Why Divorcing Couples Need a Real Estate Agent Specializing in Divorce Real Estate

Every thirty six seconds a divorce is occurring somewhere in the United States. Experts say your chance of getting divorced is 39%. A couple going through their first divorce is aged 30 on average and the prevalence of divorce for people over the age of 45 is increasing. Based on those demographic statistics, many people going through a divorce probably own a house or other property and this makes divorce real estate an important topic.

One of the key assets in any divorce is the house. Not only is it a significant asset while married, but in divorce the house often can help fund the process, pay off debt, and help both parties re-establish housing after the divorce.

Working with a divorce real estate specialist can make a big difference in making the right decisions about the house and ensuring the end result is the best that it can be.

Why Hire a Divorce Real Estate Specialist

There are some key things that a divorce-trained real estate agent brings to the table.

Neutrality

Selling a house during a divorce is very different than selling a house during normal circumstances. There can be discord between the divorcing spouses, and there may even be a restraining order or a court order in place. A divorce real estate specialist has been trained to act as a neutral third party, working for both sides equally and seeking a fair outcome for both.

Credit Score

Divorce can have a significant and sometimes catastrophic effect on a family’s financial situation. Divorcing spouses go from supporting one household to supporting two households and that can often bring a significant strain. Protecting the credit score of both spouses is critical since that credit score will determine the future finances of the family.

Home Ownership Eligibility

Preserving home ownership eligibility is really important for divorcing spouses. This means the profit on the sale of a house, the distribution of debt, and the credit score all have a big impact on whether someone can buy a house in the future.

Planning for the future and knowing whether one of the divorcing spouses can keep the house, whether the house needs to be sold, and whether one or both of the spouses have the option to buy a house {as opposed to renting} is part of the process that a divorce real estate agent will work through with clients. The goal is not only to help with the current situation but to prepare for future home ownership.

A team of people help with this component, including lenders and insurance agents, in order to ensure all bases are covered.

Complexity

Divorce listings are often more complex than other listings and the goal of a divorce real estate specialist is to handle each situation that arises, prepare the clients for the process, and obtain the highest possible price if the house is being sold.

Those are goals in any real estate transaction but they become more critical with a divorce listing and there’s more chance of unexpected situations arising. Those unexpected situations are already on the mind of a divorce real estate agent which means complications can often be thwarted early on or prevented altogether.

Any real estate agent can sell a house during a divorce but hiring someone who has a specialty in this area can really make a difference in the entire process. If you’re going through a divorce or know someone who is, I’d love to have a consultation to see how I can help. Click on the contact form link above and fill out the form or call, text, or email directly.