Appraisals for land and homes are not just given when homes are bought or sold. They are also provided for Georgia couples who are getting a divorce and need to know the value of the home and/or land in question.
Obtaining an appraisal as a result of a divorce can be tricky and it is important for both parties involved to be aware of the following information. Knowing how a home is assessed and who can see the results will enable everyone involved to make wise financial decisions.
Who Sees the Results?
The person who orders the appraisal sees the results. This means that one party in the divorce will not know how much the home is valued at unless the other party provides this information.
Is it Right?
An appraisal typically does not provide a set value for the home. Instead, a home is priced within a certain range. The party requesting the appraisal may ask for a conservative or high-end estimate and this request will have a bearing on the final results. For this reason, each spouse may want to consider hiring his or her own appraiser.
Is it Current?
Home value can change in as little as 24 hours. A natural disaster, real estate market values and many other factors will have a bearing on how much a home or property is worth. Because divorce proceedings can drag on for many months, it is best to have a new appraisal done if the most current appraisal was done more than six months ago.
If a couple bought property together before the divorce, it is often considered best to sell it and divide the proceeds. In such an instance, a North Georgia Appraiser can provide a market value appraisal of the property to assist one or both parties.
If you have any questions concerning Appraisals for land and homes in our unique market just give us a call at 706-633-3709.