Selling Your Home During Divorce: Part 1
Typically, one of the largest assets of a couple is their real property and the marital home. One of the biggest questions is whether one of the parties will keep the home and refinance and/or buy-out the other party or if the home needs to be sold and how to go about selling a home in the context of a divorce.
SELLING YOUR HOME DURING DIVORCE: START SOONER RATHER THAN LATER
Early in the divorce process you should provide your attorney with a current mortgage statement and obtain a Comparative Market Analysis from a local Realtor® so you can determine the approximate market value of your home. Many Realtor’s provide this service at no cost to you, and will offer you tips on what you can do to help increase your home’s marketability. Your attorney can help you decide if selling the marital home is the right decision for you and how to best protect the asset during the divorce process.
THE BEST TIME OF YEAR TO SELL
Many people believe that the best time to put their home on the market for sale is in the spring. It is true that many people begin their home search in the spring with the goal of moving over the summer when their children are out of school. The down side to waiting until spring is that there are also many more homes put on the market during this season so there is more competition and you may have to price your home a bit more competitively to stand out from the rest. Buyers looking in the colder months have less choices in homes to purchase so they can be less critical than they would be if they had their choice of several comparable homes. The most important thing is to choose a Realtor® that has a marketing plan to get your home as much exposure to the buyers in the marketplace at whatever time of year you decide to list your home for sale.
Ann Bennett has over 10 years experience as a practicing attorney specializing in the areas of family law, probate and real estate. She brings her experience and expertise to benefit her clients in selling or purchasing a new home. She is client focused, detail oriented and work to get the best results to meet her client’s needs. With her history in the legal field, she is also uniquely qualified in handling the special needs of attorneys, divorced or divorcing parties or the executors and heirs through the probate process.