Other than the custody of children, the most contested issue in cases of divorce is often what happens with marital real estate. Not only is the emotional investment in your home important, but both parties have spent years paying and taking care of your home. You have to decide whether to sell the property and divide up the resources, or choose which party will keep the house. Fluctuations in the market can have a significant impact on this decision.
Regardless of how the decision is made, you have to get an accurate value of the property. The equity in your home – it’s value above what is owed on the mortgage – has to be evenly divided. If one party ends up keeping the home, that party has to adequately compensate the other for their share of the value. The value of the home is very important part of making that determination.
If the decision is made to ultimately sell the property, an appraisal will happen automatically during that process. If the decision is made for one of the parties to keep the real estate, then it will be very important to have an accurate valuation of that property in order to fairly divide the value of the asset.
Longview Appraisals can help you determine the value of your & your client’s real property during the divorce process.
Divorce Appraisals Naples Florida