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November
11
11
How to Sell a House During a Divorce
Navigating the stress and emotional pain of a divorce is a lot. Throw in the added stress of trying to sell your home, and you're bound to be in a bit over your head! Our REALTORS® have helped many families navigate this process and have compiled a list of helpful tips to streamline the process of selling a home during a divorce.
- Determine Timing of the Sale
A home can be sold before, during, or after a divorce. Each point has its pros and cons relating to property division, taxes, and other financial considerations. Consult your attorney to decide which is the optimum choice for your situation. - Work with a REALTOR®
Even if you've sold a home on your own before, you don't need the added stress. Our REALTORS® have the skills and experience to sell your home quickly and profitably. They're also a great source of valuable advice. - Prepare the Home for Sale
Those repairs and upgrades you planned to get around to "someday" won't wait any longer. Before adding your home to the list of Augusta homes for sale, make a list of the projects that need to be completed and talk to your spouse to decide if you'll hire someone or go the DIY route. - Hire a Stager
If neither spouse plans to remain in the house during the sale period, hire a stager to make sure the house is presented in the most attractive way possible. Even if one or the other spouse is still living in the house, staging services can help you optimize its appearance. - Agree on an Asking Price
This is another step where a REALTOR® can be invaluable with their knowledge of the current housing market. Keep in mind that the home is a joint asset, so both parties should feel comfortable with the decision. - Maintain Privacy
Your divorce is no one's business but your own. There's a practical reason for keeping the news from prospective buyers, who may believe you're eager for a quick sale. A reason such as, "We're downsizing" is honest without revealing too much detail. - Divide the Responsibilities
While all significant decisions should be arrived at jointly, both spouses don't need to be involved in everything. Decide who will take the lead on maintenance, showings, and other responsibilities. Ongoing mortgage payments and household costs will most likely be split down the middle, but it might make sense to come to different arrangements. - Share the Profits
State laws determine how division of property is handled in divorce cases. In community property states, with few exceptions, everything is split 50-50. If you live in a non-community property state, proceeds may be split based on factors such as which party made a greater financial contribution. This is where your attorney will negotiate in your best interests. - Keep Emotions in Check
Divorce and selling a home are both emotional events. When they occur simultaneously, it's easy to let emotions take over and steer you into bad decisions. Do your best to treat the home sale purely as a business transaction and make decisions as objectively as possible.
Whatever your reason for buying or selling, contact us at Sprague & Curtis for cheerful and professional assistance with your real estate needs.