In this week’s WSJ Mansion section there was a nice write up by Alyssa Abkowitz about the appraisal process during a divorce: Appraisers in Splitsville. Our firm does a lot of this type of consulting and we find working with attorneys much easier than dealing with retail banks.
I also find that it’s a small world – I know nearly all the appraisers in my market personally (only a handful are active in this segment). Most are professional and knowledgable but like any profession, there are a few hacks.
The challenge in the divorce appraisal business is the challenge of proper communication between the parties – the slightest miscue can snowball into a huge complicated mess billable by the hour. The key to valuation in this process is to filter out the personal element of it and just do the appraisal. When working for one party, the appraiser never gets the whole story and magically “you’re not always on the ‘right’ side so don’t concern yourself with the details beyond the valuation.” Professionals are the ones that do their job devoid of personal bias.