Whether you have a sprawling house or a small condo, your home is likely your largest marital asset. If you’ve decided to sell your home as you divorce and split the proceeds, that’s one big issue you can check off your list.
There’s still a lot of work ahead of you as you sell your home. The better you’re able to work together, the more smoothly things will go. Cooperation, communication and sound decision-making can help you sell the home expediently and for a good price. Let’s look at just a few decisions you’ll need to make together or at least agree upon.
Finding an agent and setting the price
If you already have an agent both of you trust, they may be your best choice. If not, you’ll want to look for one who has experience working with divorcing couples. You may even be able to find a Certified Divorce Real Estate Expert (CDRE).
You’ll need to work with them to agree on an asking price and a range for what is an acceptable offer. This will minimize back-and-forth communications as the offers start rolling in.
How much money and work do you put into fixing it up?
Likely, you don’t want to spend a lot of time or money on upgrades before putting your home on the market. Your agent will be a good source of advice.
If you do put money into upgrading it, you’ll need to agree on how the costs will be split and who will do or oversee the work. It may be worth the money to do some repairs if they’ll help raise your asking price.
Who stays in the home?
If one of you has already moved to another home, that question is probably settled. The other one should probably stay, if possible, until it’s sold. For one thing, you’ll want to keep up on lawncare, pool cleaning and general maintenance.
Homes also sell better when they look lived in — just not too lived in. Agents can tell when sellers have already moved and therefore are likely to drop the price for an interested buyer.
These are just a few things to consider as you sell your home as you divorce. In addition to sound real estate help, experienced legal guidance is crucial to helping you make the best decisions.