What do you do when you find yourself in the middle of a divorce and have questions?

Many times, a divorce includes the sale of the family home. The combination of the complications of a divorce as well as figuring out how to sell your home requires diligence, patience, and most importantly, the help of seasoned professionals like attorneys and realtors.

Partnering with a licensed legal professional can be the starting point to help you work out a plan and protect both parties’ interests. This little blog isn’t intended to be a legal guide or to dispense legal information. Instead, these few paragraphs focus on the sale of your real marital property.

Florida is not a “community property” state, following the laws of equitable distribution. That means that property acquired will be divided between the spouses in a fair and equitable manner.

The court decides which spouse receives what, depending on several factors including the financial contributions of each spouse. Here are two points to consider and probably share with your chosen attorney (and potentially your realtor):

1) Know who has the legal financial responsibility for making the mortgage payments.

2) Collect all your information on your home insurance, property taxes, debts, and marital assets.

Once you have a handle on the financial part, you must now consider action. Here are three potential actions:

1) When there are school-aged children in the family, some couples decide to let one spouse stay in the home with the children so that their daily routine is not interrupted. If this is the choice, couples need to be aware of unforeseen or unbudgeted expenses.

2) A Buy-Out. One spouse may buy out the other one. That would probably entail re-financing the house. Refinancing means paying off the original loan, paying the other spouse. There are many points to consider with this action and would probaly be best served with your CPA or chosen attorney.

3) Selling the house. For many couples, selling the house is the best option. This action again requires the opinions of your attorney and the selection of a good, experienced realtor. To do this, both parties should agree to disconnect emotionally and handle the sale of the home in a business-like fashion. Consult your legal counsel on contingencies that might arise.

Finally, your choice of an experienced realtor comes into play here. It is a common fact that sellers should not choose a “friend”, but rather a realtor who has had experience dealing with divorce situations – a good realtor who can deal with both sellers and is a good listener. Your choice of a realtor will most likely result in a smooth, successful sale of your home.

Looking for more information from a realtor? Contact Realtor Karen Jorgensen, with Charles Rutenberg Realty. She will be happy to speak with you and send you a free copy of one of her most popular little real estate books entitled “Best Selling Options in a Divorce.”

Karen Jorgensen, Realtor
Myfloridahomes4u@gmail.com
Charles Rutenberg Realty