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What to do with the house after divorce?

On Behalf of | Apr 23, 2013 | Divorce

If you’re considering a divorce or currently going through the process of ending a marriage, you probably already know that you need a financial advisor or an experienced Colorado family law attorney on your side to help you protect your interests. But many divorcing spouses, faced with an unfavorable real estate market, are adding real estate agents to their divorce teams as well.

In fact, this trend has become so prevalent that some realtors make it a niche, using their experience to help divorcing spouses move out of the marital home, sell the house or find a new place to live that will help them start their new lives off right. While real estate transactions may be fueled by life events like having a child, getting a new job or moving to a different state, deals that originate in a divorce make up a significant part of many realtors’ business.

These professionals deal with a lot of issues unique to divorcing couples. For example, in some situations, one spouse may get the house in the divorce and want to sell it. The other partner may not like the idea of losing the house, particularly to a stranger, They may try to sabotage the sale to hold things up. A realtor familiar with divorce cases may be able to serve as an intermediary between these couples (if only for the limited purpose of handling the sale).

Sometimes one spouse has already moved out, leaving the house half-empty and looking out of balance. Realtors may rearrange things to make the house look homier and maximize its potential price. When some potential buyers hear that a home is being sold because of a divorce, they may try to underbid in hopes that the sellers are desperate. A good realtor can minimize that risk.

Source: The New York Times, “After the Breakup, They Help Sell the House,” Elizabeth Harris, April 1, 2013