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DIVORCING HOMEOWNERS - BUT FORCED TO LIVE TOGETHER

By
Real Estate Broker/Owner with Real Living GreatWest

Increasingly, Real Estate Professionals are hearing of a trend - which could remind folks of the movie, "War of the Roses."

Current real estate market conditions have some divorcing couples looking to separate their lives, but realizing they can't afford to live apart until their home is sold. 

Unlike a few years ago, when many homeowners had loads of equity to share, and really good credit, current times are providing many glimpses of reversal of fortune.

If you are one of those couples, and need to continue co-habiting until you get the house sold, and shore up your financial situation better, there are things you can do to make life a little easier for yourselves in the interim.

It is also important to understand that staying together can actually have a positive effect on marketing your home.  Home Buyers have become quite sophisticated in recent years, and have a knack for sniffing out signs of Sellers in distress.  Seeing that a couple continues to be together in a home can remove a bit of the appearance of distress - even if it is painful for you!

If you are a divorcing couple and find yourself in a forced cohabitation situation until your home sells, there are a few things that you can do to make the experience a little easier.

(1) The two of you should sit down and discuss your situation as peacefully as possible.  Perhaps putting yourselves into a mindset that you will continue as roommates for a few months until the house is sold.  You are together in the house in the physical sense - even though the emotional sense has changed. 

(2) Negotiate with each other the mortgage payments, utilities, and other household expenses, and address the duties for upkeep.  Doing this early on, will help alleviate problems from popping up in the midst of this living arrangement - which weren't addressed early on. 

(3) If there are children in the home, please put the children and their well being first, and paramount in your consideration.  Doing so, will help you focus on things more important than your own discomfort.  If the children suffer less distress, it will be easier for all of you.

With a little thought and consideration, you can be successful in selling your home, and making what could be a bad situation work well, and to your benefit.  

Good Luck to you!

 

 

Richard Weeks
Dallas, TX
REALTORĀ®, Broker

Great advice.  Look like there are going to be more and more situations where divorced couples will be forced to still live together.

Mar 25, 2009 02:47 AM
Holly Weatherwax
Associate Broker, Momentum Realty - Reston, VA
A Great Real Estate Experience

I agree with your thoughts. In an unfortunate situation, there are still ways to make the best of it. 

Mar 26, 2009 07:00 AM