When you’re trying to sell your home during or after a divorce, the last thing you need is a complicated home sale.
It’s my job to make sure you can sell your home for the most money possible in the least amount of time. In this book, you’ll learn the ins and outs of selling your home in a divorce. Splitting up the house can be a tough thing to do, but with this guide, you can rest easy, knowing you’re in good hands.
The house you live in may be the largest investment you’ll buy in a lifetime. It may also be considered community property, which can be a source of many complications if you are considering getting a divorce. Different from your bank accounts, debts and shared frequent flier miles, a house can’t physically be divided between divorcing spouses, which means that you or your spouse can buy each other out, or sell the house and divide the sale proceeds.
We’ll discuss why selling your home before filing for divorce may actually be your best option:
Is selling property before divorce settlement a good idea?
Most importantly, you should make plans to place the house on the market for sale as soon as possible once you’ve determined that a divorce is in your future. By placing the property on the market early, you’re are maximizing the amount of time it is available and the potential of drawing more interested buyers. This increases your chances of receiving a favorable offer can live with and therefore having more net proceeds to divide between you and your spouse.
Eliminating the house asset before getting divorced can also help in moving your lives forward, letting you both move out and become accustomed to single life in separate homes.
A frequently overlooked benefit of selling a house before the divorce is in your tax filings. It’s not uncommon for the parties, in a divorce, to vacate the marital home. This technically converts the marital house you shared into a second home for you both.
Ways You Can Keep Things Running Smoothly
Selling a marital house can be relatively easy or an absolute nightmare. As you work to evaluate your assets and deal with unresolved issues, the sale of the home can eliminate a huge portion of these considerations as it is most likely the largest asset. Selling a house before a divorce can be just the same as selling a home under normal circumstances. The mindset needs to be set that this is a major asset and realize the big picture. If the divorce is imminent, then so will be the division of assets. You should decide on a realtor that you both feel comfortable with. Some may want to use a relative and that may not be the best solution. Having an independent 3rd party agent, with no relationship to either principal, may be the best option.
If selling the home is left to the divorce filing and coupled with all of the other assets, the courts may be the ultimate deciding factor in the terms, price, and person who represents you in the sale. This may ultimately take a direction you would prefer did not happen. That is why seriously considering eliminating the home first is your best option. brianchandler #actionagent #realestate
Real estate pro Brian Chandler of RE/MAX Alliance Group is a top producer and sales trainer located in the Parker, Colorado, area. Whether you’re buying or selling, team up with Brian today! 720.808.1007
