View Our Practice Areas

An appraiser uses 3 things to determine value

You know what you paid for your home a year after getting married. That was 10 years ago, though. You and your spouse are now getting divorced, and you know the market has changed significantly. What is your home worth now?

After all, dividing your assets often starts with the house. You can buy out your spouse, sell your half of the house, sell the entire home and split the money or use a more creative solution. There are a lot of options, but they all come back to that fundamental question: What is the value of the home?

To determine it, the best move is to hire an appraiser. Never make assumptions. This is too valuable to take lightly. For many people, it's their most valuable asset. Even if it's not for you -- maybe you have a business and investments, for instance -- it's probably still in the top 10. You need to know the true value to decide how to move forward, and your appraiser will use three things to determine it:

  1. The state of the property, especially if you have made updates and improvements.
  2. The local market for not just your city, but your very neighborhood.
  3. The comparable prices of other homes around you that have sold recently. Some may be higher or lower, but they help give you a rough framework.

After you figure out what your house is worth, then you can decide if you want to sell it or keep it. You can make an informed decision that protects your own wealth after the marriage. Make sure you know what options you have.

No Comments

Leave a comment
Comment Information

Strong legal advocates for residents throughout the Dayton area.

Contact The Firm

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Email Us For A Response

Office Locations

West Chester Office
9100 West Chester Towne Centre Drive
Suite 210
West Chester, OH 45069

Phone: 937-401-2526
Map & Directions

Dayton Office
40 N. Main Street, Suite 1900
Dayton, OH 45423

Phone: 937-401-2526
Dayton Law Office Map