Legal Question in Family Law in Massachusetts

Re: Real Estate and Divorce

You have to factor in other costs in accepting or rejecting a buyout offer. In this market, the prices for real estate are going down.

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Re: Real Estate and Divorce

You are not required to accept her appraisal. You should get your own estimate of the value or sale price. You should also consider the costs of a sale as well. Moreover, real estate prices are very weak at the moment.

Good Luck

Re: Real Estate and Divorce

I agree with the other counsel who answered this question. First thing to do is get a second appraisal if you are dissatisfied with the first. If the second appraisal also comes in at or around the original low number, then that is most likely the fair market value. It is often said that sellers overvalue their homes, but we don't know until that second appraisal. Likely a good investment of a few hundred dollars.

Note that if you do sell, you have a broker's fee (most likely, unless you do it yourself) and then perhaps a capital gains tax if you have had the home for a long time and it has appreciated substantially.

Also, buyouts are relatively quick; you don't have to wait 6 months or more to get your money, while the house sells.