Real Estate and your pending divorce…
Posted by Colleen Kulikowski, Licensed Real Estate Salesperson (716) 650-0051 on Jan 12, 2012 in Clarence Homes, Home Seller Resources, Lancaster Homes, Real Estate News | 0 comments
Divorce and Real Estate
Divorce is rarely easy and often means a lot of painful decisions that need to be made. These decisions are important and they can have long ranging effects on both partners financial future. After making the decision to divorce, the most important decision is what to do about the house you called a home together.
Historically, the family home is the asset that most often causes controversy both before and after a divorce. In the midst of the heavy emotional and financial turmoil, it is important to be non-emotional, straightforward, in how you decide to deal with the Real Estate from the marriage.
Read Also: Divorce and Real Estate
Once you know how a divorce affects your home, your mortgage and taxes, critical decisions are easier. Neutral, third party information can help you make logical, rather than emotional, decisions.
There will almost certainly be some financial repercussions to your decision process. What can you afford? Can you manage the old house on your new budget? Is refinancing possible? Or is it better to sell and buy something else? How much house can you buy on your new budget?
Options You Have Regarding your Real Estate
- One party buy the other party out
- One party could keep the real estate and pay the existing mortgage
- One party keep the real estate refinance the mortgage into only their name
- Sell your Western New York Real Estate and split the proceeds
Many times selling your Western New York home is the best thing to do. It is just easier to start fresh without the memories of the old home.
Read Also: Common questions regarding Divorce and Real Estate
How do we sell the home?
What it really comes down to is working together to reach a common goal as quickly as possible. It is my job as your Realtor® to be neutral. Together, we are a team. We have a common goal – to sell your WNY home for the best price as quickly as possible with as few complications as possible.
Remember that who did what, and your arguments are left outside of this transaction. This will be the last time you will need to have a united front. A tall order, I know, but it can be done.
Read Also: Divorce and Real Estate in Long Beach
I hope this all helps but please feel free to call me at (716) 650-0051 or fill out the form below to start the process of selling your WNY home.
0 Comments
Trackbacks/Pingbacks