When Complex Divorce And Family Law Matters Must Be Handled Right, People Turn To Us

When Complex Divorce And Family Law Matters Simply Must Be Handled Right, People Turn To Us

Divorcing spouses can work together to sell their home

On Behalf of | Apr 15, 2022 | Property division |

If you’re like many divorcing couples, your home is your most valuable shared asset. Many couples opt to sell it and split the profit so they’ve each got a nice bit of money to start their new lives. 

In a seller’s market like we’re seeing now, getting a good price for your home should be easy, right? Unfortunately, too many divorcing spouses sabotage the process because they can’t agree on anything. 

Because selling a home in divorce can be challenging, there are actually real estate agents who are specially trained to handle home sales by divorcing couples. They have some understanding of property division laws and other elements of divorce that can affect a home sale. They’re also trained to deal with clients who may barely be on speaking terms with one another so that their differences don’t derail the sale.

Tips from the experts

Whether you choose to contract with an agent with this special training or not, you can benefit from their knowledge. Among the things they recommend are the following:

  • It’s typically best to finalize the sale before the divorce – particularly if you’re making a hefty profit and filing one last joint tax return. Married couples are allowed to exclude up to $500,000 in capital gains on their income taxes.
  • One spouse should continue to live in the home until it’s sold. When potential buyers can see that the owners have already moved, they assume they are anxious to unload the property and will accept a lower offer.
  • Arguing about every issue is just going to make the process take longer and potentially cause you to lose out on good offers. If you have to ask the court to resolve a conflict, it’s going to cost you time and money.

These are just a few things to be aware of as you and your future ex-spouse sell your home. In addition to having experienced legal guidance, having real estate, tax and financial professionals on your divorce team can help you make the most of this valuable asset.