Posted on: 13th Oct, 2009 06:15 am
After divorce, exhusband, who was awarded the home was to split the equity in the home with me. I need to know what that amount will be.
Home was purchased for 63,000. There is about 40,000 left on the loan. County appraisal district has appraised the house at 120,000.
Home was purchased for 63,000. There is about 40,000 left on the loan. County appraisal district has appraised the house at 120,000.
your best bet would be to have an appraisal ordered. if your ex-husbands plans are to refinance the property to give you your equity, then an appraisal will be needed anyway. i hope this helps...
So after appraisal is done, would the equity be the balance of the remaining loan subtracted from the appraised value?
Hi Leti,
The equity in the property could be calculated by subtracting the loan amount from the appraised value of the property.
The equity in the property could be calculated by subtracting the loan amount from the appraised value of the property.