How to sell your house after break-up
Table of Contents
Trying to sell under the radar
In the upsurge of relationship breakdown, people may act irrationally and sometimes even try to sell their common assets without knowing it to prevent the ex-partner from getting out. This can be counterproductive, especially if both parties own the property because the agent cannot legally sell the property without the owner’s approval.
Rushing to sell
The need to fast forward will stimulate the predecessors to press the fast forward button during sales. But selling quickly off-site is not necessarily the best method, especially when the market is hot and the four-week auction may produce stronger results. It is best not to rush to make important decisions, such as selling a property.
Disclosing the break-up to potential buyers
Most successful real estate investors understand that the “D” in divorce will bring some bargaining opportunities for basement purchases. Sellers often sell them quickly (as I mentioned above) or the house is half empty, and half of the clothes in the refrigerator, washing machine, and closet have been cleaned. Buyers don’t need to pay much attention. What’s wrong? When a property is sold, it is always important to own it. It looks best, so if you need to rent furniture to hide the fact of separation or divorce, I suggest you do so.
Also, make sure you provide advice to your selling agent about your desire for your personal circumstances not to be disclosed to potential buyers.
Buying a new house too quickly
Buying a new house too quickly
Property Settlement Agreements
Once you and your ex have reached a final agreement on all issues regarding who’s going to live where, what happens to the house, how you’re going to split assets (and debts) and any other issues, it’s a good idea to prepare a clearly written document covering all the details of your separation. Be as specific and clear as possible and list each key provision (Who gets the car? The piano? The cat?) separately.
Be sure you both date and sign your settlement agreement and each keep a copy. It’s a good idea to have your signed agreement notarized, just in case there’s a future need (in court or arbitration) to prove that the signatures on the agreement are not forged.
Your signed agreement is enforceable in court in the same way as is any other binding agreement—assuming the agreement doesn’t call for an illegal action.
Be sure to have an experienced attorney review your agreement, especially if you have substantial assets.