Divorce Consolidation 101: A Quick Guide From Real Estate Experts
A divorce is one of life’s most burdening and emotionally taxing experiences. Considering all the aspects involved can be overwhelming, especially when separating finances and finding a new place to move into. This is where an experienced divorce realtor can assist you in finding the right place to live.
You may be confused and unsure where to start; that’s why we’ve compiled a list of the most helpful tips from real estate agents specializing in divorce. Keep reading to learn more.
6 Divorce Consolidation Tips
Work With A Reliable Agent Experienced In Divorce
Finding a trustworthy and experienced real estate agent specializing in divorce is crucial. The agent should be able to represent both of you, not just one spouse. An experienced professional in your state’s divorce laws and regulations can save time and money.
Save Money And Time By Finding A Middle Point
Avoiding conflict and finding a middle ground is essential in any divorce. This is also true when selling the property. Fighting over every aspect of the sale can lead to unnecessary expenses, further elongating the process. It is advisable to approach the sale of the property with an open mind and willingness to negotiate with each other.
Don't Overthink An Offer
After listing the property, the seller will receive offers to buy it. Reviewing all the offers and ensuring the buyer has a pre-approval letter showing that the lender has verified their income and credit score is crucial. Still, overthinking or delaying an offer can lead to losing a potential buyer.
Only One Spouse Should Live In The House When Selling
Only one spouse should continue living in the house while trying to sell it. This can help maintain a peaceful environment and facilitate the selling process. If one spouse refuses to cooperate and continues residing in the house, it may affect the sale’s staging and the overall process. Allowing the house space to stage is best to make it more appealing.
Consult A Tax Specialist
Divorce and sale of property come under Section 1041 of the IRS code. A tax specialist can advise you on how to deal with taxes arising from the sale of the property. They can assist you in working out the capital gains tax implications and computing negative sale outcomes regarding the sale.
Remove The Other Person From The Deed
In some consolidation cases, one spouse may choose to keep the house. In that case, they must remove the other’s name from the deed, but they may still need to renegotiate the mortgage. This is important to avoid mortgage liabilities following a divorce.
Enjoy Working With A Reliable Agent Expert In Divorce Settlements
Divorce is tough enough as it is. Adding property settlements can make this situation overwhelming for both parties and extend the process unnecessarily. Both of you deserve to move on in peace without further delays. At DeWilde Agent, I understand that consolidating after a divorce is emotionally burdening. That’s why I specialize in helping divorced couples find the best solutions.
If you need to consolidate after a divorce, I can help ensure both parties are satisfied with a fair agreement. To get started, simply:
Get in touch, and we'll review your situation.
Then, we can prepare to sell your house by decluttering and staging it.
I'll help you negotiate and complete the paperwork after closing the deal.
Don’t miss out on reaching a fair agreement in your divorce. With my estate realtor services for divorce, you can consolidate quickly and fairly, leaving both parties satisfied.