Here's the one thing (pertaining to divorce cases) that is directed to lawyers, clients, mediators, and judges (dear God help me...so many judges are not even interested and they're the ones perpetuating this costly policy):
DO NOT ORDER YOUR OWN APPRAISAL.
Parties shouldn't. Lawyers shouldn't. Judges shouldn't.
JUST.
STOP.
IT.
It is generally not a good idea to order your own appraisal when buying or selling a property. Appraisals are an unbiased assessment of the value of a property, and it is essential that they be conducted by a qualified and independent appraiser.
If you order your own appraisal, there is a risk that the appraisal will be biased in your favor. This could lead to an inflated value of the property, which could cause problems down the road if the true value of the property is later discovered to be lower.
Additionally, lenders may be less likely to accept an appraisal that has been ordered by the borrower. Lenders typically require appraisals to be conducted by an independent, third-party appraiser to ensure that the value of the property is accurately reflected.
Overall, it is generally best to allow an independent appraiser to conduct the appraisal for you. This will help ensure that the value of the property is accurately reflected and that the appraisal is accepted by lenders and other parties involved in the transaction.
In today's course, of course, I'll show you WHY. But I will also show you.
Oh yes, and I'll show you why - AS A LEGAL MATTER - no one should order their own appraisal in a divorce action when establishing values of assets to be divided.
But, first, I'm repeating it... DO NOT ORDER YOUR OWN APPRAISAL
In the end, ordering your own appraisal should be left to the professionals who are familiar with the appraisal process and have the training and tools needed to assess a home accurately. That way, you can be sure the appraisal is completed correctly, quickly, and efficiently.
Apply now to get a loan, We can order the appraisal for you! :)
If you are in search of a value, you can use The Gifford Group can provide CMA or BPO.
Free and Accredited Comparative Market Analysis
Get your No-risk CMA, Done by a Local Licensed Realtor with a Proved Track Record. Don't be a Victim of Zillow, Learn What Your House is Worth Today!
We have written a whole article on the 4 Different ways to value a property.
Watch our youtube on CMA VS Appraisal. What is the Difference?
What is a CMA? A Comparative Market Analysis evaluates homes that have been sold recently and are similar to yours (comps). This information is gathered by real estate agents from the multiple listing service (MLS), which pools information from other agents on for-sale listings.
A competitive marketing analysis is done by looking at homes that are similar to yours in terms of size and features. CMAs list properties that are currently on the market, pending sales, sold properties, and expired properties. The CMA will also include the low, median, and high prices of your home, as well as the average and median days on the market you can expect for your home. Despite the fact that it's not an exact science, it is still a bit of fine art to know exactly what a home should be listed at. It would help if you got a fairly accurate figure from a CMA regarding a proper list price.
This can help you answer the question, What is my house worth? Once we know how much your home is worth, we can tell you How Much Will I Make Selling My House?
America's Premier Divorce-Lending Authority
Read why you should not Sign that Special Warranty Deed Yet
Every situation is different, but we are here to help,
Every Client's future is important to the Gifford Group.
You can reach both Scotty Gifford and Amber Gifford at TheGiffordGroup.net
https://thegiffordgroup.net/divorce-real-estate
YouTube: https://www.youtube.com/channel/UCqmHagYmJsqAZwP9-mVeb9g
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