An appraisal is a formal process that establishes the estimated fair market value of a condominium property. This is what your investment is objectively worth at that point in time. Appraisals are usually required by banks before they approve a mortgage. This is to make sure the loan amount isn’t beyond what the lender can expect to recoup if the buyer defaults on the mortgage. Sale isn’t the o...
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By in Residential

A probate case requires that the property of the deceased be evaluated, in order to determine the cash value of the property at the date of the death of the deceased. The probate court must know the total cash value of the property, prior to the distribution of the assets. Probate cases depend mainly on professional valuations to determine the cash value for "non-cash" assets, such as real esta...
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By in Estate Planning