I separated from my wife in March of this year and am in the process of getting the house appraised. My question is what date is the appraised value supposed to reflect? I am asking this because I continued to pay my share of the mortgage until August. Maybe a few months don't mean anything but just want to make sure. Thanks.
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It's only been a few months so I dont think there would be a big difference. As for the date of mortgage it will probably be the month you separated if a mortgage is still owing.
Have you had a chance to call a certified house appraiser? They will be able to answer your question. I ended up getting it appraised the day I had the appraisal as someone was stalling in the matter.
Do you have a lawyer?
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I believe you would be entitled to any growth/decline in the value of the house so long as you were contributing to the mortgage. You were still paying your share of the cost of ownership, you should be entitled to benefit from any gain in value.
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is she still living in the house as well?
is she still paying her share of the mortgage?
if she has moved out, are you paying her rent to live there (if she is on title and pays her portion of mortgage still? If not, and she is NOT paying rent, and you are paying the entire mortgage, it will most likely be put down to the difference of paying rent... if you're following me, and she'll still be entitled to half of the equity to date.
Maybe someone else can clarifly it better. I'm not very good at explaining things.
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Thank you all,
I'm guessing that the appraisal value is for the date that I stopped contributing towards the mortgage which was in August. At that point I started paying the regulated (calculated) child support (my ex is living in the house with the kids).The appraiser I talked to was not sure but offered both dates for extra cost. It's confusing as the equalization of the pensions would be set for the date we separated but the house for a later date.
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I've been told to use the current value of the house...Should I get the appraisal done last (after compiling the rest of our assets) to keep the value current? The house is clearly the largest asset and I want to keep the value current. Does anyone have experience with the timing of the appraisal (good or bad)?
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