(1) No sale under execution, attachment or judgment of property occupied as a homestead shall be had until the officer executing the writ or judgment has the part thereof selected by the defendant as his homestead exemption, not to exceed five thousand dollars ($5,000) in value, valued under oath and set apart to him by two (2) disinterested housekeepers of the county. These appraisers shall be selected by the court or officer, and if they disagree the officer making the sale shall act as umpire.
(2) The valuation shall be in writing and signed by the person making it and returned to the court. The officer shall refer to and explain the proceedings in his return on the execution, which shall be recorded in full.