Going through a divorce is a challenging process with many decisions to make, including what happens to your home. Generally, there are two choices when it comes to shared real estate: sell it and divide the proceeds or buy out the other party. In either case, a divorce appraisal is essential to determine the market value of the property. It provides a well-supported, professional report that is defensible during a trial, and both parties will have a good idea of what price to set, making it easier for them to decide. It is important to choose a qualified appraiser to ensure everyone involved can be sure of a fair outcome. Divorce appraisals are similar to standard appraisals that consider local demographics, utilities, property condition, unique elements in play, and home measurements, including lot size.
During a divorce, it’s important to get an accurate appraisal of any real estate involved in the proceedings. This can include the family home, vacation properties, investment properties, and any other real estate assets.