We all know that a divorce is an emotionally draining process and it can be a financial mess if a couple owns a home and makes mistakes when trying to sell it. During the past 20 years of being in business as a brokerage, we have worked with many couples going through a divorce and have learned a few valuable lessons along the way to share with anyone searching for advice.

Compassion First

Our topmost goal in working with anyone dealing with divorce is to handle the transaction with compassion and understanding for both parties. Listening and offering access to a team of professionals who can help make the transaction as quick and painless as possible is paramount.

As you seek professional advice, you also have to take care of your emotional and physical health during this difficult time. Some of our agents have themselves gone through a painful divorce and have dealt with dividing assets. This process is not easy, though talking to someone who has walked in similar shoes may help.

Choose A Realtor with Experience in Divorce

You may run into some scenarios that seem to be quite complicated. Don’t expect to have all the answers as this isn’t what you do professionally.  It is what we do, and we can get you to the answers more efficiently than working it out on your own. You might not think of us first, particularly if you are not sure yet if the house must be sold, but you should. We can be a resource as you decide your path. Some of the more complicated examples may include a request to buy out your spouse’s share of the house and deciphering what the resulting tax implications might be. Another scenario true In our Bay Area markets: The split proceeds may not be enough to set up two new households. Even if it isn’t likely to result in a new home, the proceeds are still likely to be a sizable investment. You need guidance to navigate the waters of moving from homeowner to real estate investor.  To that end, you may also have questions about a spouse’s potential desire to do a partial 1031 exchange on their share of the holding. Though our agents are not specialists in all fields, they can educate you on these processes and then guide you to the proper professional.

If both of you have decided to sell the house, an experienced agent knows how to impartially listen to both sides and make recommendations that best benefit both parties. Having a seasoned professional can help both spouses handle the sale like the business transaction it is. A neutral professional can help you to put emotions aside and achieve the best possible outcome. We know the importance of facts in a stressful situation and we use strong data points to help you agree on a well-reasoned list price. Our impartiality adds clarity when reviewing offers, reminding everyone of the common goal of getting the highest sales price.

Experience has taught us the importance of getting everyone on the same page. If sparring spouses cannot agree, attorneys need to get involved which costs both parties more in the long run. Though emotions may run high, it is our duty to help you avoid doing anything that could sabotage your own profits by making the transaction more difficult. We are your confidant and sounding board throughout the process.

Getting the House Ready

Your Realtor can help you hire a stager or work with you both on deciding if a few things can be repaired/redesigned before it goes on the market. These decisions will assist with getting you the best price. It is often recommended that at least one spouse moves out of the house before preparing it for the market. If you are the one who decides to leave, take everything that you own personally out of the house. This will help remove you emotionally.  When the house sells you don’t have to go back and relive the memories. Rest easy in the meantime. You hired someone you both trust. Your Realtor will make sure you are kept in the loop about property showings and include you on all decisions pertaining to the sale of the home.

Your Mortgage Is Still Your Responsibility 

As you go through the move-out, staging and the sales process of your home, remember that filing for divorce does not end your responsibility to your mortgage lender. If both of your names appear on the mortgage, you both are financially responsible for the debt even if one of you is no longer living in the home. If that mortgage isn’t paid during the time it takes for the home to sell, the delinquency will damage the credit history of both spouses. You can discuss with your Realtor or attorney if removing yourself or your spouse from the title of the house is an option with a quitclaim deed or court order. Good counsel is important as you may be forfeiting your right to the proceeds of the sale of the house if you sign away your rights to the property.

Tying It All Together for You

“Certainly this is an extremely trying time for a couple going through a divorce,” shares Lisa Hedrick, Berkeley Hills Realty. “They’re overwhelmed with legal paperwork and decisions. It’s often difficult just determining who to reach out to for assistance with menial tasks such as filing, service, estate liquidation, mediation for personal property division, etc. Choosing an experienced Realtor who will be able to interface between all of the professional fields – accountants, lawyers, contractors, and agents is huge.”

Lisa also shares that divorcing couples often are so overwhelmed that they don’t even have the energy to interview multiple agents.  Berkeley Hills Realty works as a team to assist divorcing couples in taking on part of the burden they are carrying and divide the work into simpler tasks. Contact us so we can help.