Legal Question in Real Estate Law in West Virginia
laws concerning real estate appraisals
My mother was remarried and this man has a daughter. the man died and according to his will my mother could live in the home as long as she wanted but it she decided to move the house would be sold and the money divided equal between them. The daughter specified certain rules about selling the house. 1. It must be appraised by a licensed appraiser. 2. The daughter has first option to buy 3. The daughter must approve the sale.
1. Who should pay for the appraisal?
2. Is there any way the daughter could have the house appraised at a very low price, thus allowing her to pay my mother a very small amount, and then reselling it for a higher amount?
3. Is there were different ways for different reasons that a home would be appraised low or high or if a certifed appraiser had to appraise the property value the same for any situation.
1 Answer from Attorneys
Re: laws concerning real estate appraisals
Each may pay for their own appraisal and "split the difference" if any, to arrive at a "fair price." Or, each can pay half the cost of an appraiser they both agree to use.
If your mother gets a "fair price" then why does it matter what the stepdaughter does with house.
Frankly, if the house was purchased with resources the deceased had prior to marriage to your mother, the deceased appears to have been more than generous, to your mother, with resources the step daughter may feel she was entitled to receive, rightly or wrongly.
Good luck,
Phroska L. McAlister,Esq
Good luck,
Phroska L. McAlister,ESQ
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
