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Real Estate and Divorce

One’s home is a visible asset and has emotional ties to members of the family. Keeping or selling a home when children’s needs are involved is another factor to consider as are emotional attachments and consistency for them. Sometimes the convenience of the home’s location is important as well. There are many alternatives with regard to dividing assets and property so that no one walks away “the big winner”. The best end result may be that the property is divided in an affordable and equitable manner.

A home may be the biggest financial asset, or given the current real estate market, a liability. Given the emotional and monetary value, it may become a point of serious debate between spouses. It is important for couples to understand the economic realities and legal rights before making any major decisions. A divorce attorney can appropriately advise you given your specific circumstances.

Why work with a real estate divorce expert?
 
The term Real Estate Divorce Expert is better used to explain the role of an experienced Realtor who has skilled practice in the divorce process. We do more than just sell houses; we are a neutral third party that will coordinate and assist cooperation for couples who are facing a divorce situation. Cooperation will help reduce stress, promote advantageous terms, and will likely help both parties gain the most amount of money in the least amount of time.
Here is a list of important functions that we as your real estate divorce expert will perform:

  • Set the property asking price: We will perform an informal appraisal and propose a listing price based on our neutral market assessment with fairness to both parties. (Consider that without a neutral 3rd party one may find themselves in a situation where their spouse and his/her attorney may presume a “fast one” is being pulled. Ask yourself, will this cost you additional, unnecessary legal fees?) 

  • Preparing the house for sale: Our plan includes suggesting cost effective strategies to best show the house such as staging ideas and tips to make the home appear more spacious, uncluttered and sparkle. This will help capture the best pictures in order to showcase the home worldwide. Ask yourself: how much would it cost you to hire a professional staging company and photographer? Which spouse pays for what? What about disagreement about personal belongings? Could disputing on these types situations cost you unnecessary legal fee? 

  • Preparing the house for marketing: Our state of the art marketing plan will bring you the best results. This plan includes suggesting cost effective strategies to best showcase the house such as staging ideas, a personal property website, showcasing your home on numerous websites, custom mobile phone website access, unlimited media to market your property and over 30 additional marketing tools to get you home sold. (There are no upfront fees, compensation occurs at the close of escrow). Ask yourself: can both parties agree on an advertizing budget, afford the proper marketing tools to get enough buyer exposure and network with enough buyer agents? 
 
The Right Reasons to Sell Your Home When Getting a Divorce
   
If you’re thinking of selling your home, make sure it is for the right reasons. Here are a few tips:
 
  • Right Reason #1 -Memories: There are many memories (good and bad) attached to a home, however, it may be healthier for one to move forward and make fresh new memories in a new home/location. 
 
  • Right Reason #2- Getting a fresh start: There are some children including teenagers that may not be able to handle a divorce in the family as well as others. Perhaps moving to a new home will be emotionally healthy for you and your kids (fresh start). Also, consider keeping your children in the same schools and close to their close friends if possible. The other side is that moving could produce the opposite effect and compound the emotional stress. If you or a close family member have had a discussion with your child regarding the situation and it appears not to help, you may want to consult with a school counselor or child psychologist. 
 
  • Right Reason #3- Can’t afford to keep the home: A homeowner may not be able to keep the house on their own with only one income and the property expenses could be overwhelming putting them in a financial negative. Perhaps having a family member or close friend move in to share the expenses may help. If this is not an option then selling the home is most likely the best alternative.

We understand that a divorce situation may be emotionally overwhelming; the good news is that you don’t have to handle these adjustments alone. We are happy to assist you with a comparative market analysis, data of current home sales and an expert insight on the selling and buying process. Since we are realtors we recommend that you seek the advice of an attorney or financial consultant with any questions regarding divorce. We can also connect you to the experts in the legal, financial and other fields who specialize in helping couples facing divorce.
 
We are a group of experienced individuals and are dedicated to serving you during this difficult time of divorce. Our goal is to help alleviate the stress by guiding you through this crucial process.
 
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