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Real Estate Options During

Divorce

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Real Estate & Divorce

If you’ve landed up on this page you are either considering a divorce or are in the process of one and you want to know what to do with the house. The benefit of listing your home due to divorce is that both spouses usually get some money to help start over and give you both a clean break.  Real estate and divorce are tough.  I’m here to help.

If you are listing your home due to divorce there are several things to consider.

Real Estate & DivorceChoosing a REALTOR®

As I mentioned, real estate and divorce is tough.  Divorce is usually a very draining, emotional process. Adding the sale of your home is another huge stress that you don’t need to take on during this time, so it is wise to choose an agent who can help you. Referrals from your friends who have had a good experience with a REALTOR® is another option or simply fill out the form on the right and I’ll be in touch.  I firmly believe in a no pressure approach.  I am a resource to you no matter if you are buying or selling any time soon.

Asking Price

This is where it’s best to let your REALTOR® go to work for you, avoiding any conflict between you and your spouse on an asking price. Using market analysis reports, neighborhood comparisons, and recently sold home pricing, I will be able to share with you what I know is top value for your home. Going off generic internet generated reports are often misleading and can lead to false expectations.

Preparing Your Home to Sell

This may be the most difficult part of the sales process but don’t get discouraged. One step at a time and your home will be in tip-top shape and ready to be shown. It is best to declutter as much as possible, removing any knick-knacks on shelves, photos off the wall, and extra furniture. This can be a very emotional time, especially during a divorce. It may be best to get professionals to come in and stage the home for you. Minor repairs and some painting often needs to be done as well. You and your spouse will need to agree on who will be paying for what expense and how they’ll be compensated in the end.

Reviewing Offers

I will present any offer to both parties and ultimately, you’ll have to decide together on whether you accept or decline the offer. It is important to come together to discuss the offer as quickly as possible, especially in a market where homes are selling quickly. So, decide ahead of time the best way to communicate during this process.

Sale Proceeds

Don’t be fooled to think that you can just sell your home and split the sale price between both parties. Before the proceeds can be divided, your existing mortgage will need to be paid off, any equity line or second on the home will need to be paid, along with the broker’s fees and any capital gains tax that may apply. Once these expenses have been paid, you can then decide on how to divide the remaining balance.

Dividing the Home

Dividing the Cash

The escrow company can distribute the money to any obligations on the house or other payments you’ve agreed to, such as, to pay off marital debts. They will then also distribute the remaining balance to both parties. Keep in mind that if one party has been solely making the mortgage payment for the past year during the separation period, they should be compensated for the principal amount paid toward the loan, which may increase the amount divided between spouses.

Legacy Real Estate Co.

Legacy Real Estate Co.

208.917.8339

LREC@idaholegacy.com

www.IdahoLegacy.com

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Service Area

Boise, Idaho – As the fastest growing metropolitan area in the country, the Treasure Valley is simply exploding in growth.  While much of this growth has primarily affected Boise, Meridian, and Nampa, the growth finds itself even spilling into communities such as Middleton, Kuna, and Caldwell. Bottom line, now is an amazing time to consider listing your home – especially true if you’re looking to move a little further from the dominant growth communities.

Legacy Real Estate Co. with Keller Williams Realty Boise

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Your Local Real Estate Expert

Legacy Real Estate Co.

Legacy Real Estate Co.

Legacy Real Estate Co.

208.917.8339

LREC@idaholegacy.com

www.IdahoLegacy.com

At the heart of our business is the impact of Idaho real estate over lifetimes. From seller to buyer, to the families that live inside these homes, Legacy Real Estate Co. is in the business of sharing your story, sharing your legacy. Founded on the principles of Family, Community, and Humanity, Legacy Real Estate Co. is committed to helping current and future clients design the life they want to live – in the community they want to enrich – one dream home at a time. Committed to the impact and desire to give back, Legacy Real Estate Co. also contributes their time and resources to greater humanitarian efforts.

Whether starting a legacy with First-Time Home Buyers or working alongside Sellers in continuing their legacy, Owner & Realtor® Jenn Weiss brings years of experience from over 100 home transactions. She is passionate and committed to providing an avenue for professional agents to thrive at their very best while creating their own legacy. In unity and as your trusted real estate resource, Legacy Real Estate Co. dedicates to serve all clients in the very best way possible. We’re ready to serve YOU and the Boise metropolitan area!