Properties Appraisal - Division Between Multiple Heirs and/or Beneficiaries
In cases of inheritance, heirs often are not familiar with the property and have never even visited it. They are unfamiliar with the market – what is the fair rental value for the property, what price faithfully reflects its value, what is the demand for properties of this type, and more.
Beyond that, heirs find it difficult to obtain planning information in a foreign language from complicated authorities and systems – are there additional construction rights? Is it possible to change the property’s use? Will a change of use lead to an increase in value? Is there another betterment opportunity we can utilize into the sale process?
Conversely, heirs also do not know how to identify problems – are there any building violations? Are there squatters? Does the condition of the property require repairs for massive wear and tear and/or urgent action to prevent a hazard? Has the property been declared as a dangerous building?
All these questions involve knowledge of the market structure, regulation, and of course, a physical visit to the property and its examination with a professional eye. Our service provides an answer to all these queries and includes, at the client's choice – either a professional appraisal only, or a professional appraisal plus an engineering condition report.
In coordination with your lawyer and tax consultant, we will verify any outstanding debts or tax liabilities. This is essential for the probate process and ensures a smooth distribution of the estate.
We will also provide you with a comprehensive overview of the neighborhood, the future of the property’s immediate surroundings changes and their influence, the possible functionality of the property, its physical condition, and how much it is truly worth to you.
Only after understanding all the factors is it possible to look at the full picture and understand exactly what we are dividing among us, the overseas heirs and beneficiaries. Is it the expenses of repairing building violations? Is it better to sell? If so – what is the fair price?
We understand the needs and difficulties facing you as heirs living abroad; we would be happy to help by conducting examinations and solving all the question marks, hand in hand together with you.