Facing a divorce is emotional and comes with many difficult decisions. At the top of the list of priorities is thinking of the family, followed by what to do with the home you own together.
In some cases one or both spouses wants to keep the home. It’s fairly simple to remove someone’s name from a tile or to refinance and do the same. However, there are instances when neither party can afford to keep the home on their own and selling is their only option.
Here are some helpful tips in selling your home quickly, successfully, and without any additional stress.
1)One party should consider living in the home until closing. This will reduce expenses and help with staging the home; since it would more than likely be empty if both parties exit.
2)Find a realtor with experience and even more so one who has worked with divorce couples or that both of you can trust, feel comfortable with, and who will be impartial.
3) Agree on the list price, scheduling, and any other aspects of the sell that are important to you.
4) Keep emotions in check to ensure you focus on the mission at hand, selling your home.
5)Be on the same page with why you are selling. Talk through the approach with your realtor. Most buyers want to know why you are selling. Putting a positive spin on a tough situation is important to ensure buyers don’t assume you are desperate to sell.
6) Understand how capital gains taxes will impact you if you are selling an investment property.