Are you a family law attorney handling cases with real estate assets? Understanding the distinction between an appraisal and a Comparative Market Analysis (CMA) can significantly impact your client’s outcomes. As a Certified Divorce Real Estate Expert (CDRE), I’ve guided countless attorneys and their clients through this intricate process.
What is a Comparative Market Analysis (CMA)?
A Comparative Market Analysis (CMA) is a tool primarily used by real estate agents. Its main purpose is to help sellers set a competitive list price for their home or to assist buyers in making informed offers.
- CMAs are used to evaluate market trends and provide a surface-level comparison
- Focus on recently sold homes in the same area, considering factors like location, size, number of bedrooms and bathrooms, age, improvements, and overall condition
- Typically, real estate agents provide CMAs at no charge
Understanding an Appraisal
An appraisal offers a more in-depth and detailed property evaluation conducted by a licensed appraiser. This thorough process is essential in various legal and financial contexts, including divorce cases where property division is involved.
- An appraisal includes a detailed description of the property, supporting data, and often photographs
- Similar to a CMA, it considers location, property size, condition, and improvements but goes into greater detail
- An appraisal usually ranges from $500 to $700, reflecting the comprehensive nature of the report
Why Family Law Attorneys Should Care
In divorce cases, ensuring an equitable division of real estate assets is crucial. As a neutral third party, my role as a CDRE is to provide unbiased, expert guidance. My extensive training and experience enable me to handle even the most high-conflict cases, ensuring your clients receive fair and accurate property evaluations.
Partnering with a Certified Divorce Real Estate Expert
Did you know that less than one percent of all real estate agents nationwide hold the CDRE certification? Partnering with a CDRE like me can elevate your practice by:
- Delegating real estate complexities allows you to focus on your legal responsibilities
- Providing comprehensive service offerings leads to better client outcomes
- Ensuring that property division is handled impartially, reducing conflict and stress
Eager to explore how my services can assist you? Please visit my website at www.RHHomeSweetHome.com or you can reach me directly at (619) 302-3119 to schedule your personalized and confidential consultation.