March 9, 2018 | Good to Know

Selling your home after a divorce can have its inherent challenges. Obviously, this is not the case with all divorces but at the very least there may have been memories and future plans with an emotional investment in and around your home. Letting go of the home can be quite liberating as you set out to begin a new chapter of life.

Some divorces are amicable, some sudden and unexpected and others where the former couple are no longer on speaking terms. This can be a challenging experience for this divorced couple.

Selling Your Home After A Divorce

Buy The Other Out?

Perhaps buying the former spouse is a relevant solution if the purchasing party would like to retain the home and has the necessary funds to take on the additional responsibility on their own. Perhaps a legal transfer of the matrimonial home is best.

Spousal Consent

If one spouse is not on the title of the former matrimonial home it is essential that the spousal consent form is signed on the agreement of purchase and sale. This signature documents the necessary consent of the other party with a legal right to the property.

Professional Real Estate Guidance

It’s essential that a professional realtor is chosen based on real estate market understanding, listing strategy and of the utmost importance is the ability to equally represent both the former husband and wife. To see the big picture and goals of the two then to navigate the process delicately. It is essential that both people feel heard (this is always true but all the more so in a potentially challenging situation).

The primary job of the realtor during the sale of a divorced couple’s home or condo is that the sale goes smoothly, the most money is given for the sale and that both people feel heard and understood at every step of the way while being handled in a professional manner.

Now What?

What do I do now? Rent? Buy? Buy if you can. If you know that you are ready to settle into a new life and if you have the financial means.  At the very least rent and work towards buying whatever you can purchase in the future. It’s best to stay in the market, don’t lose ground. Selling and buying in the came market is an excellent move. Even if the market is flat at least you aren’t paying your landlord’s mortgage payments! You are paying down your mortgage and creating more equity in the property.

If you are selling your home after a divorce I can help. Get in touch with me today and see how I can help with your real estate goals.

Leave a Reply

Your email address will not be published. Required fields are marked *