Author: Scott B

What Is A Zoning Analysis?

Zoning analysis is a professional assessment that examines how local zoning regulations apply to a specific property, determining what can be built, how large it can be, and what uses are permitted. Created by licensed architects, this analysis produces both written reports and visual diagrams showing development possibilities and restrictions for property owners planning construction […]

How Long Is A Commercial Appraisal Valid?

Commercial appraisals are typically valid for 6 months to 1 year, though this timeframe varies based on market conditions, lender requirements, and property changes. The validity period of a commercial real estate appraisal depends on several key factors: the purpose of the appraisal (loan vs. tax assessment), current market volatility, any physical property modifications, specific […]

How Often Do Home Appraisals Come In Low?

Low home appraisals are relatively uncommon, occurring in fewer than 10% of real estate transactions, based on data from Fannie Mae. In fact, more than 90% of appraisals either confirm or surpass the agreed-upon purchase price. This means that in the majority of cases, buyers and sellers do not encounter issues related to appraisal values […]

Can A Seller Back Out After A Low Home Appraisal?

When a home appraisal comes in below the contract price, sellers cannot simply cancel the purchase agreement without potential legal consequences. A signed purchase contract creates binding obligations that expose sellers to lawsuits, financial penalties, and court-ordered specific performance if they attempt to back out. While sellers maintain the right to keep their original asking […]

The Importance Of Certified Appraisals In Divorce

Certified appraisals are professional property valuations conducted by licensed appraisers that courts require during divorce proceedings to ensure fair asset division between spouses. These evaluations determine the current market value of real estate, typically a couple’s largest shared asset, using standardized methods that examine location, property condition, comparable sales, and market trends. Working with a […]

What You Need To Know About A Divorce Appraisal

A divorce appraisal is a professional property valuation conducted during divorce proceedings to determine the fair market value of real estate and other significant assets owned by divorcing spouses. This evaluation, performed by a certified real estate appraiser, serves as crucial evidence for courts to ensure equitable distribution of marital property. The appraisal process typically […]

5 Types Of Estate Appraisal Assignments

Estate appraisals are professional property valuations required for five specific legal and financial situations: property sale preparation after death, charitable donations for tax deductions, estate tax calculations, trust property distributions, and court-ordered probate proceedings. These specialized appraisals differ from standard real estate valuations because they require detailed stakeholder identification, specific effective dates (often retroactive to […]

What Is A Divorce Appraisal And Its Primary Purpose?

A divorce appraisal is a professional property valuation conducted during divorce proceedings to determine fair market value of marital assets. Licensed appraisers evaluate real estate owned by either or both spouses to ensure equitable asset division. Divorce appraisals differ from regular appraisals because they must meet specific legal standards for court admissibility and consider factors […]

How A Divorce Appraisal Helps Estimate Home Value?

Divorce appraisal determines the fair market value of assets during property division proceedings. Courts require accurate home valuations to ensure equitable distribution between divorcing spouses. A divorce appraiser in NYC is a certified professional who provides an impartial valuation of residential properties for divorce proceedings. The process takes 3-5 days and considers factors like property […]