1 Reason Insurance

Leadership Through Service

  • About
    • Meet Our Agents
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance Application
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact 1 Reason Insurance
    • Contribute As Guest Author
Home > Real Estate News > What You Should Know About Selling a House During a Divorce

What You Should Know About Selling a House During a Divorce

Posted on: April 22, 2020 By: B B McWeinstein


While divorce rates appear to be slowing slightly in America, it is still a major social challenge, with statistics such as those from Survive Divorce indicating that millions of Americans get divorced every year. Divorce is a difficult enough process under the best of circumstances, but it can be even more complicated if you are trying to sell your home as a result of the divorce. This adds a major degree of stress and a burden to everyone involved. As such, here are three things you should know when it comes to selling a home during a divorce.

Don’t Advertise Your Situation

It can be tempting to become friendly with someone interested in your home or discuss the issue publicly, but if you can, don’t advertise that you are selling the home because of a divorce. Someone who is interested in buying it may then assume that you are eager or desperate to sell the home and may thus offer you a lower amount of money than you actually deserve. As such, it is important that you keep the reason that you are selling the home as close to the vest as possible. According to House Cashin, it’s also important to make sure that you get your house appraised so that you know how much you deserve for your home and don’t get ripped off.

Splitting Property

Make sure you fully understand the local and state laws surrounding the disposal of the property when you are in the middle of a divorce. According to James A. Jackson, some states such as California are community property states, and couples going through a divorce must split the liquid assets from a home sale equally. Other states have no such laws, thus leaving it possible that other circumstances could determine who gets what money, such as a court order or the amount of income that each couple makes.

Talk With Your Lawyer

Above all else, make sure you discuss the issue with your attorney. You don’t want to spend a dime on repairs for your home, or potentially receive any money from the sale, without first reviewing it with a legal professional. You need to make sure that everything you are doing is in line with any existing legal arrangements and confirm that you aren’t inadvertently doing anything that can put your soon-to-be-ex-spouse in a better legal position at a later date.
Divorce can be a hard, painful situation. Selling major assets—like a house—can only add to that complication and pain. That’s why it is so important that you move carefully and in consultation with the experts. Doing so can help smooth out the process and get you the most money possible.
 

Categories: Real Estate News

1Reason Agencies

What clients have to say:

Mike T. "I started a business last year and Robert responded to my inquiries immediately, and was extremely helpful and knowledgeable as to the type of insurance coverages I would need to get started. Now its been a year and he now carries All of my coverages! Absolutely the most hands on agent I've ever worked with but hands down the friendliest! I can call him anytime and never feel rushed and not only that but he responded while on a family vacation. I believe in relationships in business and so does Robert by the way he treats his customers. I have a true friend in the business, thank you Robert!"


Lynn R. "Bob is very knowledgeable and has always done a great job explaining different aspects of coverage. He is very accessible and looks out for what is best for the consumer. We highly recommend him!


Justin T. "Excellent agent, always available for answers to insurance related questions. Bob, is the person most people strive to become. Without a doubt, a great person!"


Sebastian T. "I can not begin to tell you how pleased I am with 1 Reason Insurance ! Their responding services is friendly and complete. For the services my company offers to the public it is sure nice to know that we are covered for a reasonable fee. Just having (1 R I ) 1 Reason Insurance there is such piece of mind ! Their insurance plans are strait to the point and easy to understand.
Thanks for the great service 1 Reason Insurance !"


Jeff H. "Very nice and cares about the customer! He was literally the reason why i chose him over other companies for my insurance"

Categories

  • Bonds
    • Performance Bond
  • Bookkeeping
    • Business Taxes
  • Business Marketing
    • Webhosting
  • Car Insurance
  • Commercial Auto
  • Commercial Insurance
  • Court Cases
  • Cyber Liability Insurance
  • Employment Opportunities
  • Employment Practices
  • Flood Insurance
  • Home Ownership
  • Homeowner's Insurance
  • Insurance Companies
    • Insurance News
  • Insurance Terms
  • Investing
    • Finance & Insurance News
  • Life Insurance
  • Non Emergency Medical Transportation
  • Payroll
  • Pinewood Derby
  • Real Estate News
  • Rental Property Insurance
  • Retirement & Estate Planning
  • RV Insurance
  • Starting A Business
  • Stock Dividends
  • SuiteCRM Insurance CRM
  • Tips & Advice
  • Travel
  • Uncategorized
  • Worker's Compensation

Recent Posts

  • Using ChatGPT Can Help Your Business Grow By Helping You Write SEO Friendly Content For Your Website
  • Buying Homeowners Insurance In Wisconsin
  • Starting a Michigan Taxi or Non Emergency Medical Transportation Business Is Expensive Because of Regulations
  • Armada Hoffler Announces Quarterly Dividend
  • LGI Homes Reports October 2022 Home Closings
  • Regency Centers Reports Third Quarter 2022 Results
  • Global System Dynamics, Inc. Announces Sponsor Funding of Initial Three-Month Extension to Complete its Initial Business Combination
  • Opendoor Announces Third Quarter of 2022 Financial Results