Whatever your reasons for selling your family home, it can be a challenging time. The complications of selling during a divorce can be even worse when there is conflict between you and your former spouse. This is one of the toughest situations we face as real estate agents.
Needless to say, some separations are easier than others, but having a plan in place can help every transaction run more smoothly. In this post, we’ll offer our best survival tips for letting go of the matrimonial home so you can move on to a happier future.
Start With Communication and a Plan
Interacting with your ex-partner may feel like the last thing on Earth you want to do. However, if at all possible, it’s always best to maintain clear and polite communication. It will help to reduce stress and keep the peace, and it could also result in selling your house faster and for more money. Since a successful sale will benefit you both, it pays to be civil.
Before doing anything, you and your former partner will need to work out a plan you can both agree on. When emotions are running high, it can seem as though there is only one path forward. The truth is that several options may be open to you.
If you need to sell in today’s market, the resources below can help:
- Need to Sell Your House in Peterborough? Here’s What Buyers Are Looking For
- Is It Better to Buy or Sell First in Peterborough?
- Selling a House in the Kawarthas? Here’s Why it’s Different
To Sell or Not To Sell?
As one of your most significant financial assets, what to do with your matrimonial home is often the biggest and most difficult decision to make. Not only that, the house is full of memories, for better or for worse. It can be hard to stay within those four walls, which is why many divorcing couples end up selling the home before going their separate ways.
However, this is not the only path. If one of you wants to stay and the other wants to leave, you may be able to buy the other partner out. Buyouts can be complex, and having the option depends primarily on income and equity but also on the ability to maintain the home once the other partner has moved out.
An experienced real estate agent can help guide you through this process even when you’re not publicly listing your house for sale.
Choose a Real Estate Agent
Selling a home during a divorce is a big part of separating the assets. Should you also use separate real estate agents to represent you during this transaction? Once again, it depends on the situation. Working with a single agent helps to keep things simple where you both have one point of contact. Plus, you won’t have to go back and forth communicating with multiple parties, where the message can get lost in the shuffle. Working with a single agent is usually a better choice when your divorce is reasonably amicable.
If this isn’t feasible, you will have to seek an alternate solution.
- Work with two different brokerages. When your divorce is contentious, co-listing between two brokerages gives you the most separation between you and your former partner. This can, however, result in a longer selling process. Plus, buyer agents may be able to tell that you are highly motivated to sell, which can make negotiating trickier.
- Work with separate agents within the same brokerage. This option provides the best optics to potential buyers, who will see your listing as a standard transaction. Communication between agents is also easier, which helps to streamline your transaction.
Do you need help finding a real estate agent that can help during these challenging times? Here’s How to Find a Real Estate Agent in Peterborough You Can Trust.
Aim for a Fast Transaction
When selling during a divorce, you may want to disregard some of the standard rules. In this case, the faster you sell your matrimonial home, the sooner both parties can move on and heal. The conversation will begin once both parties get a clear picture of what they want to accomplish and what resources they have for their next steps. Your local real estate agent can help you run the numbers so you know what you need from your sale.
- Sometimes, every dollar is critical and you will need to do whatever it takes to prepare your home for the maximum impact.
- Other homeowners may decide that getting your home on and off the market quickly is their top priority.
The amount of home preparations you decide upon will also depend on what condition it is in. Often, a few minor updates are enough to increase the selling price in Peterborough’s high demand market. At the very least, scrubbing and decluttering the home will help potential buyers visualize themselves living there. If significant repairs or updates are necessary, it may be best to leave them up to the new owner rather than experience a long and stressful transaction.
Whatever your situation, your real estate agent can help you determine what preparations will have the least impact on your day-to-day life while helping you sell your home successfully. They can also recommend highly qualified professionals to handle any of the tasks you are unable or unwilling to do yourself.
Should you settle down in Peterborough once your divorce is final? Here are some facts you might want to know:
- All About Peterborough’s Stunning Green Spaces
- Our Favourite Small Businesses in Peterborough
- Is Peterborough Dog Friendly?
Take Care of You
Going through a divorce can be one of the most painful and difficult times in anyone’s life. It’s easy to get caught up in negativity, especially during a monumental task like selling the family home. That’s why you’ll want to take time out whenever possible to care for yourself.
Even if it’s a moment here and there to get outside and take a walk, these brief mental breaks can help reduce your anxiety for the duration of your transaction. Most of all, surrounding yourself with a supportive team of friends, loved ones, and compassionate professionals can help you begin the healing process as soon as possible.
Do you have questions about how to buy or sell a home when faced with a challenging situation? We are here to provide you with the confidential information and advice you need. Reach out today to team@jeffandkatie.ca or call 705-243-9797 to take the first step.
