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Updated almost 4 years ago on . Most recent reply

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Sue Smith
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Cash out for Divorce

Sue Smith
Posted

So, the home is paid for. There is a divorce in progress. The home sits on inherited property, his inherited property, so he will get the home, and has to buy her out of her half. There is a loan being made to buy her out. An appraiser came out, finally, and did an appraisal, and the appraisal came back at what we thought was right on target. However, she wants way  more money for her half. He is making a loan for the value of the house and will, of course, give her half of the appraised value. This is the number she is unhappy with. She is saying she wants to hire her own appraiser and have it redone. He was told he couldn't hire an independent appraiser it had to be done through the mortgage company so they would be unbiased. Is this something she can do?  I forgot to add we are in Texas, I don't know if that matters or not.

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Nicholas Covington
  • Mortgage Broker
  • Dallas, TX
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Nicholas Covington
  • Mortgage Broker
  • Dallas, TX
Replied

Sounds like they should have an attorney invovled. You can't just sit there and demand more money lol. She can hire her own appraiser if she wants but it would be a waste, the lender is the one in control, not her or him. Nothing can really be done until their divorce is final anyways, I don't work with pending divorce people.

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