What is an appraisal and how does it affect a real estate dispute?

An appraisal is a professional opinion of the value of real estate, such as a house. The appraisal helps a buyer or seller make informed decisions about the property. In real estate litigation law in California, an appraisal can also be used to resolve a dispute between two parties. If two parties dispute the value of a property, a real estate appraiser can be hired to assess the property and provide an unbiased opinion. The appraiser will evaluate factors such as the size and location of the property, the condition of the building, the local real estate market, and the features of the property. The appraiser will then provide a written report detailing their assessment and the estimated value of the property. The appraised value serves as a guide to the parties involved in the dispute. Parties can use the appraisal report to come to an agreement as to the value of the property, or to negotiate the terms of a real estate contract. The appraisal report may also be used as evidence in court, if the dispute cannot be resolved by the parties. In California, real estate appraisals play an important role in the resolution of real estate disputes. Appraisals provide an unbiased evaluation of the property, which can be used to inform decisions or provide evidence in court. With the help of an appraisal, parties involved in a dispute can come to an agreement about the value of the property.

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What is an appraisal and how does it affect a real estate dispute?

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