Real Estate Appraisal

The Law Firm of Debra J. Braselton, PC believe that the divorce process requires a multidisciplinary approach. We work with a range of other professionals.

REAL PROPERTY VALUATION
By Brian Weaver of Brian Weaver Appraisals, P.C.
8832 West Pebble Beach Lane
Orland Park, IL 60462
Tel: 708-364-0881 - Fax: 708-364-0853
weav@naifa.com

He said. She said. It’s the centerpiece for the dissolution of a marriage. This is why you shouldn’t rely upon guesses, unsubstantiated opinions, or gossip as to what the value of real property might be.

Some spouses declare that property values have soared with no end it sight, while others proclaim that the market dried up long ago. The task for the real estate appraiser is to reveal the market value of the real estate as near to the date of dissolution as possible.

Unlike business appraisers that focus on going concerns, inventories, balance sheets, good will, etc., real estate appraisers focus exclusively on “bricks and sticks”.

Unlike your attorney who is an advocate on your behalf, a real estate appraiser is an advocate for the property, only.

A professional real estate appraiser should be experienced in preparing reports for litigation. Phonebooks are filled with appraisers. However, litigation support is a highly specialized area with few participants. Less than 7% of real estate appraisers will agree to testify. Fewer than that will do it competently. Before you engage an appraiser, ask them if they are willing to testify. Unlike yourself, once an appraiser is deposed or under cross examination, the appraiser has no benefit of counsel. They must be able to explain, in easily understood terms how they arrived at the final value estimate.

Occasionally, appraisers are told by a spouse to “keep the value down”, or “get the value as high as possible”. It is important to understand that appraisers are not “hired guns”. Those who reach targeted values without the ability to support the conclusion will end up being discredited in court and that the instructing spouse will have wasted a lot of money in the process.

Appraisers perform a range of functions from producing detailed written reports to consulting, and examination of testimony provided by other witnesses.

A competent real estate appraiser should be certified in the state that they practice, although it isn’t a requirement for litigation support in most jurisdictions. They should be a designated member of a nationally recognized appraisal organization, although once again, it is not mandatory. If the appraiser that you’re considering isn’t either; ask why not?

After all, knowledge is power. Only a professional can provide you what you need and deserve.

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About The Law Firm of Debra J. Braselton, P.C.
Debra Braselton is an experienced adoption, divorce, and collaborative law attorney practicing in Chicago, Oak Brook, Naperville, and other nearby areas in Illinois. Her caring approach and vast experience in practice can bring invaluable knowledge to your adoption, divorce, or collaborative law case. If you are in need of an experienced and professional law firm practicing divorce law, adoption law, family law, or collaborative law in Illinois, call The Law Firm of Debra J. Braselton, P.C. today.

Please contact us for more information:

The Law Firm of Debra J. Braselton, P.C.
One Oakbrook Terrace, Suite 418
Oakbrook Terrace, IL 60181
Telephone (630) 261-1222
Facsimile (630) 261-1229
info@family-law-illinois.com