Legal Question in Real Estate Law in Massachusetts
Fair Market Value
I would like to know if a Mass. Judge will use Fair Market Value in the desiding factor of me buying my wife out of our home or if he will go with a Realitor's market analisys. I can buy it with the fair market value price, but cant afford it if we go with the ''possible'' Realitors suggestion.
1 Answer from Attorneys
Re: Fair Market Value
A Judge will want to use fair market value but a real estate agent's market analysis is not necessarily fair market value. I would suggest you get an appraisal. Also, you could reasonably argue that a 6% commission would normally be paid and as such, you should be entitled to reduce the value by the cost of the commission.
You would be better-off reaching a settlement with your wife and agreeing a value, that is supportable by independent verification.
I would suggest you get an attorney to assist in resolution the matter as it would appear your dispute is becoming difficult.
Good Luck.