Serving our neighbors in North Texas since 1992
Accredited Member BBB - A+ rating
Veteran owned company
Serving our neighbors in North Texas since 1992
Accredited Member BBB - A+ rating
Veteran owned company
- When managing your most expensive financial asset turn to an experience/trusted professional for quality that exceeds your expectations.
- We can assist to help you get through this challenging time promptly and as efficiently as possible.
Career properties appraised and reviewed.
Asset Volume valued.
Though a divorce is never easy, a divorce is simpler, when you have an understanding of the value of your assets. This will save you considerable time, money and frustration.
Divorce appraisals are very detailed with extensive research conducted as there are many parties involved who have their own personal interests.
Your attorney may have informed you to have your assets valued as one of the steps in the divorce process. Since the home is typically the largest asset that a person owns, understanding the value of this asset often weighs in the balance of the future direction for that person's life after the divorce.
Since this asset is a shared asset, like other shared assets its value will need to be divided fairly in order for the divorce to be equitable. Therefore knowing the value of this asset is important to the process. This is where the divorce appraisal plays a key role.
The value of this asset will allow everyone involved to ensure that both parties receive their fair share of the marital assets.
The appraisal of the home also plays a key role in planning your post divorce financial future.
The divorce may have an impact on your personal tax situation. Consideration of capital gains needs to be weighed as the sale may count as income which will need to be accounted for. This is best discussed with your CPA or tax advisor.
Often there are several parties involved with a vested interest. There needs to be an unbiased voice that can provide a clear understanding of the value of the asset. Not having a vested interest in the property allows for the appraiser to provide this unbiased voice.
The Standard of Value varies from state to state. Court decisions have been known to interpret the Standard of Value differently. One court may use "Fair Market Value" while others may utilize "Investment Value".
As a general rule the value accorded community property in the state of Texas that is to be divided in a divorce proceeding is "Market Value". Reference Mandell v. Mandell, 310 S.W. 3d 531 (Tex. App.2010). Further, "The price at which property would change hands between well-informed, willing buyers and seller on an arms length basis. (Shannon Pratt and Alina V Niculita, The Lawyers Business Valuation handbook, second edition, American Bar Association, 2010, p.312)
Fair Market value has been defined as the amount that a willing buyer who desires to buy, but is under no obligation to buy would pay to a willing seller, who desires to sell, but is under no obligation to sell. (Reference - Standards of Value: Theory and Applications, Second edition by Jay E. Fishman, William Morrison)
STEP ONE - OUR TEAM WORKING FOR YOUR BEHALF:
On your directive or the directive of your attorney we will issue a request for you to complete - Letter of Engagement. This will outline the steps for the completion of the appraisal. We will make sure everything is on track for the appraisal to be submitted to you directly or if requested by your attorney then directly to your attorney in a timely manner- Typically 48 hours.
STEP TWO - AT YOUR CONVENIENCE SCHEDULE A TIME TO FOR US TO VISIT THE PROPERTY:
Then it is simply a matter of scheduling for a time to visit the property that is most convenient for you. At this time the property will be measured, photographed and viewed for the materials and craftsmanship employed in the construction of the property. This is a time for us to learn and for you to discuss with us the renovation/remodeling completed or other issues of concern. These steps should be completed in less than one hour.
STEP THREE - COMPLETE THE ANALYSIS / SUBMIT THE APPRAISAL.
Rest assured that as a State Certified Real Estate Appraiser, who is familiar with the appraisal process in over 30 years of appraising, combining human expertise with cutting-edge technology, the appraisal will be completed in an expeditious and thorough manner for you and your attorney to make the best decisions for you!
Typically 48 hours.
In most circumstances, you and your spouse have 2 options:
First - one spouse can remain in the property while the other finds a different residence
Second - both members can move and sell the property.
- Children - the ability to maintain stability for your children
- Emotion - how much each of you loves the dwelling
-.Financial - the ability to maintain the cost of the dwelling on one income
- Tax and Legal ramifications of selling the property
- Court - the involvement of divorce court judges in the making of decisions
If one spouse should choose to buyout the other spouse this may be accomplished on a direct or indirect basis. In the case where neither spouse wishes to keep the house then the house is sold.
Direct Buyout - the retaining spouse will often refinance the underlying mortgage which places the dwelling in their name. This may also provide for the funds to buyout the other spouse for their fair share of the ownership of the dwelling.
Indirect Buyout - the value of the dwelling is established by the appraisal and is assigned to the spouse retaining the dwelling. The other spouse then receives other assets of equal value in return.
Sale - On sale the profits from the sale are then distributed to the divorcing parties.
Appraisal - In all the above cases determining the value of the dwelling is essential..
For most, their dwelling is their most valuable asset. The higher the value the more you are entitled to at the time of negotiation. It is best to present the asset in its most favorable conditon.
- consider making any repairs that may deem to be an unsafe conditon
- inform the appraiser of all updating and remodeling completed
- present the dwelling in its most favorable condition
If in agreement, the cost of the appraisal should be split between the divorcing parties. Our office can accommodate you with this process.
If one spouse should not agree to this then you should hire the appraiser and then you can work with your attorney to petition the court to require your spouse to pay their portion as part of the divorce proceedings.
Ask us about Discounts for Veterans, Firemen, Police and Teachers.
At Divorce Appraisal Advisors, we are committed to providing our clients with the highest level of professionalism, integrity, and accuracy in all of our appraisal services. We understand the importance of our work and take pride in delivering quality results.
Mon | 09:00 am – 05:00 pm | |
Tue | 09:00 am – 05:00 pm | |
Wed | 09:00 am – 05:00 pm | |
Thu | 09:00 am – 05:00 pm | |
Fri | 09:00 am – 05:00 pm | |
Sat | Closed | |
Sun | Closed |
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.