Real Estate Economic Expert Witness
We provide financial expert witness testimony and damage calculations in real estate disputes.
Assessing the value and income potential of the business or building that was involved in a fire or other real estate dispute requires the expert services of a forensic economist. At The Knowles Group, we provide expert real estate witness testimony in both state and federal venues. We have over 30 years of experience and have testified in multiple states across the U.S.
In addition to his qualifications as an expert forensic economist, Eric Knowles has several years of experience and education in the real estate market. This uniquely positions him to offer expert real estate economic witness testimony and advice in depositions, courtrooms, and to his clients. Through his experience, Eric can help refute and diminish the credibility of his counterparts who are testifying as expert witnesses for the other side.
Real Estate Financial Audit
If you’re involved with a real estate property or contract dispute between buyer and seller, a real estate financial audit is a must. With collaboration from a real estate appraiser, the economist can come to a reasonable conclusion regarding economic damage calculations and other business valuations.
In cases where multi-family or other types of buildings suffer fire or construction damage, and the owner is forced to sell, we can help them calculate lost rental income as well as the financial difference when comparing the actual sale date and possibly more optimal market conditions.
We can also look at condos, apartments, and other rental properties to see how they’re financially performing over time. When working with new clients, we will research and quickly become experts in the buying and selling of residential homes and commercial properties in that particular market in a very short period of time.
Property acquisition underwriting audits
A commercial real estate dispute often involves quantifying economic loss. When this loss pertains to the valuation of a property or building, an economic expert can assist in calculating or verifying a loss. By evaluating the income pro-formas used in the underwriting process, we can uncover facts that can help you win at trial. We also provide expert testimony to explain our findings to the judge and jury.
Real estate development disputes
Disputes involving the development and construction of residential and commercial properties can be costly. With so many parties involved, property development cases often get dragged out over a long period of time. The Knowles Group has the expertise to evaluate real estate pro-formas involved and make a solid legal case backed by data and economics.
Property Damage through Fire and Water
These events leading to litigation can occur with multi-family, industrial, commercial/retail and residential properties. The Knowles Group can evaluate business losses occurring as a result of the displacement and property damage in addition to personal financial losses from residential loss. We can provide litigation support and expert witness services for the damage to the property, business losses, and resulting transactions that would not have otherwise occurred.
Choosing a Forensic Economist for Real Estate Litigation Support
A forensic economist is a valuable ally when it comes time to determine business valuation or other economic damages. Whether it’s testifying at a deposition or in a court of law, they can help not only determine losses but bolster the argument of the attorneys.
A forensic economist will look at the value of the property before and after the incident. They can also help determine future income potential for multi-family and office buildings. The Knowles Group can provide economic consulting and expert witness support in various real estate issues, including:
- Acquiring property
- Real estate valuation & appraisal
- Mortgage underwriting
- Fire and water damage
- Title disputes
- Property development & construction
- Partnership disputes
- Fair market value
- Measuring economic loss
- HOA disputes
- Landlord / tenant issues
Does your real estate case need an expert witness testimony?
Hire a Real Estate Economic Expert Witness
If you or your client are involved in a real estate dispute, it’s important to retain the services of a forensic economist right from the start. At The Knowles Group, we’ve been providing our clients with expert real estate forensic economic advice and testimony for well over 30 years.
We can also help refute the arguments and opinions of our counterparts as we are very familiar with many of the experts in various fields and have strategies and counter-strategies that we can use to make our testimony more convincing.
We also have hands-on real estate experience that enables us to quickly get up to speed and understand the unique real estate markets in any given area. Give us a call today at (206) 860-9477 or contact us via our website to learn more about the real estate forensic economist services that we offer.
Real Estate Cases We’ve Worked On
Family residence foreclosure due to attorney malpractice/negligence
My analysis included calculating the lost equity value in a family's home that was lost at foreclosure as a result of attorney malpractice. Damages were calculated utilizing proposed mortgage interest rates, the growth of equity value in the family's home over time and deducted projected future mortgage principal and interest payments. The calculated awarded economic damages were compared to current real estate market to answer the question whether the family could purchase a similar home in a similar community with a similar monthly mortgage payment.
Business Interruption losses caused by Construction Activity
A residential multi-family building was erected in Portland Oregon and a neighboring auto-repair business claimed business interruption and losses due to the claimant's building experiencing settlement (due to construction) that ultimately rendered a portion of the business to be inoperable. My analysis included reviewing all profit and loss statements and tax returns for the auto-repair business, both before and after the subject incident and interruption. I projected what the business would have experienced in the way of revenues, expenses and net income based on previous years and compared it to the actual returns for the business subsequent to the events. My analysis also included projecting future losses if the business would have to close during construction to resolve any problems and disputes.