Divorce Appraisal Checklist
For a great majority of people, and yes, that involves introverts, relationships with others are the most important element of their lives. Thanks to relationships, we can find the motivation to carry on when the times are hard. At the same time, without the company of others, we would quickly succumb to boredom.
Unfortunately, even though initially you might be all but certain that the other person is a perfect match for you, with time, you might start having some doubts. Sometimes it is possible to fix such a relationship through mutual effort, but on other occasions, a divorce is the healthiest solution.
However, going through a divorce is not that simple. To evaluate the value of your property and the property of your partner, you will have to go through a divorce appraisal first. If you are not sure how to go about it, we have prepared a list of tips that should help make this process as smooth as possible.
Create a List of All of Your Belongings
If you want to make a good appraisal, you need to know exactly what you own. If you own a house, include its estimated value in your list. If you own golden jewelry, try googling how much is gold worth to figure out how much it is worth.
At the same time, keep in mind that the value of your property may change depending on the current housing market situation. In other words, do not use the price that you paid for the property as your only reference point.
Make a List of All of Your Debts
Next, you should create a list of all of your debts. Your partner might have debts or credit cards under their name, but that does not mean that those debts should be considered yours. If possible, add an estimation of the interest rate and the total amount that you would have to pay to pay off each of those debts.
Make Sure That You Are Aware of All Legal Issues Related To Your Property
If you want to make a good appraisal, you need to learn everything there is to know about the legal issues related to your property. For example, if you own a house that has been in your family for generations, make sure that you understand whether or not your partner has the right to take it away from you.
Discuss Your Plans With Your Partner Beforehand
For some people, undergoing a divorce appraisal is rather difficult and stressful. That is why it might be a good idea if you and your partner discussed your plans. That way, neither one of you would feel disrespected by the other party in any way. If possible, try to discuss this issue with a therapist. It will definitely make things easier for both of you!
Make Sure That You Are Not Underestimating the Value of Your Property
When it comes to divorce appraisals, it is very easy to underestimate the value of your property. If you end up doing that, you might end up missing out on a large sum of money. That is why you should make sure that you know the exact value of everything you own.
Keep in Mind That the Appraisal Is Not an Absolute Truth
No matter how much effort you put into making an appraisal, it is still possible that you will be forced to pay more or less than you originally expected. Moreover, you should not just accept what the other party offers you. It might be tempting, but it is important to negotiate and find a solution that works best for you.
Remember That There Is Always a Chance That You Will End Up Getting a Better Deal Later On
Divorce appraisals are usually conducted while both parties are keen on leaving the marriage behind as soon as possible. However, you should not just focus on making the process as short as possible.
In fact, at some point, it might become clear that you and your partner have more common interests than you thought. In that case, if you give it more time, the appraisal might end up being adjusted in such a way that both of you will benefit from it financially and emotionally.
While a divorce appraisal might seem like a complicated ordeal, there are many things that you can do that will make it more likely to go smoothly. For instance, you can make a really detailed list of your belongings or discuss your plans with your partner.
If you ever feel like you do not really know what you are doing, you might want to hire a lawyer who will help you out with the whole process. Once you do that, you should be able to make a great appraisal in no time!