{"id":35,"date":"2012-08-17T15:25:26","date_gmt":"2012-08-17T15:25:26","guid":{"rendered":"http:\/\/appraiser.wpengine.com\/?p=35"},"modified":"2012-08-26T13:01:13","modified_gmt":"2012-08-26T13:01:13","slug":"property-settlement","status":"publish","type":"post","link":"http:\/\/www.appraiserminneapolis.com\/?p=35","title":{"rendered":"Property Settlement"},"content":{"rendered":"<p>&nbsp;<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 20%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-1' class='gallery galleryid-35 gallery-columns-5 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='http:\/\/www.appraiserminneapolis.com\/?attachment_id=44'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"http:\/\/www.appraiserminneapolis.com\/wp-content\/uploads\/2012\/08\/081620121-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" \/><\/a>\n\t\t\t<\/dt><\/dl>\n\t\t\t<br style='clear: both' \/>\n\t\t<\/div>\n\n<p>An unbiased opinion of value, provided by a qualified real estate appraiser, is the first step toward a fair settlement between people who have opposing interests in the value of jointly owned property.<\/p>\n<p>But an accurate appraisal is just the beginning.\u00a0 If one party is buying out the equity of another, consideration should be given to the cost of selling on the open market. \u00a0Here is an example.<\/p>\n<p>Suppose that a house sells for $300,000 and the mortgage payoff is $200,000.\u00a0 That leaves $100,000, so the buyout should be $50,000, right?\u00a0 Think again.\u00a0 The costs associated with a $300,000 sale might be 10% to cover commissions and seller paid items.\u00a0 With these costs figured in, the funds available after the sale closes would be $70,000.<\/p>\n<p>But there is more. \u00a0When a buyer makes their offer, they often include an inspection contingency. \u00a0If the inspection reveals repair items, the seller may need to pay for those, or negotiate a lower price.<\/p>\n<p>In our example, lets say the inspector finds a problem that requires a $4,000 repair. \u00a0Now the true equity is $66,000.<\/p>\n<p>If one party is buying out the equity of another, $33,000 seems like a fair settlement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; An unbiased opinion of value, provided by a qualified real estate appraiser, is the first step toward a fair settlement between people who have opposing interests in the value of jointly owned property. But an accurate appraisal is just &hellip; <a href=\"http:\/\/www.appraiserminneapolis.com\/?p=35\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35","post","type-post","status-publish","format-standard","hentry","category-marketpulse"],"_links":{"self":[{"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=\/wp\/v2\/posts\/35","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35"}],"version-history":[{"count":0,"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=\/wp\/v2\/posts\/35\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.appraiserminneapolis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}