Selling a Home During a Divorce: A Step-by-Step Guide
Step 1: Understand Your Legal and Financial Obligations
Review Your Divorce Agreement or Court Orders
Determine if the court has issued specific instructions regarding the sale and clarify how the proceeds will be divided.
Establish Communication with Your Realtor
Choose a neutral and experienced real estate agent. Decide how decisions will be made—jointly or by one spouse.
Address Mortgage and Ownership Details
Confirm how the mortgage will be handled until the home sells and discuss refinancing or buyout options.
Step 2: Determine the Home’s Value and Pricing Strategy
Get a Professional Home Valuation
Your realtor will conduct a Comparative Market Analysis (CMA) to determine a fair listing price.
Agree on Pricing and Marketing
Set a realistic price based on market conditions and discuss necessary repairs or staging.
Step 3: Prepare the Home for Sale
Determine Who Will Handle Preparation
Decide who will coordinate cleaning, repairs, and showings.
Keep the Sale Neutral and Professional
Remove personal items that may create tension and avoid disclosing the divorce in the listing.
Step 4: Listing and Showing the Home
Finalize the Listing Agreement
Both spouses must sign the contract with the realtor, covering commission, contract length, and marketing plans.
Set Showings and Open House Schedules
Work with your realtor to create a showing schedule and consider using a lockbox.
Step 5: Review and Negotiate Offers
Consider Each Offer Carefully
Both parties should review offers and work with the realtor to decide on counteroffers.
Address Disagreements Early
If spouses cannot agree on an offer, consult your attorney to avoid delays.
Step 6: Navigate Escrow and Closing
Handle Legal and Financial Details
Work with your attorney and realtor to ensure mortgage payoffs, taxes, and fees are properly settled.
Coordinate Signing and Closing
Spouses can sign closing documents separately to minimize conflict.
Step 7: After the Sale
Finalize Financial and Tax Matters
Keep records of the sale for tax and legal purposes.
Plan for Your Next Move
Work with your realtor and financial advisor for future real estate needs.
Final Thoughts
Selling a home during a divorce requires coordination between your attorney, realtor, and financial professionals. Staying informed and making decisions based on facts rather than emotions will help complete the sale efficiently.