A couple’s primary residence is typically their largest asset. In a divorce or dissolution situation, it is crucial to understand the value of any and all real assets in order to equitably divide equity. Do not fall into the trap of relying on the county’s assessed value or worse yet, the Zestimate. In our professional experience we have seen the former off by over 25% and the latter off by over 50%, that is a lot of money and pales in comparison to the cost of an appraisal.
Lake State Realty has been providing professional divorce and partnership dissolution appraisals in Minneapolis, Saint Paul Metro Area, and the Upper Midwest that are defensible in court or mediation since 1991.
A dissolution or divorce might involve determining the value of your home or real property at some point in the past in a process known as a historical, forensic, or retrospective appraisal. It may also require tracing of premarital equity or equity contributions from one party or the other during the marriage, a process that is known as a Dorweilier Claim. Lake State Realty is proficient in providing this specialized subset of appraisal services in the Twin Cities and surrounding areas.
The most cost-effective way to determine the fair market value of a home and real property is to hire one independent appraiser whom both parties can agree upon to do a neutral appraisal of the property. We honor specific protocols in neutral valuation situations to ensure fair and unbiased valuations that are accurate and reliable. If a neutral appraisal is not agreed upon, Lake State Realty provides successful defensible expert appraisal reports and, if necessary, successful expert witness testimony.