Bedminster, NJ Real Estate Appraisal Services
Bedminster, NJ Real Estate Appraisal Services for Divorce Settlement
Persons in the process of a divorce in Bedminster, NJ commonly call on a real estate agent rather than a certified NJ real estate appraiser to determine the price of their home to buyout the other party or to sell and split the proceeds. Often neither the wife nor the husband trusts the other real estate agent’s price opinion especially when one party is keeping the house and the other party hopes to cash in on some equity.
The main problem with using a price opinion from a realtor as opposed to a certified appraisal value is there are very, few full time real estate professionals in New Jersey capable of furnishing an accurate value of a home that can be argued in the court of law. When a real estate agent produces a comparative market analysis (CMA) for a home, most of the time he/she fails to determine square footage of the home; this is vital when determining the value of a home. This is why many New Jersey real estate transactions are not successful overall. The bank will order an appraisal of the home to be purchased and the appraisal will come in lower than the actual purchase price. This process protects the bank as well as the purchaser from over-paying for the property.