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.


Asked on 3/03/05, 8:46 pm

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.

Read more
Answered on 3/04/05, 1:31 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Massachusetts