The appraisal Process
- Initial assessment/conversation with the client
- Market and neighborhood research
- Physical inspection of the property (e.g. measurements, exterior/interior photos, and discussion of improvements to the property)
- Analysis and development of final opinion of value
The finished product is a multi-paged PDF document that is delivered via email.
All appraisals are developed in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), the generally recognized ethical and performance standards for the appraisal profession in the United States.
a short overview
When a loved one passes away, it can be one of life’s most challenging experiences. There is a series of legal processes needed to reallocate ownership of the decedent’s assets and belongings to the heirs or beneficiaries, including real estate.
During the process of settling the estate, an estate appraisal is used to determine the Fair Market Value of the property as of the date of death of the decedent. This process can be facilitated through appropriate estate planning in the form of a trust or will and it is essential when the property will be gifted or divided after death. Keeping an up-to-date appraisal on file will therefore help determine the accurate changes in property value and can help reduce the time required in settling the estate.
The main reason for an estate appraisal is to determine the amount of estate taxes due to the IRS that are also referred to as “death” or inheritance taxes. Belle Haven Appraisals follows the appraisal requirements and regulations set forth by the Internal Revenue Service to ensure the highest degree of accuracy.
Trust & Estate Matters
A pre-appraisal is a valuation before listing a property on the market. In most cases a comparative market analysis (CMA) usually prepared by a real estate agent is sufficient. However, in certain situations, a pre-appraisal can help you obtain a more accurate home value.
Maybe the property has unique characteristics relating to the location, site size, view, gross living area, additions/conversions, and extra features such as an additional dwelling unit. You might disagree with your real estate agent on the list price of the property, or you are planning on selling the property yourself. In this case, a pre-appraisal can give you a clear answer about what the home is worth.
Pre-Appraisal
Review/Second Opinion
An appraisal review refers to the “process of developing and communicating an opinion about the quality of another appraiser's work”. Obtaining a second opinion often reinforces your confidence in the appraisal report and offers a degree of due diligence to the process.
An appraisal review provides a tool for assessing the credibility of the original appraisal by determining whether appropriate data has been gathered, the data has been analyzed logically, and the conclusions are consistent with the information presented in the report. Likewise, appraisal reviews can be useful in supporting litigation and dispute resolution cases.
Divorce or legal separation is a challenging and complex process. In an emotional and stressful situation, sorting through financial affairs and dividing the marital assets can be particularly intricate. An appraisal of your property is typically necessary to determine the market value of the real estate that will be divided as part of your marital settlement agreement.
Under California law, property acquired during the marriage by either spouse is presumed to be community property and in the event of a divorce or legal separation, the community property is generally divided equally (please consult with your attorney).
My focus is to provide equitably and practical property appraisal services to aid the divorce process. I will not engage in conversations with my clients regarding a predetermined or desired value of the subject property. With that in mind, you can rest assured that you’ll receive an objective, impartial, and accurate appraisal.
Marriage Dissolution
Belle Haven Appraisals offers supplemental appraisal-related services to complement the valuation or that can be ordered as a standalone service. Examples are a comprehensive rental analysis, sales and listing reports, and gross living area (GLA) measurements consistent with the ANSI® Z765-2021 standard.
A comparative rental analysis determines the market rent to examine the present and prospective financial performance of your income-producing property. Maybe you might like help gathering local property and sales data before purchasing a property. I can help guide you and narrow down the mass of raw data for your needs so you can make an informed buying decision. In addition, the ANSI® Z765-2021 is a nationally recognized standard used to measure and report square footage. It identifies what is/is not considered living area, offers a defensible measurement method, and provides transparent results.
