Selling a home during a divorce can create a host of emotional and financial stress. Who is going to stay at the house? Who is looking for another place to live? Are both names on mortgage? Is one partner going to buy you out? Can one income pay the mortgage and bills? There are a lot of things to consider. On top of all this, you have to work with the person you are not getting along with.
Financial Stress Due to a Divorce
Buying out your spouse’s share of the home is an option, but you will have to go through the pre-approval mortgage process again. With loss of income of the spouse, it can be a problem getting approved, plus you will have to pay a lump sum to your ex. And let’s be honest – divorce itself isn’t cheap. The average divorce in Florida costs $13,500. Add to that the rent for a place to live once both parties involved are no longer living in the house. Selling the property may be the only option. Both parties can benefit, and profit from the sale of the home can provide a solid start to a new life.
Things to Consider Before Listing
Everyone needs to be on the same page when it comes to selling the property. Figuring these things out before listing the property will reduce stress of the situation. Sit down and consider:
● What is the list price of the home going to be?
● What is the lowest offer both parties are willing to accept.
● What are the tax benefits to selling before the divorce is final compared to selling it after divorce?
● If there are any repairs needed on the property who is covering this cost?
● Touch up projects, fresh paint, deep cleaning, minor repairs hiring it out or doing it yourselves?
● How much involvement do you want in marketing the house, or showing the house?
Emotional Stress From Divorce
Divorce is listed as the second most stressful event in life. Emotions and tempers are all over the place. Feelings of sorrow, loss, anger, uncertainty, and fear can lead to tension, frustration, and arguments. There can be an emotional attachment to the house as well. Even if the current situation isn’t good, I bet there are fond memories tied up with the house.
If kids are involved, uprooting them from friends and changing school districts is emotionally draining for them. The stress of moving is daunting. And depending on how long you’ve called this place home, you may have accumulated a lot of stuff. All of these factors need to be taken into consideration upon sale of the home.
Improving the Value of Your Home Post Divorce
Getting the most value from your home after a divorce isn’t difficult. Chances are, you don’t want to do projects together. Hiring out these jobs is probably the best bet. Start outside – that’s what your potential buyer is going to see first. Have a well-kept yard and landscape, power wash the driveway, sidewalks, deck, and siding. Inside the home, get some fresh paint on the walls and have a deep cleaning done. If this house is occupied, clean up clutter and organize closets. A dirty, cluttered house isn’t attractive to a potential buyer. Get all the little projects that have been neglected over the years done. A clean, well-kept house and yard are inviting to clients.
Keep It Together- Contact Rebecca Silva Realtor
The combination of divorce and selling your home can be overwhelming. To reduce some of the stress of selling your home, find a licensed realtor who can help you get through this tough time. A good realtor is going to have communication with both parties involved. They’ll avoid picking sides in favor of getting you through the process of selling your home. Rebecca Silva can help you close this chapter of your life and get started on the next chapter. Fill the contact form below to get in touch with Rebecca for a free real estate consultation.