Valuations required for the settlement of an estate or for litigation require an experienced appraiser that is comfortable in proving support or defending their work. Many times, these types of appraisals can be challenged and an appraiser that understands the valuation process and that can defend their work will be needed to get you through this process. Gardiner Ray, LLC has this type of experience and works to provide a quality report.
Gardiner Ray, LLC has had experience in a wide variety of valuations and/or consultations in this way. The following is a summary of problems and/or valuations in which we were involved:
- The change of value of a home as the result of tree that was removed
- The contributory value of hypothetical assumed pool of a residential home
- The change of value of a home as the result of the change of the color of a roof
- Retrospective value prior to the damage and destruction of a home
- Analysis of value after remediation of mold
- Analysis of value assuming a stabilized property that has structural deficiencies
- Analysis of value after assumed repairs and stabilization of structural deficiencies
- Consultation and appraisals related to divorce proceedings
- Valuations prior to foreclosure
- Valuations as related to federal court bankruptcy
- Valuations related to potential mortgage fraud
- Consultation and valuations related to property tax lawsuits
In the event of the death of a loved one, an appraiser can help you understand the value of the real estate that makes up an estate. Many times the settlement of an estate will require the guidance of an attorney or accountant to fully understand what is required of the appraisal to properly settle the estate. Gardiner Ray, LLC has been involved in numerous appraisal assignments used for this purpose. We understand that a retrospective appraisal (an appraisal as of a historical date) is needed in many of these instances and know the appropriate considerations when providing this specialized service.
An appraiser can be hired for numerous reasons as it relates to litigation support. Appraisers may be hired to provide an opinion of market value as of a current date, retrospective (historical) date, or as of a future date. In addition, appraisals of this type are often asked to consider scenarios or conditions of a property that may not be currently true but could reasonably be true. However, many times appraisers are just asked for a consultation to assist the attorney to understand the scope, nature, or process of valuation as it relates to an opposing view.
Appraisals and/or consultation of this type typically require a sophisticated appraiser that not only fully understands the basics of the valuation process but also the intricacies that are a part of the valuation process. A strong knowledge of the guidelines and ethics of an appraiser must also be a strength of an appraiser used in this role.