Court Appointed Assignment Scenario

[Kevin A. Spellman]

The husband was using a refinance appraisal for his value. There is a three month difference between the wife’s appraisal and the refinance appraisal report.

 

[Elliott]

Is $100,000 a lot of money in this market? Or are we talking
$1,500,000 to $1,400,000.

I don't see how you could be court appointed if you've already
had 'discussions' with the husband and know his motivation.
I'd want Job to do the review or the 3rd or 4th appraisal, then
let the judge sort it out.

 

[Kevin A. Spellman]

I have asked the husband to send over the two reports first before I would accept the assignment. The value is under $350,000 price level.

Of course the court date for the divorce is within ten days.

 

[robert higgins]

Yes confusing post Kevin, is this what you’re trying to say and ask?

Wife ordered appraisal for divorce, appraisal done by appraiser “A” who came in at say @350k

Court ordered an appraisal on behalf of the husband for the divorce, appraisal done by appraiser “A” who came in at say @250k, 100K less.

Both appraisals are done within a short period of time, both by the same appraiser, two different values.

Q1) Would you have done the appraisal, if asked, for both parties in a divorce?
A) No, you have a conflict of interest

Q2) Would you do an appraisal as the 3rd person (appraiser “B”), tie breaker, if asked by the court?
A) Yes, but I would make sure what they want and what they expected from me. Will I be expected to testify, comment on the other 2 appraisals, ect. charge accordingly.

 

[Kevin A. Spellman]

The court ordered an appraisal for the both parties as the husband and wife could not come to an agreement on value. The appraiser who accepted the assignment from the court has already done an appraisal for the wife and for the same purpose, “for the divorce”.

The court just ordered the appraisal, but will not know the appraiser has already done an appraisal for the wife until the court date.

I’m just surprised the two attorneys allowed this to occur.

The appraiser for the wife and the appraiser for the court is the same appraiser.
The husband was using a refinance appraisal for his opinion of value a different appraiser. He believes the second report by the same appraiser for the wife and for the court will just be the same report and the disagreement of value will continue.

I just disagree with the appraiser accepting an assignment from the court where he is already has a client relationship with the wife for the same purpose.

 

[Kevin A. Spellman]

I offered a review service, but then I thought the second report for the court will most likely be thrown out as now the court has two reports from the same appraiser.

It is one of the potential assignments where there are three reports now and I could be providing a fourth report.

 

[PropertyEconomics]

Kevin,
Im confused as to why you are reluctant to accept the assignment. The attorney for your client will have a field day and the judge will not be happy that this appraiser has a "conflict" they have not disclosed.
What is your reluctance?

 

[Dutchman]

The reading comprehension skills on this thread are "amazing"

 

[Kevin A. Spellman]

The court could possess three reports, two with $100,000 difference and third value to be determined soon, but my guess it still will be a $100,000 difference. If I come in as the fourth guy, by being the husband’s appraiser then the court could order another report.

My business practice always demonstrates worth. My valuation services may not have value for the husband. The court could refuse my report and then order another report again for both the husband and wife. I think I may offer a consulting assignment for the husband with a review of the three reports in question.

 

[Otis Key]

The court could possess three reports, two with $100,000 difference and third value to be determined soon, but my guess it still will be a $100,000 difference. If I come in as the fourth guy, by being the husband’s appraiser then the court could order another report.

My business practice always demonstrates worth. My valuation services may not have value for the husband. The court could refuse my report and then order another report again for both the husband and wife. I think I may offer a consulting assignment for the husband with a review of the three reports in question.

Not used to doing court work eh. Accept the assignment, do your job (UNBIASED) and send it to the attorney. If the court accepts it, then great. If the court declines, so be it.