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Home sales during divorce

On Behalf of | Mar 19, 2019 | Divorce

Homeowners in Kansas who are getting a divorce may decide along with their future ex-spouse to sell the family home during the divorce. This solution is a common one among divorcing couples who have to address what will happen to the home. However, before they take any steps to sell the home, it is important that both parties understand that selling a home during a divorce is not the same as a traditional home sale.

Having the right real estate agent is an important factor in selling a home during the divorce process. The agent should have some experience with selling during a divorce as it will be necessary to know how to avoid being dragged into the conflict that can be common among divorcing couples. The right agent will also know that it is unwise to choose sides between the two parties and that providing objective selling advice is the main priority.

Divorcing couples may be surprised to know that there are multiple advantages to selling their home during their divorce. The money that is earned from the home sale can be used by both parties to restart their lives after the divorce. They may even be able to invest in a brand-new home if they like.

It is also the ideal time to address any other joint financial issues they may have. Many couples tend to have joint debts, including credit card balances and loans. In many cases, there is also the division of pension and retirement accounts that has to be addressed.

A divorce attorney may work to protect the rights of clients during disputes about how to divide marital assets. The attorney may evaluate the client’s desired settlement terms and litigate to have portions of high-value real estate and financial accounts given to a client.