As a Realtor of 25 years, my niche market is working with couples who are divorcing. Yes, it is challenging but extremely rewarding. Each transaction provides new information that I can share with my next client, and today we experienced a new challenge.
In this transaction both parties are on title, and their Final Divorce Agreement was written giving one party the ability to make all decisions regarding the sale of the house. This might be adequate if the parties were communicating and cooperating, which is not often the case. Ironically, this action of giving one party the sole decision making role is usually put in a Final Agreement when there is an apparent lack of cooperation, and to prevent one party creating road blocks to the sale.
Both parties agreed that I was to be the listing agent, the listing agreement was prepared and the professional stager was scheduled. One party flatly refused to sign, which quickly called a halt to the sale. With our market, time is really of the essence at this time of year and this delay could cost them a sale or bring a reduced price.
When the Final Agreement is signed designating a decision maker, a Power of Attorney or Quit Claim Deed is also needed to reinforce that right. In this case, attorneys will need to be reengaged to have these documents completed, creating more attorney fees.
Please pass this information along to your clients, or anyone you know, going through a divorce with a home to sell.
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