«It determines the level of equity the homeowner has and, if the owner's estimate is too far from how
the appraiser views the property, it can cause the mortgage to be restructured.
Instead of being a process as originally envisioned (and as this author originally was trained) in which clients choose «no - court» lawyers (usually for their divorces) and then, if needed, mutually hire various other kinds of professionals (such as
property appraisers, tax experts, pension advisors, educational experts, child development or parenting specialists), these newly reconstituted collaborative law groups posit that collaborative law can and should be
viewed as a «therapeutic jurisprudence» team approach in which divorce emotional and relationship issues are assumed to be addressed along with the legal issues.
Both
appraisers developed cost and sales comparable approaches to value, but the
appraiser who
viewed the
property as special - purpose put more weight into a cost - based conclusion, while the other put more weight on his sales - comparison approach.