Divorcing? Need to Sell?
Sue Anfang
I help people in Toronto looking to downsize and find joy in their next forever home using my "Smooth Transitions" method
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:
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.
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??. ?????? ?????????????? ???????????? ?????????? – 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