How to Sell Your House Before a Divorce

Divorces aren’t easy, and spouses usually have to deal with custody issues and money matters. Since most married couples own a home together, a divorce usually involves selling the property. Of course, one spouse can choose to keep the home and buy out the other. Yet, this method results in a higher mortgage, which can be hard to manage on a single income.

Things You'll Need

• Real estate agent
• Comparative analysis

Instructions

1. Get an experienced real estate agent. To save money on realtor commission, some people choose to sell their homes themselves. However, if you want to sell a home before the divorce, solicit the help of a good realtor. They’ll locate potential buyers, arrange open houses and handle the entire transaction.

2. Assess the market and determine worst case scenario. Some real estate markets are stagnant, in which it can take months or years to sell a property. Research your current market and determine the average time it takes to sell a property. During this time, decide who will live in the home and pay the bills.

3. Agree on a selling price with your spouse. Naturally, you and your spouse both want to benefit from the sell. Choose an asking price that’s fair.

4. Make home improvements to ensure a quick sale. If there’s a lot of competition in your immediate area, you’ll need to make your home stand out. Improve your curb appeal, stage the home and make minor improvements to impress potential buyers.

5. Determine how the proceeds will be split. Prior to selling the home before the divorce, decide how to split the proceeds from the sell. Often times, homes are marital assets, and spouses equally share the profit. However, if you or your spouse purchased the home before the marriage, one person is entitled to a greater share of the profit.