Casula Divorce is a difficult time and things can get complicated when it comes to selling the home you owned together.
Here are some tips to make your house sale less stressful when going through a separation from your partner.
Decide if selling is definitely the option
Not every couple sells the house when they separate. Sometimes one partner will ‘buy out’ the other and take over the mortgage for an agreed amount.
If this appeals to you, speak to a real estate agent to request an appraisal of what the home is worth. This will help you figure out if you can afford to buy out your partner or not.
One partner may say it is ok for the other to stay in the house for a set amount of time before selling. Make sure to have all agreements in writing so there is no confusion down the road.
If you do decide to sell, either work out between you and your ex or work with a mediator/lawyer to figure out how much each of you will take away from the sale. It’s better to know this before you put the home on the market if you can.
Figure out your priorities
It makes sense to decide between you and your ex (if you can) what your priorities are.
For example, you may both be more interested in a quick sale so you can rapidly free up some cash and use it to make your next move.
Alternatively, there may be a price point that you can’t go below. In this case, you may need some extra time to prepare and you may each need to invest some cash to put towards improving the home before you sell. Again, agree in writing how much each party will contribute and record how the expenses will be reimbursed.
Get the right help
The best way to deal with selling your home after a divorce or separation is to have an empathetic and experienced agent.
When you choose well, your agent can act as a compassionate ‘bridge’ between you and your ex as you navigate the requirements of the sale.
Your agent will let you know:
The right price to ask for based on up-to-date market movements
The best type of sale: You may want an auction to try to create a bidding war, but it may not be the best option for a quick result. Your agent will tell you whether an auction is the right way to go or whether you should pursue a private sale to keep things moving more quickly.
If an off-market sale is recommended to protect your privacy and get an even faster result.
Which upgrades you need to consider (and your agent can help by arranging handymen, landscapers, home stylists etc)
The best way to market your property: An agent will handle all the marketing and can even help you to style the home or find a designer to do it for you.
Your agent will also explain the costs involved with selling your home so you have an idea of the profits that will remain to divide up between yourself and your ex.
These days, it’s possible to interact with your real estate agent without having to be in the same place as your ex at the same time. They can use phone and video conferencing to interact with both of you separately if this is what you prefer.
Let your agent be the voice of reason, rely on their expertise/industry knowledge and your transition will go more smoothly from start to finish.
Get it done
Your real estate agent is here to help you sell your home as smoothly as possible during a separation. Let them handle the bulk of the work and listen to their advice. An agent won’t take sides; their job is to get the best price for your house in the time frame you are most comfortable with.
Once your sale is final you’ll be able to make a fresh start and look forward to the next chapter of your life.
Need help to quickly sell your home after a relationship breakdown? Contact your local Professionals representative today.
Professionals paradise realty 02 9731 6204