If neither spouse wants to stay in the martial home, or if neither can afford to buy out the other, you can put the property on the market and try to get the best possible price for it. Keep in mind that before the sales proceeds can be divided, you’ll have to pay off the mortgage, any equity line or second mortgage, misc selling expenses, and the brokers’ fees.
Both parties usually need to agree on an agent to represent them in selling the house. This can be hard if the two of you can’t agree. We are committed to being fair with both of you and making sure we stay focused on doing the right things to sell for the best price.
If you are selling the house due to divorce we know that is hard if you have kids. Because of this we have a unique offer to clients in a divorce situation with children. We will give your children (up to 4 children under 18 years of age) a $250 Series EE savings bond directly out of our earned commissions from selling your home.
This is nothing in the grand scheme of things, but their life is changing and we are trying to give something of value for your child during this time. Who knows maybe it will start them thinking about saving for the future. If you have one child they will receive a $500 savings bond. In addition, we have a small package for your child for move out day. It is designed to distract them from being sad on that that day. We get it… divorce sucks… but it happens and we want to help everyone get through it.
(On a side note… We do not believe in asking you to change things in your child’s room when you are selling. That is their space. We can work around it. We may move things around and take coloring pictures off the fridge, but the kids need to have their room the same.)
If one of you decides to keep the house it might make sense to get a market evaluation as well as talk with a financial planner about if it really makes sense to keep the house right now. Chances are you will move residences soon after things settle down as you move on with your new life. It might make sense to sell and make a clean break of that house. We have had situations where the market was good at the time of divorce and one party kept the home only to want to sell three years later when the market was down and the equity was lower or worse yet non-existent.
If you are in this situation right now please give us a call so we can meet with you and help you figure things out. Remember after talking with us there is no obligation sometimes you just need the information to make future decisions.
Stacey Carpenter (515) 202-2803
Alice Winders (515) 771-2329
(and YES we TEXT!!!)