Saturday, 25 February 2017

Selling a House During Divorce

selling a house during divorce

Selling a house during divorce and what to expect

One of the joys of my career is working with first time home buyers which often includes newlyweds. Finding them their first or second home is a very rewarding feeling. Recently I was contacted by a past client who advised me that he and his wife were getting a divorce and needed to sell their home. This is one of the unfortunate situations that can arise but is an unavoidable truth.

When neither spouse wants to stay in the house or they can't afford to buy the other spouse out then selling the house is the best solution. 

Choosing a REALTOR®

Choosing a Realtor® will be the first step. You may want to use the Realtor® you bought your house through. Make sure to pick a Realtor® who will be unbiased in the sale of your home and who won't choose sides. Listing your house at a fair market value will be beneficial and will help you get a quick sale at the best price. Make sure the agent does a comprehensive comparative market analysis (CMA) This entails selecting at least 3 recent sales and 3 active listings comparable to your house and preferably in your neighbourhood. This is the best way to come to establish a fair listing price in the current market.

Deciding on a fair asking price

After reviewing the CMA with your Realtor® and making adjustments for upgrades, location and other factors it is time to set the correct asking price. Statistics show that homes listed too high will sit on the market longer and end up selling for less. Hit the market at the right price to relieve any further stress and have a successful sale.

Prepare your house for the market

This is where choosing the right professional for the job is very important. Marketing your home right will get you the most money in the shortest amount of time. To help our clients get the most money we offer extensive marketing including professional photos, home staging, open houses, HD video tours, social media marketing and more. Make sure your agent is up to date on all the current marketing available for todays market.

The offer!

With your house priced right and professionally marketed, inevitably an offer will be received. Both of you will have to work together and come to a decision on the final selling price. Yield your Agents advice at this time in negotiating an acceptable offer.

The settling of money

Outstanding mortgages, liens and commissions will be deducted from the sale price on completion. One spouse may have been making mortgage payments during the post separation. This will have to be adjusted on closing to that spouse. This will be left to the lawyers and judge to decide.

Andrew Weaver is a sales representative for Coldwell Banker in Wasaga Beach. 

Direct- 705-331-2374


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Coldwell Banker Ronan Realty

Coldwell Banker Ronan Realty
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