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  • Equalization and deceit.

    Just wondering what the general opinion is about this. Happened to a friend recently and I see two sides personally.
    Matrimonial home appraised at 415k by one real estate agent . Ex husband resides in home and wife has moved out. Both agree that keeping children in home is a good idea (50/50 custody). Spouse doesn’t get other appraisals on the home because they wanted ex to live in home with kids and be able to afford it.. The entire division of assets done with lawyers and all legal etc. Pensions,debts, property, house. Deal is signed on Friday. By Saturday afternoon, the husband has now put the house up for sale for 100k more than the appraisal. It will most likely sell within 20k of asking.

    Is this deceit and any recourse? I feel it is deceitful but lack of due diligence on lawyers part for not requesting several appraisals. Husband played ex wife’s heartstrings with children getting to stay in their home and not moving schools, neighborhood friends etc. Thoughts?

  • #2
    Clearly the wife accepted the appraised value and went forth with the separation. The husband was under no obligation to get a second opinion if the wife was accepting of the value. If the wife had doubts she should have requested another appraisal but by default she accepted the appraisal.

    Equalization was done fairly... it seems. He husband is the sole owner of the house now and he is obligated to do as he wishes with his own assets. I can understand why the wife is upset but this is also on her shoulders.

    For what it’s worth... the area I live in, houses are selling for $20-30k OVER asking price... which is often over the appraisal value. It’s all about the market and what people want to pay. We are getting ready to sell our house and our realtor has suggested we list for $15,000 more and still thinks we will get into a bidding war.


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    • #3
      Does the deal specify that he is not allowed to sell the house? If not, then he is allowed to sell the house.

      Morally, I'm not too hot and bothered by this either. Making sacrifices because you hope your ex is going to do the right thing is stupid, emotions have no place in a divorce.

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      • #4
        You let us know if the house sells for anywhere near the asking price.
        I have very little admiration or confidence in realtors.

        When one goes for an appraisal they should not go to a realtor. A "real" appraisal you have to pay for. People use the term "appraised value" quite liberally.

        Sounds like both people were taken for a ride and, in the end, both with part with good money to a sleazy realtor. For shame.

        People should realize that you don't need a realtor to buy or sell a home, particularly if money is tight.

        Both parties should have INDEPENDENT legal advice. I have a feeling the two involved cheaped out and "shared" a lawyer and "shared" a realtor.

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        • #5
          Maybe, how far apart was the separation from the the listing time? Teh appraised value for equalization should be froma date close to separation, so if the house was listed a year or 2 later, then it very well could have gone up , or down in price. But aslo, you are not suppose to use a realtor to vlaue the home, you go to an actual appraisal company and they ask you what kind of appraisal you need, and you tell them an appraisal for divorce purposes. it seems pretty obvious a realtor has a specific bias, and is not the suitable professional to appraise a home for divorce purposes. I would nto be angry so much about the vlue of the home, but rather the fact hsband is uprooting kids, but nothing can really do about that. Yes, its a sleazy thing to do, but also the spouse who moved out, should have done due diligence on the correct apprasial

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