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Estimating a home’s worth pending a divorce

On Behalf of | May 29, 2017 | Property Division |

For many Texas couples, divorce is a realistic solution to resolving marital conflict and reinstating a measure of tolerability in the relationship. However, divorce proceedings can be challenging and at times confusing when dealing with decisions regarding property division for example.

Often, a couple’s most highly valued asset is the joint ownership of their home or other property. The Huffington Post suggests three ways in which divorcing couples can accurately assess the value of their home without allowing personal opinions to create subjective evaluations. These include the following:

  • Comparative market analysis: More commonly known as CMA, this method involves utilizing statistics of surrounding properties to make a likely assumption about the value of one’s own property. While not completely accurate, a realtor can assist a couple in comparing their home with similar models in their area to assess potential sale value.
  • Personal research: If a couple feels comfortable sitting down together, they can do their own research to identify a likely estimate of how much their property is worth. They may even choose to do their own individual research and then discuss the results with a mediator.
  • Home appraisal: Perhaps the most effective and factual, the third and final way for a couple to estimate their home’s worth is to receive an appraisal from a reputable company. With a factual description in writing, there are not any clauses left to personal discretion or interpretation.

According to the Centers for Disease Control and Prevention, in a population of 1,000 people, the divorce rate is approximately 3.2 percent.