A divorce is an emotionally traumatic time for anyone. A quality real estate appraisal can make the logistics a little smoother and settle some major issues that arise from this process. From settling divorce disputes to simply making setting a listing price a little easier, discover the advantages of an appraisal.
Learn How A Real Estate Appraisal Can Help Settle Divorce Disputes
If The Judge Requires One
A judge may require an appraisal in order to have an accurate value for your home as part of your divorce settlement. This is an essential part of ensuring that all assets are divided fairly. Even if you’re confident you know the value of your home, an appraisal is always the safest way to make sure. If this is the case, the judge may appoint an appraiser, or you may need to hire your own.
If You’re Keeping The House
If one party plans on keeping the house following a separation, they will need to buy out the other party. In this case, an accurate valuation is crucial in determining how you will settle up. This gives you a fair understanding of how much each party is owed in order to set a price or determine another way to divide your assets, and refinance your mortgage.
If You’re Selling The House
If you’re selling your house deciding how you will split the money is crucial in avoiding a dispute, whether that ratio is 50/50 or in another manner. Invest in an appraisal can help establish an accurate value for your home, which has a two-fold benefit:
- It helps determine how much each party is owed.
- It can help set a fair listing price in the event you’re unable to agree on one.
A fair and accurate appraisal helps you with your divorce settlement so you can move on with your life and heal. Have questions? Learn more about home appraisals for divorce.