Divorce can be a difficult phase in your life. One common and important decision that has to be made during divorce proceedings is, “What is going to happen to the house?”. Whether you are selling your home or buying out your partner it is important to understand the market value of your home. Divorce appraisals will give you the “as-is” market value of your home. This estimate of value can be useful in determining the equity in the home. This will help you and your divorce attorney whether you will sell the home or buy out your partner.
How Do Divorce Appraisals Work?
1. The appraiser will work with you and your divorce attorney to schedule a time to inspect your home.
2. The appraiser will measure your home to calculate the square footage.
3. The appraiser will also make notes on the condition of the home, the unique amenities in the home and any necessary repairs needed.
4. The appraiser will also take pictures of all rooms in your home and pictures of any damage to the home.
5. After the appraisal inspection the appraiser will prepare a form to deliver to you and your divorce attorney.
How Is The Divorce Appraisal Value Derived?
Depending on your situation the appraiser will evaluate your home as of the date they inspected the home or a prior date (if necessary). Then they will compare your home to similar homes in the area and add or subtract value based on differences found in your home and other comparable homes in the area.
How Long Do I Have To Wait For My Divorce Appraisal?
Every situation is unique but at Maverick Appraisals, we can typically get your divorce appraisal back to you within 3 business days (sometimes sooner).
If you have any other questions please feel free to email us at andrewp@maverickappraisals.com or call us at 469-352-0585.
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