Selling Your Home During Your Divorce? What You Need to Know
YUMA,
Arizona. If you’re getting divorced, there are two major aspects of any divorce
that can lead to disagreements, acrimony, and trouble. One of these is
understandably the question of child custody and the other involves the family
home. Who gets the home? Should the home be sold? How will proceeds be divided?
All of these are tough questions. If you are in the process of selling your
family home during divorce, here are some things you need to know.
First of
all, ask whether either of you can buy the house. Timing is everything when it
comes to selling a home. If you’re timing your home sale to your divorce and
not the market, you might not get the best possible deal. Selling a home while
you are getting divorced adds a second stressor to an already very stressful
process. Consider the alternatives before you sell.
Before
putting your home on the market, you might want to ask yourself whether it is
at all possible to see whether either spouse can buy out the other for the
home. Some families may even choose to continue living in the home after
divorce to save money and pay down the mortgage.
There are
many ways divorcing couples can keep the family home, while maintaining both
parties’ interest in the home, or by selling the home to one party. If you’re
not sure how this would work, consider speaking to Schneider
& Onofry, P.C., divorce attorneys in Yuma, Arizona. Our firm can review your circumstances
and determine the best course forward.
While
there are legal options available to keep the family home, many couples choose
to sell. According to Real Estate Boston
, 61 percent of divorces lead to
the selling of a family home.
If you
absolutely must sell your home during your divorce, Fox Business
recommends that you and your ex
look for a neutral realtor you both trust. Most real estate agents recommend
that one person take charge of the selling process. Having one point of contact
the real estate agent can turn to when questions arise can make the process
easier for all involved.
It can
also help to have a selling business plan in place. Your real estate agent can
give you a realistic outlook about how much your home might bring in a sale.
You and your ex can decide the lowest you’re willing to go and make other
decisions about repairs and home maintenance before your home is put on the
market. Selling a home can be stressful enough as it is, but when you add to
this marital or divorce conflict, you have a recipe for trouble. Sometimes it
can be helpful to have your divorce lawyer review your rights are when it comes
to splitting the proceeds for the house. In some cases, you may be entitled to
a 50-50 split, but this is not always the case. Knowing before you sell can
help you make an informed decision and prevent problems going forward.
If you’re
getting divorced in Yuma, Arizona, reach out to
Schneider & Onofry, P.C.,
divorce lawyers, today. Our firm can help you understand your rights and
options before you sell your home during your divorce.
Schneider
& Onofry, P.C.
207 W. 2nd St.
Yuma, AZ 85364
928-257-4887
