Legal matters related to real estate settlements can be quite complicated at times and this can cause anyone to lose their calm while trying to win their case on a day in the courtroom. In such scenarios having a real estate expert witness on your side can make all the difference and have the hearings turn successfully to your side. However, if you are new to lawful proceedings and their commencements, here is a quick guide to help you know all about them.
Who is a Real Estate Expert Witness?
As the name implies real estate expert witnesses are those who consult, testify, and provide litigation support on real estate and related issues. They are able to draft expert witness reports, form expert opinions, and provide expert witness testimony at deposition and trial.
Moreover, there are numerous areas and subjects where real estate expert witnesses can help the lawyer form a strong case and work cooperatively with them to win their arguments. This can include but is not limited to apartments, commercial real estate, construction, due diligence, fair housing, HOA (Homeowner Association), landlord/tenant, maintenance, personal injury, premises liability, residential, security, and standard of care.
Why are Real Estate Expert Witnesses Needed?
Litigations involving real estate often require the services of an expert witness as they are able to help the trier of fact understand subject matters that are significantly beyond common comprehensions. In trials, it is considered extremely important that when it comes to technical subject matters, mavens and maestros of their fields are used to testify about those subjects.
This is because in many cases such as those involving partitions, fraud, and other real estate transactions, professionals in the field are able to shine a deeper light on the subject. Their qualified opinion becomes a yardstick through which the rest of the case and its decision can be measured while providing crucial information for the judge to make an informed verdict.
Qualifications of Real Estate Expert Witness
It goes without saying that to be qualified as a real estate expert witness, the person must know the local, state, and federal laws which are applicable to the specific property issues in question. Since real estate is a broad category, their expertise must justify their claims. Hence their experience in real estate also has to be vast.
This can include the likes of industry standards and while standards change over time, the real estate witness should also keep abreast with those changes. Therefore they must know the ins and outs of the real estate industry as this will play a vital role and also a huge advantage for resolving legal situations.
Real estate witnesses should also be able to provide documentation along with statistical support. As much of the information can be difficult to decipher, having a real estate witness on your side can aid you to gain insights and explanations that may be helpful to winning your case. Examples can include feasibility analyses, insurance valuations, investment analyses, market studies, and reviews of appraisals to name a few.
Selection of Real Estate Expert Witness
Unlike other forms of trials, lawsuits involving real estate needs care in the selection of expert witness where both their expertise and credibility should be deeply analyzed. Only those who have considerable expertise in the specific area of real estate should be considered noteworthy.
Hence, involving the likes of real estate brokers whose expertise is limited to the sale of single-family residences in a dispute regarding commercial real estate is not advisable. Furthermore, if your opponent is also using an expert witness but your expert doesn’t measure up to them then your case will indefinitely suffer.
To sum it all up, real estate witnesses and their support can be invaluable during court hearings as their presence can lend you more credibility in front of the judge. Their ability to provide exhibits, reports, and research, can all benefit your case.
Their explanation of complex information can help non-real estate experts in the courtroom to comprehend and understand the proceedings more effectively. I hope this post was able to offer you meaningful discernment to understand the importance of real estate experts and how they can be useful during your time of need.