If you bought your home while married, but you’ve decided to separate, the chances are you won’t want to continue living together, and selling can give you both the opportunity to move on. But selling up and splitting the proceeds can come with a few different complexities, which can add to the stress of the divorce. So in this post you’ll find out how to sell your home in a divorce, and limit the stress of the situation.
Agreeing on agent is key to a successful sale. If you struggle to agree on which agent is best, you can always involve an objective third party, like a friend, or you could simply ask a real estate company to provide you with an agent they recommend.
Picking a good agent can take a lot of the stress out of selling in a divorce. They can negotiate for you and help you get the best price for your home. So once you’ve taken an agent on board, you can sit back, and if need be, keep your space from each other, whilst you let the agent sell and market your home for you.
Setting the asking price is often something that can cause tensions, as on the one hand, you want the sale to go through quickly, but on the other, you want the best price for your family home, both for financial and sentimental reasons.
Rather than trying to decide together on an asking price, leave this to your agent. After all, they’re the expert, and it’s in their best interest to secure the best possible price for you.
Before holding an open house and inviting potential buyers to view your home, you need to make sure your home looks and feels its best. You’ll need to repair any damages, or touch up some paint work—anything that will show buyers that the house has been looked after.
But to do this, you’ll need to agree on who pays for repairs and touch ups. The simplest way is to split the cost, but if one person pays, this may need to be considered when dividing the proceeds.
You also want your home to have a warm and friendly feel, so if the two of you aren’t on particularly friendly terms, it can be best to make yourselves scarce when buyers visit your home. Buyers often judge houses on the ‘vibe’ they get from the home, and if there’s tension in the air, it may put people off.
If you’ve each paid equally into the house, this shouldn’t be too difficult. You can just split the proceeds after you’ve paid off the mortgage, the selling fees, and any other debts.
However, if one person has paid more into the mortgage, or into the house (for repairs or renovations), the proceeds will need to be divided accordingly. This can be worked out between you, or if you’re having a hard time agreeing on how the proceeds should be divided, you can always hire a lawyer.
We know this can be one of the most stressful times in life, so if you are wondering how to sell your home in a divorce, let us help take some of the burden off of your shoulders.