Divorcing? Need to Sell?
Top tips and things to avoid I've learned as a Realtor (and divorcee!)

Divorcing? Need to Sell?

Selling your home during a divorce can be one of the most challenging and emotional real estate transactions! P.S. Not only for you, but for your realtor too!!

Recently, I finalized a divorce sale on behalf of some clients. It was a long, long road to get to the end. see divorce sales make the same mistakes over and over; I’ve been there, too so I wish I had known then what I know now.? Here's a summary of my top tips; the full article including some personal experiences is on my blog at: Selling your home during a Divorce

Additionally I've done a 3 part video series that summarizes best practices: Video Playlist on Selling during a Divorce

Tips:

  • Be on Team Get 123 Main St. Sold”: Often each party has their own agenda. ? To avoid favoritism and be focused be on this team. ??
  • Set Clear Goals Together: Meet with your realtor as a team to establish a listing price and strategy that align with both parties' interests.
  • Agree on Pricing Strategies: If there's disagreement on the listing price, consider a schedule for price reductions over time to ensure realistic expectations.
  • Establish Communication Guidelines: Decide on a fair communication plan where both parties are kept equally informed throughout the process.
  • Prepare for Closing: Plan ahead for clearing the house for closing, including arrangements for items left behind to avoid last-minute stress.
  • Communication is Key: Maintain open and clear communication with your ex-partner, realtor and legal representatives throughout the process. Understand that timeliness is of the essence in a real estate transaction
  • Be Realistic About Your Timeline: Understand that selling a home in this context may take longer than a standard transaction due to legal requirements and emotional factors.
  • Consult with Legal Experts: Seek advice from experienced family law professionals to ensure you understand your rights and obligations.
  • Put it in writing: Incorporate Legal Directions in the listing agreement - consider adding expectations and outcomes in the listing agreement to avoid misinterpretations. ?For example a schedule for list price, price reductions and terms and conditions acceptable by both parties?
  • Honour your commitments: I’ve found it common is that one party will say yes to everything to appear agreeable – but then not honor the agreements, even if they are in writing

Here are the 6 ???????? ???????????? ???????????????? I believe most people make:

??. ?????????????????????? ???????? ?????? ?????? - family law sets out the division of assets. While you might disagree with it or feel it’s unfair (many people do) it’s going to cost you more money in the long run to fight what you can’t change.

??. ?????? ?????????????? ???????????? ?????????? – or setting them and not honoring them. My experience with a divorce sale is that both sides usually have different goals. It’s usually around how much money they are ‘owed’ and how quickly they want the money ‘now’. Work with your realtor to set out the ground rules & ?????? ???????? ???? ?????????????? in your listing contract. Around this, the other thing I’ve found common is that one party will say yes to everything to appear agreeable – but then not honor the agreements to try and control the narrative.

3. ?????? ?????????? ???? “???????? ?????? ???? ?????????? ????????”. I find a lot of people in a divorce are on a team. Common teams are “Screw the other side Over”, “I want this sold Tomorrow” or “I don’t care what the law says. It’s all Mine Mine Mine” ???????????? ?????? ?????????? ???????? - “Team Get My House Sold” and play to win.

4. Letting emotions dictate decisions: it's easy to get emotional and stressed. And it's normal to feel you're on the 'short end of the stick' during a divorce. But don't let your emotions get the best of you. The best advice I have read recently is called "going to the balcony" - ie viewing the situation at arms length to help manage emotions.

5. Hiding financial information: This could get you in real trouble. And impact future goals, especially if you need your true income to purchase a new property

6. Ignoring the importance of a separation agreement for financial security.? Without this in place, your sale settlement may get held up for a long time in trust. The lawyers charge monthly to hold trust monies. So make sure you have an agreement, or at least an agreed upon direction in place for closing.

Video Series

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