Divorce Appraisals in the Sacramento Region

I am typing up an appraisal report right now for a divorce and I figured I’d take a minute to give a little window into one of the facets of our business. My company works with home owners and attorneys to provide real estate appraisals during the process of divorce. We are typically contacted by either the home owner or attorney to provide our services. We know divorce is not an easy time, so we do our best to make the appraisal process as smooth as can be.

Here are a few tidbits about the difference between an appraisal prepared for divorce and a typical loan appraisal:

  • The divorce appraisal is very likely to have a retrospective date of value, meaning that the appraised value is based upon a date in the past (the filing date) rather than todays date. A real estate appraisal for a loan uses present day market value in most cases.
  • Sometimes both the retrospective value and current market value (as of today) are needed for divorce.
  • The appraiser in a divorce situation may be called upon to be an expert witness if the case goes to court, so it is crucial to include additional research and data within the appraisal report to ensure that value and adjustments are clearly explained and supported.
  • The divorce appraisal is not completed according to Fannie Mae guidelines as many loan appraisals are.
  • The divorce appraisal is the same as a loan appraisal in terms of confidentiality. No information regarding the appraisal or appraised value is ever shared by me with any other party than the client who ordered the appraisal (unless where required by law or subpoena to do so).
  • The appraiser is bound by USPAP in both types of appraisals. These are the uniform standards that guide the appraisal profession.
Whether you are an attorney or home owner, if you have questions regarding litigation or divorce appraisals in the Sacramento Region, please contact us at 916-595-3735 or www.lundquistcompany.com. We serve the counties of Sacramento, Placer, Yolo, El Dorado, San Joaquin, Stanislaus, Merced, Sutter, Solano and Yuba. At Lundquist Appraisal Company you can expect professionalism, confidentiality, punctuality, courtesy, and reasonable rates.
www.SacramentoAppraisalBlog.com Divorce Appraisals in the Sacramento Region
 You can see our divorce appraisal website also at www.SacramentoDivorceAppraisals.com.

Hiring an Appraiser When Title Transfers (Sacramento Region)

papa-001aWhenever title transfers on a deed, a real estate appraisal is usually needed. Situations like the death of a loved one, inheritance of property, divorce, refinance, estate settlement, and buyout of other persons on title warrant a credible real estate appraisal so that decisions can be made about the property. 

Tips for Hiring an Appraiser for a Title Transfer Situation:

  • Make sure the appraiser knows the real estate market where the property is located. This is key toward producing a reliable appraisal. It’s okay to ask the appraiser questions about his/her experience.
  • Help the appraiser understand why the appraisal is needed. Did you inherit property? Are your elderly parents moving and title is transferring to you? Was there a death in the family? Is there a divorce or break-up in progress? The appraiser is bound to confidentiality and cannot by law share your situation with others.
  • Inform the appraiser what type of value is needed. An experienced appraiser will be able to easily figure this out with you in just a couple of minutes of conversation. Is this a market value as of today’s date or do you need an appraisal based upon a previous date? For example, in estate settlement appraisals, it is common for the appraisal to be based upon the date which title was transferred in the past or the date of death of the loved one. This is called a “retrospective value”.
  • If you are a home owner working with an attorney and it would be easiest on you for the appraiser to work directly with the attorney, that’s definitely doable. I see it work out either way and I defer to whatever the client needs and prefers.
  • Remember that the lowest-priced fees for appraisals usually produce the lowest-quality of work (my fees are very reasonable). The last thing you want is for an unreliable appraisal to get in the way of what you are trying to accomplish with a transfer of title.

If you have any questions about the information above or would like to talk more, feel free to call me at 916-595-3735, see my company website at www.lundquistcompany.com or email me at ryan [at] lundquistcompany [dot] com.  I am available to help you in your time of need and I am glad to speak with you about your situation.