chance to discuss having a full appraisal done of the value in your home.

How Much Does A Measurement Cost?

Measurements are relatively inexpensive give the return they give by providing a secure assessed measurement. You could save thousands!

Who Else Needs A Home Measurement?

Homeowners are not the only group requesting measurement services. Brokers, developers and lawyers may at times require the services of a professional home measurement.

Precision Appraisals offers special pricing for ongoing work with others in the industry or related industries.

Do You Offer A Second Opinion?

Yes! Unregulated or DIY home measurements abound, as do measurements performed to different specifics than are currently used in home sales or court cases.

A second opinion on your home's measurement is a wise move if you have doubts about your current measurement.

All information is confidential to the client unless otherwise stated.

Discover your home's value today with a home measurement, contact Precision Appraisals, industry and trade enquiries most welcome.

Covering areas:

·         Greenville

·         Spartanburg

·         Anderson

·         Simpsonville

·         Taylors

·         Greer

How To Select A Real Estate Appraiser

Choosing a real estate appraiser is an important task. An appraisal can be the key point of obtaining finance, a court decision and much more. 

Many people do not get a choice in appraiser, such as one appointed by a lender. However you often have surprisingly flexibility to choose your own lender or to recommend a preferred appraiser you would like to use. 

When obtaining your own appraisals, especially in a second opinion case such as a low appraisal, the field to choose from can seem wide. 

How do you select the right real estate appraiser? Here are key qualities to look for you in your real estate appraiser:

Experience

An experienced appraiser brings a wealth of knowledge to the table. Ask your appraiser how long they have been practicing for.

Experience can be further broken down into general experience, local experience and house type experience.

A good appraiser will be happy to answer questions about how long they have been an appraiser, how long in the local area and their level of experience with the type of property.

Something to note is that appraisers cover a wide range of area, and a coverage area of several hours driving time is not unusual.

Certifications and Licensing

A good appraiser is certified and licensed. Your appraiser should be able to provide specific details or their education in their area and a copy of their relevant registrations if requested.

Tip: ask your potential appraiser about their ongoing education efforts. A good appraiser is always looking to improve their skills and remain current.

Methodology Used In Appraisals

In the Internet age, it is all too easy for an appraiser to use off the shelf forms or to rely too heavily on software.

A good appraiser uses a mixed methodology of software, various data and experience and sound judgment.

A trusted appraiser will be happy to discuss with you the methodology of how they arrive at an appraisal. 

Keeping Up To Date

Home appraisal is a fast moving business! It is too tempting for some appraisers to rely on dated data or methodologies.

A top appraiser is aware of market trends and movements in your neighborhood. 

This can make a big difference to your home value as many areas begin to recover from the Great Financial Crisis - ensure your appraiser is up to the minute.

References

A quality appraiser has a happy client base! References should be available to you on request, preferably from similar type homes or your local area.

Ask About Your Role

Did you know you might provide an appraiser with information to help them form a decision? 

A valued appraiser appreciates a client's input and solicits answers to any questions they have about the property. 

What Happens If The Appraisal Is Low?

An ethical appraiser makes no promise you a high appraisal. Appraisals are fair and unbiased.

You do have rights in the occasion of a low appraisal. Before beginning with an appraiser perhaps ask them what the appraisers approach is to a low appraisal and your right to dispute it. 

A quality appraiser will inform about their dispute process and reassure you they will discuss any concerns you have after the appraisal report is delivered.

What Areas Do You Cover?

Precision Appraisals covers 

• Greenville

• Spartanburg

• Anderson

• Simpsonville

• Taylors

• Greer