Expert Witness Testimony
Expert witness testimony is required when the accurate value of an appraisal must be declared in a court of law. The main reason for expert witness testimony is to fully support a credible opinion of value.
An expert witness giving testimony needs to be supportive of their analysis and opinion, not of their client. Expert witnesses with limited courtroom experience can develop an opinion that is not credible or supportable because of pressure from clients or counsel. Though this approach initially appears helpful to the client, it does not generally help legal counsel or the client since it is not credible evidence for trial.
There is a high standard of care for expert witness testimony. The expert must determine the scope and purpose of the testimony. This includes a letter of engagement, research, and preparation for deposition and trial testimony. All data needs to be researched and verified. Even if the sales data has already been confirmed, all of the information will be checked again prior to the testimony.
Appraisers, like the ones at Present Value, typically summarize their data and opinion in a summary report instead of presenting them in an excessively long one. Preparing a summary report also helps to reduce the cost of an expert witness appearance. It is important for appraisers to carefully research the facts and perform a thorough analysis.
A credible expert witness with a properly prepared document and a credible opinion is vital to resolving cases before trial or winning at trial. A credible report is an effective method to provide attorneys with the information they need to effectively resolve the case.
To learn more about expert witness testimony, talk to the appraisal experts at Present Value.
By: Present Value