All You Need to Know About Selling Your House After Divorce
March 10, 2018
“Sometimes, good things fall apart so better things can fall together.” -Marilyn Monroe
It is believed that marriages are made in heaven, but they are celebrated on earth. Marriage is crowned as the most trustworthy social institution that provides both emotional and psychological security to us. It is the fulcrum around which our culture and human society revolves. Moreover, getting married is the first step to getting settled and heading into the beautiful journey of life.
Unfortunately, many marriages end in divorce. People generally find it easier to part ways with their spouses rather than trying to compromise on their life and happiness. When problems seem unsolvable between two persons, they often take on the dramatic and unpleasant shape of conflict. This becomes even worse when not just the other adult members of family are affected badly, but also the kids suffer and feel and lost.
In addition, if a relationship consistently hurts your soul and stresses you out every moment, then it is better to make a call and approach a good family attorney in Oklahoma City, OK, to get things sorted out as soon as possible.
The decision to get divorced is quite shattering and often leaves you in distress. This is due to the reason that the overall process of getting separated legally involves making several other decisions on either major or trivial issues like money, property and custody of kids. This means you need to be prepared for sorting out issues related to almost everything that both of you share with each other as a couple.
The most common bone of contention among separated couples seeking divorce is the ownership of immovable properties. Experts in the field of finance suggest that during the process of divorce, selling your house or other immovable property can be helpful and beneficial. The monetary gains from selling the property will surely give you a solid ground on which to start a new life. Apart from this, couples who find it too hard to manage the financial burden during the process of divorce or who seek ways to get rid of any mutual investment consider selling the property as quite a good option.
However, there are some essential points to be noted well before you make up your mind to sell joint property during a divorce. These are discussed below.
How to Be Prepared
The process of divorce is not so easy and thus requires you to be patient and composed throughout it. The decision to sell your property should be based on mutual consent after sketching out the financial status of both parties. In addition, you should also keep in mind that your house might need some repair and maintenance before it can fetch you a good price. If one of you continues to live in the house, you must discuss with each other about the liabilities and conditions that will eventually follow. The best family attorneys in Oklahoma City recommend hiring a real estate agent jointly to avoid disagreements and unnecessary delays.
When to Accept an Offer
It is quite natural for two people heading into a divorce to contradict each other in thoughts and actions. These conflicts can turn into heated arguments and accusations, especially when it comes to settling on a price for a property that they jointly own. Thus to avoid such clashes, the experienced family attorneys in Oklahoma City suggest trusting your real estate broker. You should consult your divorce attorney regarding whether to go for an offer or decline it. Here, both parties seeking divorce must keep in mind that getting a good price for your combined property will be the last thing you will do together, and cooperating with each other can help both of you in the future.
Distribution of The Profits
Finally, when both of you have settled for a good price for your home or property, then you might get stuck in distributing the profit between yourselves. The expert family attorneys in Oklahoma City direct their clients to mind the prevailing state laws when splitting the money. Since marriage gives both of you equal rights on property, the profits from the sale should be distributed equally between you and your spouse. The ways in which the expenses related to the house will be managed and the profits split between the parties depend upon the negotiating skills of your family attorney. However, a prudent sharing policy should benefit both the spouses equally so that getting through the divorce procedure becomes quicker and easier.
** Disclaimer: This blog article is not legal advice and does not create an attorney-client relationship.