Selling a home during a divorce can be a challenging and emotionally charged process. It is important to approach the sale with a clear head and a plan in place to ensure that the process goes as smoothly as possible.
In this article, we'll talk about the following
Important Points for Selling Your Home During a Divorce
Selling Together when You're Not Together
Buying Out Your Spouse
Preparing Your Home to Sell
Marketing Your Home
Dividing the Proceeds
One of the first things to consider is whether or not you want to sell the home together or if one party will buy out the other. If you decide to sell the home together, it is important to work with a real estate agent who is experienced in handling sales during a divorce. As just such an agent, I help my divorcing clients navigate any potential issues that may arise and ensure that both parties are on the same page throughout the process....most often with little to no interaction between you and your soon-to-be ex-spouse.
If one party wants to buy out the other, it is important to determine the fair market value of the home. This can be done through a professional appraisal1 or by working with an experienced real estate agent (me) to compare the home to similar properties in the area. The party who is buying out the other should be prepared to pay a fair price for the home, which may involve taking out a mortgage or using other financial resources.
Once the value of the home has been determined, the next step is to begin preparing the home for sale. This may involve making necessary repairs and updates, as well as staging the home to make it more attractive to potential buyers. It is important to be realistic about the condition of the home and to prioritize any necessary repairs that will help to increase its value.
Marketing the home is another important aspect of the selling process. As an agent who places a tremendous amount of emphasis on marketing and social selling, I can help to create an appealing listing and promote the home through various channels, such as social ads, virtual tours, and video. It is important to be open to negotiating with potential buyers, as this can help to get the best price for the home.
Dividing the proceeds from the sale of the home can also be a complex process. It is important to have a clear understanding of how the proceeds will be split and to consider any debts or liabilities that may need to be paid off. A financial planner or attorney can help to navigate this process and ensure that both parties are treated fairly.
Ultimately, the key to selling a home during a divorce is to approach the process with a clear head and a plan in place. Working with a real estate agent, financial planner, and attorney who acts as a team can help to ensure that the process goes smoothly and that both parties are treated fairly. With careful planning and communication, it is possible to sell a home during a divorce and move on to the next chapter of your life.
I'm here to help you with this trying season of your life. If you are looking for an experienced, caring agent who understands what you're going through and make the process as seamless as possible, reach out to me. I'm at your service.
I hope you found this to be a useful list of tools to have on hand. If you have questions or you would like to talk about listing your home, buying your first home, or even an additional home, just reach out to me, and let's chat about it!
Rexanne Collins, Market Realty
Oxford MS Real Estate Agent - Serving Oxford and surrounding towns and communities.
Call or Text: 662-586-1640 Main Off: 662-234-9900 Email: RexanneSellsHomes@gmail.com
"Because the right agent changes everything."
*Rexanne Collins is your BEST source for Oxford MS real estate or for real estate in the surrounding communities and towns. Looking for homes for sale in the Oxford, Bruce, Water Valley, or Calhoun City area? Professional REALTOR Rexanne Collins is your local real estate expert. Whether you are looking to buy or sell, Rexanne is the REALTOR for you. Go ahead and ask her why!