Who Gets the House in a Divorce?

Finalizing a divorce involves many decisions, including "Who gets the house?" There are generally two options regarding the house. First, it can be sold and the proceeds divided, or the other alternative is that one party can "buy out" the other. In either case, one or both parties should order an appraisal of the residence. Divorce appraisals require a well supported, professional appraisal that is defensible in court. When you order an appraisal from an appraiser, you want a reasonable assessment as to the value of your home for purposes of making an equitable distribution of the marital estate.
Lawyers and Judges rely on these assessment values when calculating real property values for estates, divorces, or other disputes requiring a value being placed on real property.
What's important to note is how, oftentimes, the divorce date differs from the date you order the appraisal. Most appraisers are familiar with the procedures and requirements necessary to perform a retroactive appraisal with an effective date and Fair Market Value estimate matching the date of divorce.
When you're interested in knowing the true value of your home in order to receive an equitable division of the marital estate, contact us.