Real Estate Attorney in Bohemia NY: Determining the Home’s Value during Divorce

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As two partners decide to go their separate ways, they often decide the most prudent thing to do is to sell the marital home.  This makes sense since their incomes will now be divided and neither one may be in the position to carry the expenses of the asset.  A real estate attorney in Bohemia New York can explain different ways that the home’s value may be determined.  Then, the real estate attorney in Bohemia New York may discuss the client’s actual interest in the property.

Agree on the Method for Appraisal

The parties may not agree as to the value of the home.  Having the right listing price can increase the odds of selling the property more quickly.  The appraisal should be accurate, fair and impartial.  The parties should ideally agree upon the method for the appraisal before one is conducted.  For example, if they want a formal appraisal, then they will need to contact a certified appraiser and ask for this task to be performed.  If they want an informal appraisal, they may be able to check with a local real estate agent who can estimate the value of the property on the prices of other homes for sale in the area.

Follow up with the Appraiser

If the parties use a neutral appraiser, they should be clear on who communicates with this professional and what they say.  They do not have to disclose that they are seeking the appraisal because of divorce.

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