Divorce Valuations are appraisals or an assessment of the value of your home, condo or rental property by a licensed appraiser. An appraiser determines the fair market value of a property by comparing it to other properties that are similar in size and condition. Typically this market value is figured from a variety of factors including comparison of the current property price to other comparable properties in your area. Many home sellers use divorce appraisals when selling their homes. While it may seem obvious, getting a good real estate agent is critical in getting a proper house valuation.
Quick Guide to Divorces
Most home appraisers base their findings on the details provided by you, the seller, such as square footage, floor plan, number of bedrooms and bathrooms, and the price you paid for the house. It is important to have accurate dimensions and information about how the property will be used. This is especially true if you plan to rent your home or if you plan to live in it as part of a rental arrangement with another person. When selling your home, it is crucial to have a real estate agent that can also give you an estimate of the fair market value of your home so you can determine whether or not to sell the property.
As the owner of the house, you should be aware of the real estate appraisal process and what the appraisers are looking for. Real estate agents have extensive experience dealing with appraisers and can answer any questions you have about the process. It is wise to use the services of an experienced and qualified realtor, not just any one that comes along. Most agents have a proven track record of accurate and fair appraisals.