The divorce process is known be lengthy, taking anywhere from several months to over a year depending on a variety of factors, such as whether the divorce is contested. However, there is no reason for divorce to take longer than necessary if it can be avoided, and divorce appraisals can be helpful in moving the process along.
A divorce appraisal is key to the distribution of property between the two divorcing spouses. Before property can be distributed fairly, it’s important to determine the value of said property so that there is a factual foundation during settlement.
Here are a few ways that divorce appraisals can help streamline the divorce process:
- Reduces Conflict – A divorce appraisal provided by an independent third party establishes an unbiased valuation that can help to reduce emotional arguments between spouses. The less conflict there is, the quicker the distribution of assets can be settled.
- Provides Objective Evidence – An IRS-compliant, USPAP-standard divorce appraisal can help protect both parties’ interests while providing court-ready evidence for attorneys, mediators, and courts. This may help contested divorces proceed faster.
- Meets Lender Requirements – If one spouse wishes to keep their home, perhaps to maintain stability for their children, their lender may require a formal appraisal before they will approve a refinance of the home. The sooner this requirement is fulfilled, the sooner the divorce can be finalized.
At C and J Appraisal Company, LLC, we provide divorce appraisals in the Triad. To learn more or inquire about obtaining a divorce appraisal, contact us today.