Tips for Selling a Home While Going Through a Divorce
The decision of whether or not to sell your house during the divorce process can be quite difficult. Having to pack up and move while so many other changes are occurring in your life can be a truly overwhelming prospect. However, there are many circumstances in which it does not make financial sense for either party to hold on to the house after getting a divorce.
Here are some tips for you to keep in mind as you sell a home while going through a divorce.
- Don’t let emotions factor into your decision: This is easier said than done. After all, our homes become sort of a part of us. You’ll need to make the decision from a logical point of view. If you cannot afford the property and cannot refinance it, then you’ll need to sell it if you are to prevent yourself from going into financial ruin. This can be an especially difficult decision if you have kids, as the last thing you want is to introduce even more inconsistency into their lives, but it’s ultimately the best decision for everyone involved if it’s not financially feasible for you to hold on to it.
- Work with professionals: It’s generally recommended that you don’t try to do For Sale By Owner even in standard circumstances, but especially during a divorce you’re going to want to make sure you have real estate professionals handling the sale for you.
- Copy all documents: Make sure you have copies of all key documents related to the house and its sale, including bank statements, tax returns, loan documents, home warranties, old receipts or manuals, insurance paperwork and anything else you think would be important to have.
- Negotiate: Make sure the sale of the house is a key topic of conversation during divorce negotiations. You’ll need to determine responsibilities for the sale, the split of the proceeds and any other issues that are a part of the sale.
For more information about selling a home while divorcing, contact an experienced Long Island divorce lawyer at Bryan L. Salamone & Associates.