Selling the family home is not the only option when getting divorced. But for many couples, it is the best choice. Even high-income individuals can struggle to afford the mortgage on a multi-million-dollar house. And selling can be the simplest way of splitting the proceeds of the property, rather than one spouse buying out the other’s ownership rights.
Selling your house can be a long, stressful process when divorce is not involved. Combine divorce and a home sale, and you could be looking at a disaster — unless you handle the sale properly. Here are four tips to help keep the house sale from dragging out your divorce.
- Try to keep emotions out of it. It’s natural to feel sad or even angry about selling the house, especially if you lived there a long time. But your feelings should not control your decision-making regarding the sale. Stay rational as much as possible.
- Before proceeding, make sure selling is the best decision for you. Remember, you will have to find another place to live. If you can afford it, staying in the house and buying out your ex could be better.
- Put together the right team. Besides your divorce attorney, you will need a real estate agent to help you get the best possible price and handle negotiations on your and your ex’s behalf. Meanwhile, a financial advisor can help you get an idea of what your new housing expenses will be.
- The home sale will work out best if you and your ex can work together on it. Once you agree to sell, getting a fair price and selling as quickly as possible will be a common goal.
A smooth home sale is possible and can put you in a good position to afford a new place that continues the lifestyle you enjoyed during your marriage.