If you are getting divorced, you will know that the procedure is stressful. You will be under a lot of stress emotionally and it is tough to handle everything. Property is an important asset that needs to be handled carefully in a divorce. In many divorce cases, it is tough dividing the property. The following are some points that you need to know about property valuation in a divorce:
Not only looks at the current market value
Valuing a home or any other real estate when a divorce is occurring is like the procedure that a real estate professional or property valuer undertakes when putting a property for sale. Often a comparative market analysis draws inferences about the particular property’s value. This is done from the sale price of properties that are similar in the close by area.
It is considered if the property was bought during marriage. When the property was purchased before the marriage, both parties could have interests. It depends on the area you are in, according to this you will know whether the law allows both spouses to have a share in this.
Potential future value
The potential future value may also have a role to play on what the court decides. This is mostly true if the property was bought during the marriage.
Not only looking at money
The judge may not look at the sentimental value of the property when deciding how to divide it. However you should not ignore this. You must be honest with yourself and try and divide the property fairly.
It is better to avoid getting stuff that you do not like. Some people may do this simply to frustrate the other party.
Think about hiring a professional
It is very possible that negotiations may not occur between both parties. This may be due to the history present. If you are in this case, you should get the help of a professional. You can look for divorce valuation.
A professional will not have personal feelings and can give you an unbiased opinion. They can tell you the value of the property according to market trends. The court may ask you to get the help of an expert to do this.
When both parties hire a divorce valuation company, they can know that they will not get cheated out. But you need to carefully select one if you want to get professional and fair prices.
When looking for a company, take out time to do your research thoroughly. Do not get trapped in marketing ploys. Have a look at reviews and references. Check out the website of the property valuation service if you want to see what they provide. Make sure that they specialize in divorce property valuations. They should have experience in this field so that they can help you out. The company must have the right licenses and be qualified to do the work. Ask how much they will charge for the services before choosing any one.