Divorce: How to Sell the House
One of the most difficult sales situations can be a divorce.
It is difficult emotionally, often financially, and timing is often a challenge.
Dealing with the matter at hand and keeping the emotions out of the transaction require an experienced agent who can lead the transaction to a successful conclusion.
Things to Consider:
- How is the house titled (owned);
- Is the house in a Trust? Who is/are the Trustee(s) and are they in agreement?
- Is there any written agreement, proposed agreement, or court-order regarding the home?
- Are there proceeds from the sale or will the sellers have to bring certified funds?
- Is there an Order of Protection?
- Do the attornies need to be consulted during negotations?
- Does the house need repairs or updating? Are there funds to pay for it?
- Who is living in the house? Are there timing issues to consider (e.g., kids in school)
How to Maximize the Profit:
- Is the house occupied? The best situation is to vacate the house. It is extremely difficult to sell a house when a tenant or owner doesn't want to sell it.
- If the house is occupied:
- make sure the occupant(s) understands the difference between living and showing condition.
- Make sure the house is accessible and able to be shown by agents.
- Spot check the house and document any issues.
- Is the house packaged for sale? Cleaned, painted, updated flooring and appliances?
- Buyers looks for distressed situations - make sure that the divorce is kept confidential.
- Hire an agent who is experienced with these situations - communication is key to a successful transaction.
Please let us know if we can be of service to you or answer any questions!
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