Butler Property Appraisal Lawyer
Division of marital property is often a point of contention during divorce. Both parties want to ensure that they walk away from the marriage with their fair share in assets, and sometimes valuable or hard to value assets can get in the way of this, casting doubt and confusion on who gets what and what specific items, businesses, or properties are really worth. Real estate, art, family heirlooms, jewelry, collectibles, and other high-value assets should be properly valued by a professional in order to understand the precise value of the property in question, and to ensure that you receive a fair portion of the marital assets. The Butler property appraisals lawyers at Bunde & Roberts, P.C., have many years of experience handling property appraisals, and work with professional real estate appraisers, art appraisers, jewelry appraisers, and others in order to ensure our clients receive a fair and favorable outcome.
Why a Real Estate Appraisal is Necessary
Since 2000, the average annual home appreciation rate in Butler is 0.89 percent, according to Neighborhood Scout. As such, the average home purchased for $200,000 in 2002 has a value of close to $235,000 in 2020. However, many homes appreciate much faster than this. Depending on the location of the property, the type, remodeling, and other characteristics about the neighborhood or specific property site, it is not uncommon for some homes to increase in value by five percent per year. At this rate, a home purchased for $200,000 in 2002 would now be worth over $481,000. Real estate valuation is one of the most important aspects of division of marital assets, as the home is usually the most valuable asset married couples have. If there are multiple properties, each must be valued. Certain complications of valuing real estate may arise, such as the refinancing of a mortgage. Real estate valuation must be carried out by qualified professionals.
Valuing Art, Jewelry, Collectibles, and More
Just because a piece of jewelry cost $500 in 1970 does not mean that is its current value. Jewelry appreciates differently than most other items. In fact, the inflation rate for jewelry is 1.54 percent per year, according to the U.S. Bureau of Labor Statistics. Based solely on jewelry inflation, a gold watch that cost $1,000 in 1986 costs $1,684 in today’s dollars. The value of jewelry and other collectibles can increase based on the rarity of the item, the condition, the make, and more. Art, vintage automobiles, high end clothing, baseball cards, and other collectibles also need to be valued during divorce, and our attorneys can handle it all.
Call Our Butler Property Appraisal Lawyers Today
In order to secure fair division of marital assets, your home, valuables, and other collectibles must be appraised before anything else happens. Once the value of certain assets and property is known, only then can negotiations begin. Call the Butler property appraisal lawyers at Bunde & Roberts, P.C. today at 412-391-4330 to schedule a free consultation.