Selling Your Home After Divorce?

By
Real Estate Agent with RE/MAX Bryan College Station

 

There seems to come a point in almost every marriage where things just are not working out any more. As tragic as it may be, one out of every 2 marriages have ended in divorce. In today’s age of quick marriage and “easy do-it-yourself divorce” it is not as big of a deal as it once was to say, “I do” and then decide that you don’t… In some cases, things can get rather messy.

It is at times in the best interest of both parties to enlist the aid of an experienced attorney to better carry out the particulars of dividing property and assets, but sometimes this is not necessary. There have been cases, although rare, where the individual parties can sit and discuss the property and asset division and come to some sort of mutual agreement as to who gets what, but most of the time this is not the case.

As emotions are high and things can easily turn volatile, dividing property without a third party present can be a tricky and even undesirable process. However, in the event that the two parties can agree to come together and rationally discuss the property division without incident, sometimes selling the home and dividing the proceeds is the best method of being fair. It is often a difficult procedure to decide who will get the house, especially if the couple has shared life experiences as well as mutual friends in the surrounding area. For one party to get the house would be to force the other party to start over in a sense. In order to maintain equality and to minimize the squabbling over yet another item, selling the home and splitting the case is a very attractive proposition.

Although the relationship may have failed, the selling of your home is something that should involve both parties. It is petty to focus on whose name is on the mortgage note, if in fact only one person’s name is present on the note. Both parties have a claim to the home if only for emotional ties. This is something that should be approached with a sense of unity over a business transaction. If no other agreement in this situation can be reached, it must be looked at as simply a business transaction. The guidelines for advertising and for carrying out the sale of the home should still be followed to the tee. The selling price of the home should not be dictated by the amount of cash that is desired to be split by the dissenting parties, but rather the profit from the sale itself should be split equally and without incident.

A divorce can be a terrible and life-altering process. The complexity of closing a real estate deal in the midst of or as a result of the divorce can be downright overwhelming. However, with a little tact and dignity, the desired result can be accomplished. If all parties remain cool and collected, and the transaction is handled respectfully, it can turn out to be a mutually beneficial process.

For more tips on selling your home or if you need a realtor in Bryan College Station, please contact me.

Posted by

Lisa Jones has answers for all of your Bryan College Station Real Estate needs.  Whether you're buying or selling, call Lisa TODAY!  979-255-7010  Find all my listings on my website.

 


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Comments (1)

Laura Murray
Weichert - Silver Spring, MD
Search Montgomery Co., MD for homes www.MDRealEstateOnline.com

Yesterday, i was talking to an agent who had a closing scheduled in the AM.  The husband did NOT show up for the closing.   It was a divorce situation.  I am interested in seeing how this turns out.

Jul 13, 2012 01:48 AM