Market vs appraised value ?

Your spouse is wrong. Appraised value and market value are not always the same number, though they can be close. An appraisal is one person's professional opinion of value on one specific day, based on comparable sales and the condition of the property. Market value is what a willing buyer would actually pay in a competitive sale on the open market. In a divorce buyout situation, there's no competitive bidding, no multiple offers, and no market pressure driving the price up. The appraisal gives you a baseline, but it doesn't account for what you might net if you listed the home and let the market decide. That said, in a divorce buyout, the appraisal is typically how courts and attorneys determine fair value for dividing assets. If you believe the appraisal is low, you have the right to get your own independent appraisal. If the two appraisals differ, the attorneys or the court can work from an average or order a third appraisal. Keep in mind that selling on the open market has costs too. Agent commissions, closing costs, repairs, and the time it takes to sell all reduce your net proceeds. If the appraised value is $142K and you'd net $125K after selling costs on the open market, the buyout at appraised value might actually put more money in your pocket. Get your own appraisal so you're not relying solely on one number. Then compare the buyout offer to what you'd realistically net after a market sale. Make a business decision, not an emotional one.

An appraisal is one person's professional opinion of value and is primarily used by lenders to ensure they aren’t lending more than a property is worth. It’s based on recent comparable sales, square footage, condition and features. Market value, however, is what a willing buyer and seller agree to in an open market. In a strong market, homes can sell above the appraised value, and in a softer market they may sell below. For a divorce buy-out, you and your spouse are effectively negotiating a sale between yourselves. The appraised value of $142k gives you a data point but doesn’t necessarily reflect what the home would bring if you listed it publicly. Manufactured housing can fluctuate widely based on location, land value and buyer demand. If you believe the property would command a higher price, you could seek a second appraisal or request a comparative market analysis from a local real estate professional to see what similar 2018 manufactured homes in your area are selling for. Keep in mind that if you were to list the home on the open market you would incur selling costs such as agent commissions, marketing expenses and possible repairs. There is also the risk that it doesn’t sell for significantly more. Ultimately the price you agree on for the buy-out is negotiable. Using multiple sources—appraisal, recent sales data and input from a local real estate agent—can help both parties feel confident that the value is fair. A mediator or attorney can also assist in structuring the agreement so that the buy‭out meets any requirements in your divorce settlement.

Hi Tamara, it just depends on who you hire, the agent needs to know the market. Right now it's time to sell, buyers are paying over the asking price click on my bio if you need more hello I can answer questions more in-depth.

Nothing surprises me in this market. What city/state is your home in? How much land? Is it a single, double, or triple wide? Have you made any upgrades to your home? I am happy to send you site-unseen offers from 3 large investment firms. Honestly, I believe you would receive more by listing on the MLS....but you just never know. Amy Quimby 817-564-3878