almost done
Member
What is the name of your state? New York
I have been going through a divorce for 2 years now. Part of the problem has been the argument over the marital residence, well quite frankly, i dont want it anymore. The last appraisal was done on the property nearly 1 1/2 years ago, it was valued at 157k. I just decided that i didn't want the house this week, so i contacted a licensed realtor to find the value of the house on the market, and the result was 217k if listed in todays market. So if the soon to be ex was still interested in buying out my share of the residence would it be based on the old appraisal or the new fair market value as determined by the realtor? Also note that the length of time for the other 9 comparible houses was on average 40 days.
Lastly, there is also approx 30k worth of debt associated with the house, (loans that were taken out for remodelling), would i likely also be reimbursed for these funds as well? as the monies were directly responsible for the increase in equity?
Thank you in advance for you help
I have been going through a divorce for 2 years now. Part of the problem has been the argument over the marital residence, well quite frankly, i dont want it anymore. The last appraisal was done on the property nearly 1 1/2 years ago, it was valued at 157k. I just decided that i didn't want the house this week, so i contacted a licensed realtor to find the value of the house on the market, and the result was 217k if listed in todays market. So if the soon to be ex was still interested in buying out my share of the residence would it be based on the old appraisal or the new fair market value as determined by the realtor? Also note that the length of time for the other 9 comparible houses was on average 40 days.
Lastly, there is also approx 30k worth of debt associated with the house, (loans that were taken out for remodelling), would i likely also be reimbursed for these funds as well? as the monies were directly responsible for the increase in equity?
Thank you in advance for you help