6 Tips for Selling a House After Divorce
Getting a divorce is never easy, no matter what the reason is. Unfortunately, the emotionally difficult part is not the only thing you need to navigate through. The family home is one of the assets that cause the most problems in the divorce proceedings and the division of assets. It often happens that neither person wants to continue living in it, so the house ends up for sale. Selling a house after divorce can be really stressful, so we've put together some tips to help you out.
The specifics of the sale really depend on your situation. First of all, you need to consider the ownership of your home. Are you the sole owner, or is the house shared between you and your ex-spouse? In the case of co-ownership, would you rather buy out your ex's half and then sell the house, or just sell it straight away and split the money? Also, is there a mortgage that needs to be paid off? You should consider all these factors before putting your home on the market.
1. Keep a cool head
It's completely normal for your feelings to get ahead of you during the divorce. Selling a house you lived in while married can be emotionally draining as it's a place full of memories. Allowing yourself to feel all the negative things is a necessary part of the healing process. However, you should make an effort to keep a cool head when it comes to the sales process. Try your best to leave the sadness and the anger out of it. Doing this can help you think more clearly and avoid making bad decisions during the process. Also, you'll be able to establish better communication with your realtor, which can result in a better deal.
2. Hire professionals to help you out
Divorce can make you feel lonely. However, the truth is that there's a whole team of people there to help you navigate through it. First of all, establish good communication with your lawyer. They're the person that has your best interests in mind, so you can be open with them. Hiring a professional realtor can help take the added stress of selling your home yourself off of your shoulders during this trying time. Once you sell your home, you'll need to relocate somewhere. This can be pretty challenging, and specialists at Verified Movers strongly suggest seeking professional advice when planning your move. Remember, working with a good team will make divorce much less overwhelming.
3. Make sure it's a financially sound decision
Selling a house after a divorce shouldn't be an impulsive decision. On the contrary, you should thoroughly think it through, especially if there's a mortgage involved. Your plans afterward are also a significant factor. Deciding whether to go bigger with your new home or downsize will affect your finances significantly. A wise move here would be hiring a financial advisor and/or an accountant. This way, you can have a specialist assess your potential gains and losses. They'll also provide you with a good insight into how the house sale will affect the rest of your finances. This way, you'll be able to see whether you can afford to sell a house.
4. Consider the practicality of the sale
Finances aren't the only thing that plays a part in the decision to sell your house after the divorce. Even if your judgment is financially sound, you should consider how it will affect your everyday life. Proximity to your workplace is a significant factor you should consider before making a decision. If you have kids, selling your family home may also affect their daily habits.
Another thing to consider when selling your house is moving to your next one. While moving within a neighborhood is generally more accessible, long-distance moves can be more complicated. If your fresh start is a bit further away from your current home, it's always a good idea to join forces with the pros. Divorce is already challenging enough, so being in good hands can help alleviate some of that stress.
5. Collaborate with your ex-spouse
If you and your ex-spouse co-own a house, it's really important that you're both on the same page regarding the house sale. Any disagreement can postpone and even completely stop the process. Apart from that, both of you should try your hardest to make everything go as smoothly as possible. We know that putting negative feelings aside can be a bit tricky, especially if the divorce is fresh. Still, both sides will benefit from it. Finding ways to collaborate can look different for everyone. Evenly splitting the tasks, such as decluttering the house before the sale, sometimes works just fine. However, this doesn't work for everyone. Many recently divorced couples find doing sale-related activities on their own much more pleasant. Whichever you prefer, the only important thing is that it keeps the conflict to a minimum.
6. Try to sell it as quickly as you can
Selling your house can help you get a fresh start after the divorce. Also, the sooner you finalize the assets dispute, the better. This is why you should aim to sell your house as quickly as you can if you do decide to sell it. Your first step should be to hire a reputable realtor. Make sure to do some market research. By learning what the buyers in your area want, you'll be able to make your house look more appealing to them. Doing a bit of home staging is another good idea. It has been proven to positively affect home sales, but it won’t take much time.
While home sales generally aren't a simple process, selling a house after divorce can be especially tricky to navigate. You'll need to arm yourself with patience and carefully consider every step. Still, you should try your best to push through it. A successful home sale is a great way to finish one chapter of your life and get a fresh start, which you deserve.