Considerations in selling the family home during your divorce

On Behalf of | Mar 15, 2019 | Divorce

Like many other Florida couples, you came to the painful realization that your marriage has reached it end. As you move toward divorce, you face numerous changes in your life. Some of those changes will be difficult and could leave you with tumultuous emotions.

Then, as you begin the divorce process, you and your future former spouse realize that selling the family home is the only way to handle this large asset. Neither of you can afford to handle the mortgage payments, taxes and repairs. Moreover, neither of you wants the constant reminder of what used to be. So, how do you proceed?

Things to consider when tackling this task

In order to increase the chances of a quick sale, consider the following:

  • You are combining two significant events in your life — divorce and the sale of your home. This will have an impact on you.
  • You could hire someone to handle the selling process in order to gain some distance and move toward your future.
  • Once you make the choice to sell your home, it could provide you a sense of relief that you need to tackle other issues.
  • Make sure the home is ready to show to potential buyers. First impressions are crucial in the real estate market.
  • The decision to put your home on the market will surely take less time than completing the process.
  • If you are on the fence about selling your home, discuss it with an attorney. You can explore all of the available options and feel secure in your decision to sell.

You need to feel comfortable with your decision. Even if the conclusion is that you have no choice, at least you have a definitive decision and resolution to this portion of the property division process. You will also have to decide whether to wait to file the divorce until the transaction closes. In either case, you and the other party need to view this process as a business transaction. This will help you get through it.

Find an agent you both approve of before moving forward, and keep making the mortgage payments. Even under the best circumstances, divorce will affect your credit. Don’t make it worse by stopping payments. One of you could remain in the home while it is on the market if you don’t think both of you remaining in the home will work.