Divorce and Real Estate Issues
Disclaimer: Divorce by its nature is a legal issue. No information given here is to be considered legal advice. It is a sound principle to get legal counsel for all issue to do with a divorce including real estate issues.?Divorce law is complex and different from state to state.
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Divorces are seldom easy. Disputes over major assets like real estate are common. Divorce not only terminates the legal partnership between two spouses, but can also require that the property previously shared by the couple be divided. What happens to real estate in a divorce? There are endless ways couples resolve this issue. But they can be broken into two basic choices. They can keep the property or sell it.
Keeping the property creates issue of ownership, title concerns, liabilities issues both financial and legal, financial concerns like refinancing the loan, qualifying for a new loan, supporting two housing situations, maintenance issues and many more issues.
One big issue if the home is to be retained by one spouse is value. Negotiating a divorce property settlement depends on a fair, impartial and accurate assessment of the value of the property to be divided. The professional real estate appraiser is the best choice to state a value. Which real estate value to choose can add or subtract thousands of dollars of value. The market value in “as is” condition is a different value than the income approach to value. Just be on the same page as which value to use.
Because of all the complications of keeping the property, many divorcing couples liquidate the real estate assets. Selling the property removes the debt and other liabilities from the situation. The sale most times adds money to the couple’s assets to be divided which is a number. The emotions of a number are much less than a home. Thereby selling the property can lower the stress in a divorce.
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concerns of a real estate transaction are already complicated, but it can get exponentially harder in a divorce. If more information is needed on selling real estate by owner follow this link to a helpful resource.
Home selling strategy changes by property type, price, location, market conditions, marketing positioning and many other issues. Coffee Real Estate uses many marketing tools to sell real estate. Some tools are professional and have a high cost to create. Others are ideas which can change the way real estate is marketed. For a free report on one of ideas that will increase your property selling price and sell quicker:
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