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appraisals for matrimonial home

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  • appraisals for matrimonial home

    We are separated and heading for divorce. I would like to pay my exhusband out and stay in the matrimonial home with the kids. We had 3 appraisals done and all three have a difference of 60000-70000CAD. The house is over 100 years old and needs a lot of repairs. What else could we do to determine a final value?

  • #2
    Split the difference? Take the average of all 3 appraisals... Are these bank appraisals or just realtor?

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    • #3
      I did make him the offer, he refused. The appraisals are done from recognized appraisal companies.

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      • #4
        This often happens, and you may make several offers before he accepts... I can only assume that he is wanting to go with the highest appraisal? Is it possible to contact these companies and ask why there is such a difference between their appraisals?

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        • #5
          $650,000 give or take $10k

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          • #6
            Yes, I already contacted his appraisor and talked to him. The companies actually used 2 of the same comparible properties from the MLS, but with total different values. Also did his appraisor not consider serious urgent repairs to be done at the house. I guess I will take your advice and we will go on appraising. Another question, these were direct comparison approach, does it make sense to make do an cost approach for the next ones? Also we have an investment property.. same problem here. Is it reasonable to have an income approach done here?

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            • #7
              NO>>>>>>>> values will be based on best use, or present use. Income is BS Cost depreciation BS... Market comparables.... the market is hot! Florida trades at below cost to build. market approach!!!

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