When you say “I do,” you aren’t expecting the day to come when you say “I don’t.” But in the aftermath of a split, the home you purchased together may be the last thing you want sticking around.
In a divorce, if neither spouse wants to remain in the home, or if neither can afford to buy the other out, selling is a way to possibly offset your financial losses. After closing, the escrow company will take the sale proceeds, pay off any remaining obligations, and distribute the money to both parties.
Selling a home during or after divorce proceedings essentially follows the same process as any other sale. However, there are some nuances to selling with an ex-spouse you should be aware of before the “For Sale” sign goes up.
For example, you probably didn’t plan your divorce around the busy real estate season, so there’s a chance you’ll be listing a home in a slower market. Be prepared to compromise on price and other negotiating points.
While we recommend using a real estate agent in any real estate transactions, entrusting your home sale to an agent during a divorce is especially important. Realtors are unbiased, take no sides, and are solely focused on selling your home at the best value for you and your ex-spouse. Rely on a trained professional to help you navigate the selling process with as little conflict as possible.
Divorces can be hard, but making the decision to sell your home in the aftermath doesn’t have to be. Contact Krueger Real Estate today for the professionalism and expertise your sale deserves.