Property Value Disputes

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What Is Property Value?

Property value is the basic worth of property at the time it is sold or transferred. This is often determined according to many factors, including market values, neighborhood factors, previous owners, and the condition of the home.

Property value is not the same thing as the property price or the selling price. Property value can be considered as an estimate of what the home or property is actually worth. Selling prices can often be higher or lower than the property value, due to aspects such as bargaining skills, market demands, and other factors. As such, property value is a factor in many types of real estate disputes.

What Are Some Common Property Value Disputes?

Property values can often be subject to much change, as there are many factors involved in property valuation. The same property can sometimes be interpreted differently, which makes the valuation process somewhat subjective. This can lead to much disagreement and disputes regarding property value. Some common property value disputes include:

Lastly, home improvements can also affect the property value. It can sometimes be difficult to measure how much a home improvement is worth in terms of dollar amounts.

How Are Property Value Disputes Resolved?

Some property value disputes can be addressed by:

In some cases, a formal lawsuit may be necessary to remedy a property value dispute. This can happen for instance if one party has lost profit on a home sales transaction due to a violation, or if one party would be unjustly enriched through the sale.

Do I Need a Lawyer for a Property Value Dispute?

Property value disputes can cause major issues in the long run if they are not addressed immediately. For instance, it can affect the ability to sell the property later on, or it may cause profit losses in the future. You may wish to hire a real estate lawyer near you if you need help with any type of property value issue. Your attorney can research the laws to determine your rights, and can also represent you in court if you need to file a lawsuit.

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Last Modified: 07-21-2015 02:56 PM PDT

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