Generally, the most significant property division decision a divorcing couple makes is what to do with their home. Whether it’s the first home they bought or a large home where they’ve raised their family (or both), that decision can be a highly emotional one.
The only affordable choice for many couples is to sell their home and divide the proceeds. If you’re divorcing and you’ve already made that decision, the next step is to work together to sell it as quickly as possible (preferably early in the divorce process) and for the best price you can get.
Selling a home can put a strain on any marriage, but when you’re already separated, it will require putting personal feelings aside to focus on making the most of the sale. Fortunately, most real estate professionals have experience helping divorcing couples sell their homes.
Find an agent you both trust, and who has necessary knowledge and experience
You may have an agent you’ve worked with before and both trust. If you don’t have someone in mind, you may want to get a Certified Divorce Real Estate Expert (CDRE). These are agents with special training in handling divorce-related home sales and dealing with high-conflict situations.
One spouse should (probably) remain in the home
Homes that are still lived in typically sell more quickly than those whose owners have already moved. Agents and buyers often assume that if sellers have already moved, they’re more anxious to sell and will take a lower offer.
Determine how repairs, upgrades and maintenance will be handled (and paid for)
Before you put your home on the market, you’ll need to determine (with your agent’s advice) how much time and money to spend on repairs and upgrades and how the costs will be divided.
You’ll also want to determine who will be responsible for the maintenance while the home is on the market. If the spouse who mows the lawn and cleans the pool is the one moving out, will they continue to handle these things? It never hurts to codify these things as well as how the mortgage, utilities, taxes and other ongoing expenses will be divided until the home officially belongs to the new owner.
Every situation is unique, but these are a few things to keep in mind. By having sound legal guidance, you can help ensure that your rights and interests are protected throughout the process.