Getting a divorce is never easy and selling a home is generally a stressful event for most people. Combine them both and it can be a downright overwhelming process.
When couples marry, they anticipate happily ever after and forever. They have children, buy homes and other large ticket items. A home becomes the safe place for many and often is considered the foundation that gives them an incredible sense of safety and comfort.
The upset of needing to sell a home as a result of a divorce only adds to the discomfort the couple faces with future plans. Even when amicable, differences between spouses seem heightened and emotional during the transaction.
Some couples choose to work with an attorney or mediator to help navigate the process. Others try to dissolve assets between themselves, sometimes successfully other times not so well. Some divorces are easy, others more complicated. It all depends on what is involved and the overall disposition and attitude of the parties. Regardless of how a couple chooses to navigate their separation, if the decision is to sell their home or other investment properties (either willingly or as a condition through the divorce agreement) this is where we can assist.
When it comes time to get the home on the market, choosing a broker to work with is incredibly important. A broker who has experience working with divorcing couples is critical. In fact, 25% of our annual business is facilitating the sale for divorcees.
Don’t Rush:
When people are in an emotional state they may make decisions, they may regret later. You both must be at a place to commit to the process of selling before action takes place.
- Speak with a lawyer of mediator
- Consult your financial planner
- If you use an accountant or tax professional, speak with them. If you do not, it may be a time to consider speaking with or hiring with one. There may be tax implications and you will want to understand them ahead of time.
- Make sure all decisions are made appropriately and timely. Once you start the process, some things are difficult to undo if at all.
Before agreeing to list:
We will provide a comparative market analysis for your home to help determine fair market value based on recent sales, market conditions, available inventory and the overall condition of your home. Although not required, we find it prudent for couples to spend money on an independent appraisal. An independent 3rd party will provide you a subjective value for your home which introduces another layer of neutrality to the process.
- After partnering with your broker, what is the agreed upon pricing for the home? What is the lowest you would accept?
- Will both parties be staying in the home, who will leave, who will stay?
- Will the home be accessible with ease for showing requests? What if one party is refusing showings to hinder the process?
- Agree upon who will cover the cost of repairs or other related expenses you may have during the listing. Who will handle pre-listing maintenance suggestions (painting, cleaning, etc)
- Will the spouse who has moved out be OK with not knowing about every single viewing appointment, or is it important that both be in the loop for every detail?
- What are each spouse’s specific responsibilities in terms of the home sale?
- What real estate agent will you use, and do you both agree?
- How much notice does each spouse need for a closing date?
- What times are off-limits for appointments, and will the spouse living in the house be expected to accommodate last-minute showing requests?
What to look for in a broker:
- The broker should have strong experience working with separating couples
- Possess the ability to remain neutral between both spouses without taking sides
- Communicate effectively with one or more attorneys who are involved in the process
- The broker should set a clear expectation to all parties about how the process will work, what communication will look like and how issues will be resolved
- The broker should be compassionate, yet firm
- Both parties should feel they have a voice and are being equally advocated for
- Confidentiality – protected with the highest regard.
Your broker must be able to deal with the possibility of emotionally charged conversations while being diplomatic. Hiring a broker during a divorce extends beyond their technical skills.
Our expectations:
We have had years of experience dealing with separating couples. We understand our role in their process and their marriage. We recognize that both parties will require a bit more hand holding than usual, and the communication is always
doubled – especially if the parties are not communicating well. Although not always ideal, we have the ability to separate where one of us will be the primary advocate for one spouse and the other for the other spouse. We communicate well and it becomes a unified process with less upset between the couple. Each party in the transaction feels they are being heard while increasing the likelihood of emotional neutrality.
- We expect the divorcing couple to treat the sale of their home like a business.
- We will be firm with both parties that we will not tolerate personal “side” stories about the other spouse. We work hard to ensure we remain neutral. By listening to stories about the other spouse etc., or using us to release anger or frustration about the other spouse is not something we will entertain. Often times we will remind you of our roles, and what does and does not serve the process at hand. Although sometimes we will have to be firm, have confidence it will not be heard from either side.
- Cooperation is a non-negotiable. If you have chosen to sell we expect all parties to be on board and cooperate with all aspects of selling. Signing documents in a timely manner, making home presentable before showings, accommodating showings and staying present. It will take a collective team effort.
- Communicate! It is important that we all communicate during the process. You may not be communicating with your spouse well, but have confidence we are.
You will need to be transparent with us about everything as it relates to the home sale.
Have confidence that we will be able to handle the sale of your home or investment property during this difficult time. We have the technical skillset to navigate any real estate transaction, the emotional capacity to handle the needs of separating couples and experience working with your attorneys. We have handled many divorces, both easy and difficult. We help all people including the LGBTQ community involving same-sex divorces.
Let us know how we can help navigate the process for you regardless of where you are in the process. We uphold a confidential promise to everyone we work with. We are here to help!
