Home valuation question

HelixFish · 2021-09-05T01:14:07+00:00

The only legal way (pending location specifics) is an appraisal.

MNCPA · 2021-09-05T03:36:31+00:00

My attorney had a realtor give us a market analysis. The realtor essentially told me that I overpaid for the home 8 years prior and the market finally caught up to what I paid. The market estimate was very close to what I paid. My attorney buried the estimate and it was never disclosed to my ex-wife.

My ex-wife was paranoid that we were preparing a large bump in the home value because she wanted the home (I didn't). As a result, she hired a professional appraiser who did a very detailed job. This appraisal came out about 10% higher than my estimates.

When we eventually had to go to court, the judge went with the only 3rd party estimate submitted (which was my ex's higher amount).

After reading the appraiser's notes and reviewing the pictures taken, it was clear that my ex was in full manipulation mode. The appraiser even noted that "the occupant wouldn't answer direct questions about the home but instead kept inserting non-relevant relationship information." Also, the appraiser also included that 'there are several signs of cosmetic damage but not structurally significant.' In the appraiser's photos, there was trash, clothes, toys, etc. thrown everywhere and I barely recognized the home.

TLDR - Get a professional appraiser who takes detailed notes and photos. Don't disclose the appraisal to the other party, unless you now it's the best in your situation.

SwamiSweatSocks · 2021-09-04T23:10:34+00:00

I had an appraisal

cloudburr · 2021-09-05T09:07:35+00:00

3 appraisals and then average.

pegleg_legal · 2021-09-06T08:15:45+00:00

You can pick any value you agree on, typically. Who ever is getting the cash out wants the higher value. Bank value on refi is one way. Appraisal. Agent. It's whatever you both think is reasonable and agree. Some people get multiple appraisals and pick one or average. It just depends on how critical this valuation is to you and your stbx. Some people go crazy about it, others don't make it a huge deal.

LyricalPig · 2021-09-15T17:22:15+00:00

Each hires your own appraiser and average the two.

Title	Home valuation question
Author	Longjumping-One-340
Upvotes	7
Comments	10
Date	September 4, 2021 10:24 PM UTC (4 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/pi10hy/home_valuation_question/
Archive Link	https://theredarchive.com/r/Divorce_Men/home-valuation-question.1066849 https://theredarchive.com/post/1066849

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