A divorce is not something that anyone looks forward too nor expects when they tie the knot. The reality is that divorce happens. A divorce can be emotionally draining, frustrating, tricky, and many other things.
When you add into the picture a marital home, it can get downright crazy. Homeowners who know what it takes and how to sell a home during a divorce increase the probability that the process is not absolutely miserable.
As a top real estate agent in Penfield NY, a suburb of the Greater Rochester NY area, I'm often asked by divorcing couples how to go about selling a home. It's important as a Realtor® to be able to provide some sound advice for these divorcing couples and to help them through the process.
Below is a guide to help sell a home during a divorce. There are recaps from some of the best articles relating to divorce and real estate. Be sure to check out not only the recaps for information but also check out the actual articles as they are all top notch articles on divorce and real estate!
How To Hire A Realtor® During A Divorce
There are a handful of different options a divorcing couple has when it comes time to decide what to do with their marital home. The most popular option is electing to sell the home immediately. It's critical when selling a home during the divorce that you hire a top real estate agent who has experience in dealing with divorces.
Divorcing couples need to know how to hire a real estate agent in divorce since it is different than a traditional home sale. There are specific questions and information that needs to be found out before hiring a Realtor®. Some of the most popular questions to ask when interviewing agents include;
- Have you dealt with divorcing home sales in the past?
- How do you handle conflict with a divorcing couple?
- Are you familiar with the neighborhood?
- What is your list price to sale price ratio?
- How do you plan on marketing the home?
These are just a few of the most common questions to ask when hiring a Realtor® during a divorce. The article linked above was written by Bill Gassett , a top Metrowest MA Realtor who has plenty of experience dealing with divorce and real estate. Check out Bill's article for some great tips on how to hire a Realtor® during a divorce.
Tips For Selling A Home During Divorce
There are many things that people don't think about while selling a home during a divorce. For example, did you know there are tax implications that exist when selling a home during divorce? Getting a divorce can impact the capital gains tax and exemptions.
Dustin Brohm , a Salt Lake City Realtor® addresses in his article the tax implications a divorce can have, legal reasons for selling a home during divorce, and many other great tips for selling a home during divorce. Be sure to check out this sage advice from Dustin!
Should You Hire An Attorney?
Whether you're selling a home during a divorce or not, it's always suggested to have an attorney representing your best interests. When selling a home during a divorce, it becomes almost a necessity to have an attorney since there are many assets that are divided up.
Certainly one of the biggest asset that will be divided is the marital home proceeds. Paul Sian, a Cincinnati Realtor, provides in this great article information as to when a real estate attorney should be hired. Not only does Paul's article provide some great information as to why it's important to have an attorney when selling a home during divorce but also why a real estate attorney is suggested in general.
What Other Advice Is Important When Selling A Home During Divorce?
It's very important when going through a divorce and selling a home that both parties are on the same page as much as possible. One of the biggest areas that both spouses need to be on the same page is pricing. Pricing a home properly is critical especially in a divorce situation. The last thing that a divorcing couple wants is for the home sale to drag on for months and months. Pricing a home incorrectly can lead to a home sitting on the market for months.
Another important piece of advice is that when selling a home during a divorce that the home is properly prepared for the market. Just because a divorcing couple is going through a difficult time does not mean they are given a pass when it comes to home sale preparation. Not preparing a home for sale will ultimately end up costing them more money and time in the future. It's important that a divorcing couple remembers that the home sale is a business transaction and to attempt to set all emotions aside.
These are just a few of the most important advice that divorcing homeowners should follow when selling their marital home. Again, knowing how to sell a home during a divorce can make all the difference in the world and decide whether a home sells or not.
The above article recaps and information as well as the resources below will help divorcing homeowners who are selling their home get through a difficult time. Hopefully the home sale process will be relatively stress-free and more important, successful!
Additional Resources Relating To Divorce & Real Estate
- Real Estate & Divorce via Bundlr
- Selling The House When You Divorce via DivorceNet.com
- Information & Tips For Selling A Home During A Divorce via Learnist