Legal Question in Family Law in Indiana

Divorce Using Appraisal for Home

Reviewing an appraisal of my home from 3 years ago for refinancing, it was noted within, '' if better comparable sales had been available, the value estimate of the subject would be higher. The cost approach was considered accurate, but not used to establish value due to the comparable sales available within the past year in the subject area.''

My question is, how accurate can this appraisal be for a true home value ? My spouse has served me with a dissolution of marriage and plans to use this appraisal as a negotiating tool to distribute the equity between us.

Also, can you give me an idea of what the annual appreciation rate of a quality custom home in rural Indiana might be for the past 3 years ?

Please advise this situation and thank you.


Asked on 1/20/05, 7:27 pm

1 Answer from Attorneys
Mary Ann Wunder Wunder & Wunder

Re: Divorce Using Appraisal for Home

I would recommend that your appraiser be called as a witness to testify at your trial (or a deposition taken) to explain the factors that enter into an appraisal. Optionally, you might have another appraisal done to challenge the value set out on an older appraisal.

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Answered on 1/21/05, 8:44 am


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