Real Estate and Divorce

When a couple decides to separate or divorce one of the things they will probably have to deal with is what to do with the house. Should they sell? Can one spouse buy the other out? Will the spouse who moves out allow the remaining spouse to stay and delay selling until the children are finished school? Having gone through this myself, I know first-hand that this is not an easy decision.

Making The Decision To Sell  

If the decision is to sell, try to work through the process together. Interview prospective agents together.  Hire someone you are both comfortable with.  You want to work with someone who will be impartial while trying to do what is best for both of you – selling your house quickly at the highest price possible.  Pricing a property well or “correctly” is always very important, but even more so when the sale is because of a marriage breakdown.  Whether the split is amicable or not, you will probably be eager for closure and ready to move on to start your new life.  Waiting for weeks or even months for your home to sell could be unbearable. Hire an agent who knows your neighbourhood well and who will price your home to sell in a reasonable amount of time.

If the split is acrimonious and being in a room together is out of the question, try to hire one real estate brokerage to sell your home.  It is possible to hire two, but that usually screams that the house is being sold because of a marital split and that it’s acrimonious.  You don’t want to give prospective buyers the impression that you’re desperate to sell as it will probably be reflected in the offer price.

Listing Your House 

Once the house is listed for sale, if one spouse has already moved out, try to make it appear as though you are both still living there.  Take only the clothes and shoes you need for that season, for example, so that the closets have both sets of clothes in them.  If you have family portraits on the walls keep them there (and don’t deface them in any way :-). Again, you don’t want to make it obvious why you’re selling. 

Your House Sold 

Finally, don’t assume that once your house is sold and the deal closes you will receive the money right away. This is not information your real estate agent will be privy to.  Ask your lawyers about this so there aren’t any surprises.  Find out whether you will get the money the day of closing or not. There is the possibility that it could be several weeks or even months before you see any of that money.

Selling a house because you have to can be very emotional and stressful, but take heart. Sometimes the grass is greener on the other side!

Contact Me Now

When you’re ready to buy or sell in the Burlington or Oakville area, or for general real estate advice, please contact me.  I can help!