A lot happens during a divorce. Both partners try to ensure they fight to get what belongs to them. One of the most valuable assets is the marital home, which can bring conflicts, especially if both parties claim ownership. It gets worse if one party wants to sell the property while the other wants to retain it, probably for the sake of the children. One thing to note is that home rights ensure that no spouse is forced to vacate their marital home even if they are not named on the mortgage, or they are not a legal owner. However, if both spouses have agreed to sell the property, then there might not be any impediment since this is an agreement. Discussed below are some things you need to keep in mind when selling.
Get Your Things In Order.
Before involving an attorney or even a real estate agent, the first thing you need to do is to get your finances in order. Most spouses tend to share financial details when they were married. If separation occurs, it is advisable that each party manages its finances. Take time to value all the assets that you own, as well as the liabilities. If you don’t have an idea about the value of some of your property, you may consider getting an appraiser who will determine the market value of that property. Do not sell the property blindly because you may end up selling it at a loss. You need to have valid copies of relevant contracts, certificates, and agreements of the property you shared while you were together. Certificates are necessary because they verify that you are the legal owner or beneficiary. Some will help you clean the property to increase its appraisal value.
Find An Agent To Sell The Property.
During this time, there is a lot of chaos, disorder, and tension. You, therefore, need to find a real estate agent who is competent enough in dealing with property sale after the divorce. Not every agent understands how divorce sales happen, and so you will need to hire one that has some experience in divorce sales. Furthermore, this agent should know how to deal with both parties, with the required compassion and sensitivity. An excellent wills and estate lawyers sydney will also be able to maximise your proceeds from the sale of the property.
Option To Settle Property Sale In Court.
In some cases, you find that the two spouses fail to agree about selling a property or how they should share proceeds from the sale. At this point, you need to seek legal representation so that the court gets to decide on the issue. Keep in mind that courts handle cases differently. Understand how property division after divorce is dealt with in your jurisdiction before proceeding any further. The court will then reasonably determine the value of your assets and liabilities as well as how the two parties should divide the proceeds.
Selling property after divorce can be overwhelming, considering you have gone through a separation. It requires you to have a clear mind so you can sell the property at the right price. Consider the tips above, if you choose to go down that road.