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4 Tips on Selling Your House During a Divorce
Dated: January 27 2022
Views: 91
4 Tips on Selling Your House During a Divorce
While it’s sometimes unavoidable, divorce can be a devastating and stressful burden for any family to bear. Add to that the splitting of assets and your life might feel like it’s upside down. Luckily, there’s an option when it comes to a jointly-owned marital home: selling the house and splitting the proceeds. Here are 4 tips for selling your house during a divorce:
Hire a Real Estate Agent
You should consider an agent that you and your soon-to-be-ex-spouse trust. They can help you stage your home, get it listed in real estate sites and publications, and offer you a valuation. Keep in mind that you both need to agree on a fair value for the house, and a realtor could eliminate that potential conflict.
Prepare the House for Sale
First, create a list of repairs required to address and determine the costs associated with each fix. You should consult your realtor on which repairs and upgrades are necessary. It’s often simpler to sell the home as-is during a divorce. But should you decide to make repairs, agree on how it will be paid for.
List the House and Review the Offers
After listing the house, you’ll probably receive multiple offers from potential buyers. You should work together to review these offers, especially if you live in a neighborhood where the real estate market is volatile. Of course, your realtor can advise you, but ultimately, you’ll need to decide jointly.
Split the Proceeds from the House Sale
Finally, you should determine how to divide the proceeds equitably. Keep in mind that selling a home can be costly with home upgrades, staging, commissions, and fees. Hence, you should ensure that both parties have settled all these expenses before splitting the profits. Some common payments to settle include:
Mortgage
Equity lines of credit
Liens for unpaid property taxes
Agent fees and closing costs
Joe Militello can help you.
At Joseph Militello Realty, we understand that selling a home during a divorce is never that simple. As such, our experts strive to treat every scenario differently, and will offer advice that relates to your specific case. Call us at 248-955-2802 today; we can help!
Joe Militello
Joe, a lifelong Michigan resident, brings over three decades of expertise to his full-time career in real estate. As a seasoned realtor, he has earned a reputation for his proactive, tech-savvy approa....
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