Appraisal expert witness post by Sam C.
Everything has value in the world nowadays, and value can be a hugely subjective issue. For some people, a piece of modern art may be worth thousands if not millions of pounds, but for others it is just paint splattered on a canvas that isn’t worth the change in their pocket.
There are similar cases in all walks of life; the value of football players is another thing which many people question. Millions of pounds are spent on some players that end up being complete disappointments for their new team, which shows that they were ridiculously over-valued by their new employers, or at least more valued by them than by their original owners.
Imagine that you were looking to buy a new house, and you go to an estate agent for an appraisal of a house that you have seen and you are considering buying. The estate agent gives you a number that you find to be, although quite expensive, is an affordable price. You decide that you want to buy this house, and everything seems to be going well, until a few months after you move in. There is a torrential downpour and the roof leaks so much that it causes flooding in your home, destroying several electrical appliances and causing water damage in various other parts of the house. Upon inspection from the builders, they discover that there was already damage to the roof timber prior to buying the house that should have severely decreased the value. Not only would it have decreased the value, but you would have avoided buying a house with such problems in the first place. This is where an appraisal expert witness would come in.
The appraisal expert to approach would be a leading expert in the valuation of houses, and they will have expertise knowledge on how the estate agent should have gone about valuing the property. They will be able to provide litigation support for you during your case, as well as providing testimony in court. The appraisal expert witnesses are specialists in their field, with relevant qualifications to give them the appropriate authority that they need in a court case.
For you to earn any compensation that you may be entitled to, you will need to make a referral to an expert witness, as they will be able to assure you of whether you have a viable claim or not. With their expert knowledge, you will be able to make a much stronger claim with a greater chance of success.
Appraisal Experts For Valuation of Certain Assets
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