Divorce and selling a home, they say, are on the list of the most stressful events a person can go through in their lives.
One of the realities of being a Massachusetts Realtor is that I often encounter folks who will need to sell their home due to a divorce.
Divorce and selling a home in Massachusetts is as common as the day is long. It is one of the things that keeps real estate agents busy.
The divorce rate today is higher than it has ever been. It is just a fact that people do not stay together for better or worse like they used to.
The divorce rate, of course, opens up the opportunity for Realtors to be helping those that need to sell what usually amounts to their largest marital asset.
Purchasing a Massachusetts home together can represent a significant outlay of funds for one or both members of the divorcing party. When it comes to divorce, both members will have had an active interest in ensuring that their part of the investment is protected, whether there was a cash outlay or not.
Selling a house during divorce can often be a highly charged emotional event. Even in an amicable divorce, discussing the sale of the home could lead to rash decisions.
Keep a close lid on your feelings and ensure you are not led by emotion into a wrong decision. You will need to consider that this should be an intelligent business decision.
When selling a home and getting a divorce in Massachusetts, you will want a competent representative in your corner.
A good Massachusetts divorce attorney is something both sides should have unless you think things can be worked out through mediation.
There Are Typically Three Scenarios When Selling a House in a divorce:
- One spouse keeps the home and buys out the other party’s interest.
- One spouse keeps exclusive use for a specified period, typically when the youngest child turns eighteen, after which the home can be sold.
- The home is sold immediately, and each spouse shares the profits.
Both parties should be thinking…