St Charles Real Estate Appraisals Attorneys

Real Estate Appraisals Lawyers Serving Kane County

Dividing marital assets is often one of the most complex and contentious areas of a divorce. In Illinois, marital property is divided according to the principle of equitable distribution, which entitles both spouses to a fair division of assets. Determining precisely how much each asset is worth is an essential part of the property division process. In order to do so, you must obtain accurate appraisals. At the Kane County divorce law firm of Goostree Law Group, we help our clients through the valuation process, including securing proper real estate appraisals.

Valuation of Real Estate in Divorce in Kane County

For many couples, real estate assets account for the bulk of their marital property. Whether it is the family home, investment property, vacation property, or business property, ascertaining the monetary value of these assets is key. Finding a real estate appraiser who can and will support litigation if necessary can be a challenge. When choosing an appraiser, it is important to do your due diligence. You should hire an appraiser who is certified in Illinois and who is a member of a nationally recognized appraisal organization.

When the appraisal is needed for property division purposes, it is also important to choose one who can support his or her value estimate in court. It is not uncommon for spouses to disagree on the value of the real estate property in question in order to further their own financial interests. For example, if one spouse hopes to retain ownership of the family home, that spouse may wish for the appraisal on the home to be lower so that the other spouse will not be compensated with as many other marital assets. Each spouse may obtain their own real estate appraisal, and the appraisers may have to testify to support their findings.

Unfortunately, most real estate appraisers are not experienced at testifying in court, and many are not willing to do so. Before hiring an appraiser, it is wise to make sure the appraiser can and will testify if the appraisal is questioned. Our attorneys have relationships with real estate appraisers who have the skill and experience to competently testify when necessary.

Contact Our St. Charles Divorce Attorneys for Real Estate Appraisals

If you are considering a divorce or have already begun the divorce process, and you own real estate that is marital property, contact us at 630-584-4800 to schedule a free consultation. We will discuss your situation and explain what you can expect from the property division process. Our attorneys represent clients residing throughout Northern Illinois, including Kane County and the surrounding areas.