Divorce situation - appraisal too high

[TC]

Hey, 10-20K to get rid of your wife. Some would say you're getting off easy.

 

[Abester]

Why not just get another appraisal and split the difference? The opinion is the opinion and everyone has one. An appraiser worth his/her salt and knowing that a report may eventually end up being used in court testimony will have sufficient documentation to support his/her opinion - whether anyone else agrees with it or not. That's for the court to decide.

 

[Deleted member 77547]

If your appraisal is "$10,000 too high" and you intend on keeping the home I suspect you will have to split the difference, so you're talking roughly $5,000? Of course the attorney feels the value is too high..its his job to keep this going because divorcing couples are cash cows. Now you're going to dispute the appraisal and your probably paying the attorney(s) what, $200 an hour? Lob the dispute back and forth a couple of times between the attorney(s) and there goes roughly $2,500 of the $5,000 you think you're saving. What's the point? Divorce is ugly and it is costly. Cut your losses and move on....if I might be so bold.

 

[JonGalt]

Why don't you just get a second opinion? Seems you already saved a whopping $150-$200 dollars by sp[litting an appraisal fee, for a divorce? To me it would be prudent to get at least 2 opinions of value. In Chicago this would cost about $700.00. Now if you had 2 seperate opinions of value it would help make the picture clear wouldn't it?

In some estate situations with multiple sibling inheriting property I've been 1 of 4 appraisers, each aquired by a different sibling. In that case there was a 10K range in values on a 400K home, not too bad.

I can't see why you would rely on 1 appraisal for something that has you this upset. Maybe the value is correct where it's at, get a second opinion.

 

[Boonders]

why don't you just actually sell the house and split the proceeds...?