Equitable Distribution (Divorce) Appraisals
Finalizing a divorce involves many decisions, including "Who gets the house"? There are generally two options regarding the house - it can be sold and the proceeds divided, or one party can "buy out" the other. In either case, one or both parties should order an appraisal of the residence. Equitable Distribution appraisals require a well supported, professional appraisal that is defensible in court. When you order an appraisal from me, you are assured that you will get the best in professional service, courtesy, quality, and confidentiality. I feel that my purpose is to advocate for the property's value. I will thoroughly research the market and deliver a comprehensible report. My goal is to have both parties understand their property's value.
In North Carolina like most states, equitable distribution of marital assets is governed by state statutes. You can view a copy of one of the main chapters in this statute by clicking this link: Chapter 50, Sections 20 & 21. To see other North Carolina statutes regarding Equitable Distribution, go to : NC Statutes. When you get there, search for "equitable distribution" and use the quotation marks. This should return about 30+ entries. Chapter 50 is where most of the statutes that govern divorce.
Sometimes lawyers I work with want a report with value as of the date of separation, and another report with current market value. I can provide both of these values with one detailed site inspection. I do this by asking the details regarding condition at the time of separation.
Typically, when I arrive at a home, I start with going through the interior twice. The first time I focus on features, finishes, and condition. I open every door, go in every room, and look in the attic and foundation. I don't grade on or off for neatness, because I'm looking at the home as though it's vacant. The second time through I do a floor plan and take interior photos. The pictures help me detail current condition and finishes. I'll measure from the inside for open areas and offsets like dormer windows. After the interior, I measure and inspect the exterior. For measuring I use the Disto by Leica, a laser device, Dimensions are taken to the nearest 100th of a foot. I lay out the sketch using Apex software. The sketch has to close to calculate square footage, so I can grade my accuracy. I'll remeasure if I'm off more that three inches horizontally or vertically. Accuracy is my goal in every step of the process of estimating value.
Attorneys and accountants rely on my values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property. I understand their needs and am used to dealing with all parties involved. I provide appraisal reports that meet the requirements of the courts and various agencies.
As an attorney handling a divorce, your needs often include an appraisal to establish fair market value for the residential real estate involved. Often the divorce date differs from the date you order the appraisal. I am familiar with the procedures and requirements necessary to perform a retrospective appraisal with an effective date being the date of separation. I can review other appraiser's reports, so that you have a profession's opinion of the other appraisal report. My relations are good with the local broker community, so I can find out more about the details of a comparable's condition along with terms of sale. Comparable sales data goes back to 1995, and in Orange County my records go back to 1992. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds me to confidentiality. I go beyond those standards to ensure the fullest degree of discretion. I place the strictest interpretations on confidentiality, and continue these confidentiality restrictions through my life time.
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