The majority of houses owned by divorcing couples need to be sold, and many of them well below market price. That may seem like good news for buyers, but if both divorcing spouses haven’t signed off on the selling agreement for that property, the deal could be easily derailed.
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If the agreement is to sell the home with the equity divided between the divorcing spouses, things should be relatively easy. Sometimes one spouse may remain in the home and be responsible for listing, showing and selling the home with the other spouse being responsible for part of the mortgage payment, taxes, and upkeep to the house.
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Divorce and selling a home usually go hand in hand because of the emotional issues stemming from keeping the property. You may have built a happy and fulfilling life in your home, including pets and children and improvements to make it just like you like it.
Selling a House and Divorce. Without a doubt, selling a home and getting a divorce are two of the most stressful life events. Put them both together simulataneously and it can be real fireworks. Never underestimate how emotional both of these processes can be.
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The third option that exists when selling a home while going through a divorce is the couple will continue to co-own the property. The primary reason that a divorcing couple will choose this option is because there are kids involved.