Your Home Sold Guaranteed Realty - Barb Has the Buyers Team

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What is a Divorce Appraisal?

Not sure what a divorce appraisal is? If you’re going through a divorce, you’ll need to get a professional appraisal during the legal process of splitting your assets with your former spouse. But what makes a divorce appraisal different from a regular appraisal?

In this post, our Colorado Springs real estate experts at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss what divorce appraisals are, how they’re different from ordinary appraisals, and what the process of getting one is like.

Key Takeaways:

  • Divorce appraisals are usually legally mandated by a court or attorney during a divorce proceeding. The results of the appraisal are then used to determine an equitable division of the property’s market value between the divorcing parties.
  • Whether you’re planning to purchase the property from your spouse or sell it and divide the profits, a divorce appraisal ensures that both parties end up with their fair share of its value.
  • An objective valuation of the home’s value by an unbiased professional ensures that neither party is disadvantaged by a valuation that’s higher or lower than the actual value.

What is a Divorce Appraisal?

A divorce appraisal is similar to a regular appraisal in the sense that it’s a professional assessment of your property’s value. It’s conducted by a licensed appraiser who will visit the property and do an in-depth analysis of how much it’s worth in the current market.

What makes divorce appraisals unique is that they are usually legally mandated by a court or attorney during a divorce proceeding. The results of the appraisal are then used to determine an equitable division of the property’s market value between the divorcing parties.

Real estate is one of the most significant assets a couple shares. Whether you’re planning to purchase the property from your spouse or sell it and divide the profits, a divorce appraisal ensures that both parties end up with their fair share of its value.

What’s the Process of a Divorce Appraisal?

The process of getting a divorce appraisal is similar to a regular appraisal:

  • Hire a Professional Appraiser: It’s important to hire a professional appraiser who’s experienced in divorce cases. Ideally, both parties should agree on the appraiser. If an agreement can’t be reached, the appraiser should be appointed by the court
  • Get the Property Evaluated: The appraiser will conduct a thorough inspection of the property and compare it to sales of similar homes in the area. Based on their analysis, they’ll determine an accurate valuation for your property under the current market conditions.
  • Receive the Appraisal Report: The appraiser will create a detailed report of their findings and the data they used to come up with them. The report will be submitted to the court and used to make decisions regarding the sale or division of the property.

What is the Importance of a Divorce Appraisal?

The main purpose of a divorce appraisal is to ensure accuracy and fairness for both parties in the divorce. An objective valuation of the home’s value by an unbiased professional ensures that neither party is disadvantaged by a valuation that’s higher or lower than the actual value.

It also makes it easier to make informed decisions regarding the future of the property, whether one party decides to do a buyout, both parties agree to sell, or other financial arrangements are made.

A divorce appraisal also helps minimize disputes, ensure smoother negotiations, and help both parties reach a resolution and move forward faster.

Find the Market Value of Your Colorado Springs Home with Barb Schlinker

What is a Divorce Appraisal?
Barb Schlinker

Divorce is an emotionally difficult experience. When it comes to dealing with your home, take some stress off your plate by working with trustworthy real estate professionals. At Your Home Sold Guaranteed Realty - Barb Has the Buyers Team, Barb Schlinker and our entire team have been in the real estate business for 30+ years. 

After all this time in the industry, we’re deeply familiar with home prices in the Colorado Springs metropolitan area and constantly monitor pricing trends. This makes us well-equipped to find the market valuation for any property.

Plus, we offer unique buyer and seller guarantees that make working with us risk-free. To learn more about working with us or getting a home valuation, call 719-301-1802 or fill out the form on this page. 

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!

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