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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 02-20-2009, 10:22 AM
keepitsimple keepitsimple is offline
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Default House Valuation

We need to value the house (Matrimonial). I've heard that you can have real estate agents in but it seems that they just give a Listing Price which is likely not going to be the end sale price as the deficiencies in the house is generally left for the buyer/seller negotiation. Then there are $500 appraisals that can be done - do they provide any more info above the real-estate for the cost of the appraisal? Then there are the banks that also do appraisals for mortgage purposes?

What the best and fairest way given that we have little money for this process?!
Old 02-20-2009, 02:28 PM
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If an appraisal is done, they will provide you with a legal document that will explain how they arrived at the value of the hoe on the specified date. They will make comparisons with other homes in the area of a similar nature that have sold at the time listed for evaluation (IE separation date).

They will explain how your home compares to others, what they sold for etc and then give a quote on the value of your home. So it is more then just an estimated selling price that the real estate agent sets. They set prices relative to the market at the time. To my knowledge they do not have the ability to appraise the home and offer a valid quote to the value only what they feel you can respectfully ask for the home on the open market.
Old 02-20-2009, 06:40 PM
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The courts value an independant appraisal from a certified appraiser far more than a real estate opinion.

That said, get a real estate agent's opinion as a starting point for yourself.
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