When a marriage dissolves, full-boil emotions can overtake reason as couples untangle their finances, routines, and other details of their life together. As real estate agents who understand the complexities of selling a home during a divorce, we bring a compassion that’s just as vital to the process as is our business acumen.
While divorce rates have been trending downward for a decade, close to a million married couples still split each year. Those life transitions call for expertise that some consumers may not even realize they need from real estate practitioners.
It can be useful for divorcing sellers to consult with a real estate agent well before they’re ready to put the house on the market, even before the divorce itself is settled or goes to trial, says Chris Harbold, a divorce attorney with R. Chris Harbold and Associates.
“If the house is handled incorrectly during divorce, one or both spouses may be ineligible to qualify for a mortgage, and thus unable to refinance the marital joint mortgage or buy a house with new loan origination for years,” says Harbold.
One mistake divorcing couples can make is not examining and making needed adjustments to the homeowner’s insurance policy. Just because two people are married—and on the deed—doesn’t mean they’re both named as insured parties on the home. If one spouse is listed only as an insurance beneficiary and remains in the home, he or she will not be covered after the divorce is final.
A real estate professional experienced in the divorce niche can provide clients with step-by-step guidance to protect them-selves legally and financially.
We have been been working with divorcing spouses for over 13 years. We recently had a young lady contact us who tried to refinance after a divorce, only to learn there was a 10-year-old lien against the property. No one thinks to run a background title report on a house when their in the middle of a divorce, but a real estate agent specializing in selling homes during a divorcing can assist by providing guidance even if the goal is to keep the home..
Real Estate agents specializing in selling homes during a divorce understand that having patience with their clients’ predicament is important, and how traumatic can be to sell my house that you love and move into alternative often times smaller accommodations. Often times we are dealing with both sellers, are work to ensure we communicate with both equally and attempt to avoid holding meetings that exclude either party.
If you are going through a separation…a divorce….a life change… and need to decide what to do with your home? I completely understand… and am here to help. Do you need to get an idea what your home is worth and what you property value is? I am happy to compile and give you a free comparative market analysis (CMA) to help you see your homes value in today’s market. Many times the family home is the most valuable asset in a divorce, however, when dividing marital property, appraisal minus mortgages does NOT necessarily equal equity! This incomplete equation can leave your house over-valued and that can work against you. More real estate due diligence is needed much earlier in one’s divorce process.
The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington
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