Choosing what to do with the marital home is a difficult element of every divorce involving real estate. The issue is already emotionally heated due to the circumstances, but the house itself is nostalgic and valuable. While you may feel alone in an insurmountable circumstance, assistance is accessible.
The key is to work with a real estate professional who can help you sell your home as simply as possible. Keep reading to learn more and then contact Berkshire Hathaway HomeServices at (310) 373-0021 for help.
Choose an agent you both trust
Trying to sell your house during your divorce with an agent that doesn’t feel like an ally will leave you feeling lonely, alone, and backed into a corner. And if you employ someone you trust but your soon-to-be ex doesn’t, the whole thing turns into a never-ending war with no winners.
Remember that fighting over the sale of your house will cost you time and money
When it comes to asset division, the marital home is frequently one of the most valued assets. Whereas bank accounts and 401ks can actually be split in half, splitting a property is a lot more difficult. Controversy and debates regarding the appropriate course of action are almost unavoidable.
The following are some of the more common arguments: whether to sell the house and divide the money, or to keep the house and buy out the other, whether there are enough additional assets to satisfy the equity due to the individual moving out or if a cash-out refinance is required if one person is buying out the other, and if the house was bought before the marriage, how should the equity balance be calculated if it isn’t equal?
If you’re selling, you’ll need to decide which repairs and upgrades to do and who will pay for them. Choosing which offer to accept or which buyer concessions to make if you’re selling can be tough. Remember that when you and your spouse quarrel about the home sale, regardless of the reason, neither party gains in the long term.
When you get an offer, accept what the numbers are telling you.
A spouse who is desperate to get the divorce over with as soon as possible may do everything to sell the house, including accepting any lowball offer. However, just because an offer isn’t as big as you expected doesn’t imply it’s a poor one – and rejecting it might not be the best option. Rather than obsessing over why your ex wants to accept or reject an offer, you can do the math and let the statistics guide you.
Remember to remove your ex off the deed if you’re keeping the house.
While there are many emotional and financial reasons to sell your home after your divorce, it may make more sense in some situations to stay there and buy out your husband. If your solitary wage qualifies you for a mortgage and your spouse agrees to a suitable buyout sum, this can all be handled throughout the divorce process.
No matter if you plan to stay in the house, buy a new house, or move altogether, Berkshire Hathaway HomeServices can help. Call us now at (310) 373-0021.