An Arkansas real estate expert witness is sometimes needed when a real estate business dealing goes to court. In this case, the real estate expert gives opinion evidence based on their expertise.
If you hire an Arkansas real estate expert witness to testify in a court case, it’s important to understand the rules of the game. First and foremost, the expert is expected to remain impartial, with their loyalty dedicated to helping the court resolve the dispute.
An expert witness provides an independent expert opinion. They speak only to their area of expertise as instructed. Their opinion is formulated in an Expert Witness Report, seen by the court and your opponent. Usually, the expert is called to testify in regard to their findings in the report. The other side usually goes through the same process and are required to share their report with you and the court.
Be aware that the court expects your Arkansas real estate expert witness to give a true and impartial opinion. This is the case whether or not the findings work in favor of your case. If your expert witness is seen to exhibit bias, his opinion will most likely not be considered in the court’s decision.
Limitations Set by Court on Expert Testimony
An Arkansas real estate expert witness cannot act as your advocate or negotiator although you can and should hire someone to act in that role. Since the credibility of the witness hinges on their impartiality, a reputable real estate expert witness won’t accept cases where there is a conflict of interest. You also cannot base compensation for the report on the outcome of the case as this jeopardizes the impartiality of the opinion evidence.
Eminent Domain Example, Real Estate Expert in Appraisals
Eminent domain cases arise when municipalities use eminent domain laws in non-traditional ways. Currently, more and more cities are using eminent domain laws to redevelop areas. Previously, eminent domain was used primarily to expand roads or build new highways. In some cases, homeowners sue municipalities based on the assessed values of their properties. In such a case, an appraiser might be called to provide their expert opinion on the values of the properties impacted by eminent domain rulings. This is just one example of how an Arkansas real estate expert witness can help you.
Ferstl Valuation Services has knowledgeable professionals qualified to serve as your Arkansas real estate expert witness. Our owners are licensed appraisers and attorneys who have given expert witness testimony and support in many cases. We are also business consultants in the areas of residential and commercial real estate. Give us a call at 501-313-0641, or stop by our office at 5905 Forest Place, Suite 100, Little Rock, AR 72207.