Orlando, FL asked in Divorce for Florida

Q: Hi, my spouse will not agree to anything other than an Appraisal to value our marital home and we WILL end up in front

of a judge if I don't agree to it. He and I are near the end of our divorce process with just this one last item to negotiate. We have a mortgage is in his name only and the deed in both of our names. We agreed to sell the home until just before our separation, then split the equity. Now he wants to stay in the home and buy me out.

The problem: He'd like to use the appraisal value, but I'd like to use a Realtor's Comparative Analysis I obtained (or a value pretty close to it). I do believe the appraisal value will be approximately $75k, or 20%, lower than what the home will sell for, as this was the case 14 months ago.

If we can't agree and end up in front of a judge, what value will the judge use? Will he/she take into account what comparable homes have sold for in our subdivision very recently?

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2 Lawyer Answers
Michael Ferrin
Michael Ferrin
Answered
  • Orlando, FL
  • Licensed in Florida

A: The Court will either sell the home or may consider the refinance. You would need to have an expert such as a very experienced realtor to come in and testify as to how they came up with the numbers and why their numbers are more accurate. The court will also need to consider the cost of the transaction.

Rand Scott Lieber
Rand Scott Lieber pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
Answered
  • Hollywood, FL
  • Licensed in Florida

A: It is also possible that the court will simply order the house sold on the open market. The real value is what someone is willing to pay for it.

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