Selling a home is not always easy, especially when you have the emotional and physical toll of a divorce added on top of that. However, at the end of the day, getting it done as quickly as possible for a fair and equitable price means that both of you can move on with your lives.
Think With Your Brain, Not Your Heart
Two of the most stressful times in a person’s life are when they’re buying a house, and when they’re going through a divorce. While a divorce can be an emotional rollercoaster, you need to think of this as a business decision, and not an emotional decision. Because the decisions you make during the divorce will affect your future after the divorce is settled. How you rebound from this divorce is directly related to the financial decisions you make during the divorce process.
Don’t Move Out Too Soon
Oftentimes, divorcing couples are ready to move out of the marital home and move on with their lives. The problem with this is when both parties leave they’ll usually take their stuff with them, leaving an empty house which can be less attractive to prospective buyers. While staging a home can help, it is also quite expensive. You or your former spouse can end up spending thousands of dollars staging a home just to make it sell quicker. If it’s possible, leave some of the furniture, fixtures, and other accessories in the home, which will help your financial costs when selling the home.
Additionally, having one party stay in the home until it sells will allow you to keep the monthly housing expenses in check, instead of having to juggle multiple housing bills which can become unsustainable very quickly. Depending on the market and the state of the home, the property could be on the market for 75 – 100 days. That’s a long time to juggle paying a mortgage and other housing bills on top of your current bills for your new home.
Make Sure You Agree On The Details
There are a lot of moving parts to selling a home, add on the logistical hurdles that can come with a divorce and your head will be spinning in no time. Here are some key details for you to discuss with the other party and come to an agreement on them so there aren’t any roadblocks that spring up mid-sale:
- What is the lowest offer you’re willing to accept?
- Who’s staying, and who’s leaving?
- Are there any costs for staging or repairs? Who is paying them?
- What services for clean-up (painting, cleaning, minor cosmetic repairs) are going to be hired out?
- How involved in the day-to-day marketing of the property does each party want to be?
- How in the loop does each party want to be on showings and other details?
- What are each spouse’s responsibilities in the home sale?
- Which real estate agent will you use? Do you both agree to their fee?
- What is the pricing strategy?
- How much notice does each party need for a closing date?
- Do you both agree on the attorney for the sale if needed?
- What times are off-limits for showings? Will the party living in the home be able or expected to accommodate last-minute showings?
Keep Calm And Always Look Forward
Selling a home during a divorce is probably one of the most stressful events that a person can experience in their lifetime. There will be challenges and emotional landmines everywhere. You can get through this if you make sure you have the best possible options available to you. We’re here to make sure that you do. We’ll walk you through every step of the process so you can close this chapter of your life and move on to the next one.
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