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 as part of your divorce property settlement. One of the largest assets for many people is their home. Before the divorce will 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? A Certified Residential Appraiser should perform your appraisal in order to obtain an appraisal that will hold up (i.e, be defensible) in court.
In fact you may even need a retroactive appraisal, (an appraisal where the date of the appraisal is different than the date the report is ordered, or the date the appraisal is performed). For retroactive appraisal, the effective date needs to match the date of the marriage, or another key date in the past. You may also need to be able to substantiate the value of the property when you purchased it, if the property was originally (or still is) the property of one owner prior to the marriage.
Raleigh Regional 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 settlement will be handled with discretion and confidentiality.