YUMA, Arizona. If you’re getting divorced, there are two major aspects of any divorce that can lead to disagreements, acrimony, and trouble. One of these is understandably the question of child custody and the other involves the family home. Who gets the home? Should the home be sold? How will proceeds be divided? All of these are tough questions. If you are in the process of selling your family home during divorce, here are some things you need to know.
First of all, ask whether either of you can buy the house. Timing is everything when it comes to selling a home. If you’re timing your home sale to your divorce and not the market, you might not get the best possible deal. Selling a home while you are getting divorced adds a second stressor to an already very stressful process. Consider the alternatives before you sell.
Before putting your home on the market, you might want to ask yourself whether it is at all possible to see whether either spouse can buy out the other for the home. Some families may even choose to continue living in the home after divorce to save money and pay down the mortgage.
There are many ways divorcing couples can keep the family home, while maintaining both parties’ interest in the home, or by selling the home to one party. If you’re not sure how this would work, consider speaking to Schneider & Onofry, P.C., divorce attorneys in Yuma, Arizona. Our firm can review your circumstances and determine the best course forward.
While there are legal options available to keep the family home, many couples choose to sell. According to Real Estate Boston , 61 percent of divorces lead to the selling of a family home.
If you absolutely must sell your home during your divorce, Fox Business recommends that you and your ex look for a neutral realtor you both trust. Most real estate agents recommend that one person take charge of the selling process. Having one point of contact the real estate agent can turn to when questions arise can make the process easier for all involved.
It can also help to have a selling business plan in place. Your real estate agent can give you a realistic outlook about how much your home might bring in a sale. You and your ex can decide the lowest you’re willing to go and make other decisions about repairs and home maintenance before your home is put on the market. Selling a home can be stressful enough as it is, but when you add to this marital or divorce conflict, you have a recipe for trouble. Sometimes it can be helpful to have your divorce lawyer review your rights are when it comes to splitting the proceeds for the house. In some cases, you may be entitled to a 50-50 split, but this is not always the case. Knowing before you sell can help you make an informed decision and prevent problems going forward.
If you’re getting divorced in Yuma, Arizona, reach out to Schneider & Onofry, P.C., divorce lawyers, today. Our firm can help you understand your rights and options before you sell your home during your divorce.
Schneider & Onofry, P.C.
207 W. 2nd St. Yuma, AZ 85364