Home Inspection Considerations During Family Transition
Home inspections are very useful for people going through separation and divorce. Most often, separating homeowners need to sell their matrimonial home to finance a new living arrangement. A qualified Home Inspector can assess your current or prospective home, providing valuable insight into problems or potential problems and details regarding possible costs.
“Most often, separating homeowners need to sell their matrimonial home to finance a new living arrangement.”
Divorcing spouses will have their house appraised and then rely on the appraiser to determine its fair market value. This conventional pricing process tends to rely on square footage, condition, features, updates and location. The appraiser does not consider whether home repairs are required. These costs can impact selling values and may provide an inaccurate appraisal if one of the spouses remains in the home.
A home inspection, on the other hand, will determine if the features and structure of the house are functioning the way they were intended. Home inspectors will provide information that can help the appraiser establish a more accurate estimate of the home’s worth. Additionally, it could be used in negotiations for equalization payments in a Separation Agreement. When assets are split, the inspector’s report provides a more accurate account of the home’s value. This helps with negotiations during the separation process or with purchasing new homes.