For many couples getting a divorce, the family residence will be their largest asset. It's important that it is properly valued, with both sides agreeing, and that it is equally divided.
Through years of experience, the attorneys at Richard Ross Associates know that building a strong team of experts is imperative to winning our case and protecting our client's assets. Because of this, we regularly work with property appraisers, real estate agents, mortgage brokers and other professionals who can assist in the valuation, and if necessary, the sale of the family residence.
For example, let's say both parties have owned and lived in the residence for 15 years. The husband claims that he made a number of improvements over the years and wants the value of these improvements added in to the valuation of the home before the wife bought out his interest in the property. Let's say we took his word and added value to the residence, therefore increasing payout from the wife to husband. What happens in a few years when the wife tries to sell the residence? What happens if the wife finds out the value of the improvements made are far less than what he claimed? These are questions Richard Ross Associates wants our clients to never have to ask. In this example, Richard Ross Associates would hire an experienced property appraiser to inspect the house and determine the fair market value for the property, including any improvements.
Without these experts, an over-valuation or under-valuation of the residence could affect the final distribution of assets.
If you are going through a divorce and have any marital assets, make sure to contact Richard Ross Associates today.