How To Sell Your Home During a Divorce

Getting divorced is probably the least enjoyable situation you’ll ever face in your life. But it’s becoming even more difficult and stressful when you have to sell your family home at the same time. For many people their homes are the biggest investment in their life, not to talk about the home’s emotional value. Let’s consider the lighter side out of this headache. Selling your home and dividing the proceeds will help both the husband and the wife to have chance start from a new clean paper. Paying off the mortgage first is sometimes a must. And there can be such situations when only one of the family members has a job and he or she wants to be the solo decision maker when selling the house and getting all the money. In any case, there are many situations and problems that would make the divorce process more complicated and stressful. Here we provide some useful tips to make the selling process seamless.

Business vs emotions

Never let your emotions take over. You should admit that selling your house is the best option for your children and other family members, and, after all, you’re at least happy with the result of the home sale. Treat this situation as a business transaction. Now, when you’re getting divorced, you really have very little time to sell your home. So you should have a plan, a right-priced house and try to get most for your property. Be careful not to let your emotions take over. Never make decisions affected by anger or sadness. Remember, you’re starting a new life and you need to keep calm not to add stress to this situation. This will not last too long, so try your best, to think with a cold head.

Have a clear understanding about the state of current housing market

As we’ve mentioned above, pricing your home is very important, especially if you don’t have much time. You should know the housing market for your area to be able to find the best price for your home. Consider to check out other houses in your area and where you’ll going to live after the divorce. Make sure you’ll get enough money to go on. Do not forget about another nuance: are both parties happy with the price? Even most happy couples sometimes can’t agree on different things. Now, when you’re getting a divorce, it may seem even more difficult to find the best option for both of you. As you don’t want the process to last long and will have to adjust home’s listing price after some period, rethink your asking price at the very beginning. Maybe it’s better to ask a bit less or negotiate with the prospective buyer, who has offered some 2-3% less money than your asking price is.

Selling a happy home is much easier

Home selling process is not one of easy ones. In addition to many other things you should also consider that the showing is very important. Try to stage a happy house. Never show a closet with only women’s or men’s clothes. If you already live alone, ask a professional stager to come and fix problems. Or just ask a friend to bring some clothes to fill the empty spaces. People are very sensitive to such things. Everyone wants to live in a happy house with good memories and atmosphere. Remember you don’t have much time and your potential buyers should see you’re really motivated on selling. Have plan for showings and strongly stick to it. Your house should be available for showings whenever a buyer asks.

Buy out

Well, there is a very good and easy option for sellers who are going through a divorce. It’s when one of the spouses buys out the other. In order to have this option become true, the one who wants to buy out should refinance only in his/her name and get all the responsibilities of the house. If you can afford the mortgage alone, you’ll get pre-approved and will have the permission to buy out. It’s a good idea to have an attorney and court involved.

Work with a professional  

While selling by owner can often be a great idea with today’s online sources and online listings, when you’re going thought such a complicated process like a divorce is, you’d better hire a professional realtor. Consider that he or she should be experienced in this kind of selling transactions and would be the neutral party to collaborate with both soon-to-be exes. You should also know for sure how to find a realtor you are in need right now. Check out this article by Kyle Hiscock to see how you should interview the real estate agent. Be sure the realtor can handle stressful situations and help the divorcing couples look at any conflict as a business transaction. Never work with a real estate agent with personal ties to one of the parties. A good professional should communicate with all parties equally, and if there is a special need, the right realtor will also deal with attorney and courts.

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Related:

How to Hire a Real Estate Agent in Divorce by Bill Gassett

By: Hermine Aslanyan

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