Who Should Attend the Appraisal Inspection of the Marital Residence?
June 24, 2019
BY: Lesnevich, Marzano-Lesnevich, O'Cathain & O'Cathain
Guest blog post by Paul R. Harris
It’s not the appraiser to determine which party or parties attends the appraisal inspection, unless of course there is a court order or judgement barring one of the parties from attending the appraisal inspection.
With that said it is this appraisers opinion there is no policy for either party to be present, the appraiser wants to gain access to the home and conduct the inspection in a fair and honest manner.
The appraiser therefore wants to hear from both parties, and have them both available for the inspection should they want to attend, since they know the most about the marital home and can reveal all the pluses and minuses about the home. The appraiser wants to get as accurate information about the marital home as possible as to what and when the renovations/updates/upgrades took place, as well as the repairs that might be, whether they are perceived, required or necessary in nature. It has been this appraisers experience to have a “home inspection” conducted to assist in determining the nature and extent of any required, perceived or necessary repair. These can vary in size and scope of a repair and the ultimate cost of a repair.
It’s not necessarily the amount or cost of the renovations/updates/upgrades or cost of the repair items, but when the renovations/updates/upgrades took place. Please note that the marketplace may not have the same reaction to an upgrade or repair as to the cost of said upgrade or repair. Cost doesn’t = market value.
Lastly, should only one of the parties meet the appraiser at the home and walk through the property with the appraiser during the inspection it is human nature for the party not at the inspection to feel they are not getting a fair and impartial inspection from the appraiser. It is this appraisers experience that it’s not about who accompanied the appraiser on the inspection but about the home and being able to deliver a fair and reasonable opinion of value.
Please feel free to e-mail me your comments, questions or future topics of discussion to firstname.lastname@example.org, or to telephone: (201) 826-3109.
Paul R. Harris of Harris Appraisals, LLC, is a New Jersey State Certified Residential Real Estate Appraiser. With over 35 years of experience, he is based in Bergen County, New Jersey. Having grown up and currently living in Bergen County, He is very familiar with not only this “UNIQUE” local Real Estate marketplace, but the surrounding Essex, Hudson, Morris & Passaic counties real estate markets as well. Please visit his website at: https://harrisappraisals1.com/
At Lesnevich, Marzano-Lesnevich, O’Cathain & O’Cathain, LLC., our New Jersey divorce lawyers can help you resolve your case efficiently.