Selling a Home After Divorce

 Posted on July 18, 2012 in Divorce

It's no secret that divorce is one of the most difficult things that a person can go through in his or her life. In fact, divorce is consistently rated as either the first or second most stressful event in life—sometimes more than even bereavement. Part of this is all the paperwork and administrative stress that goes with the emotional stress of a divorce. Selling a home is among these complicated processes that divorcees have to wade through.

Many couples going through a divorce decide that one party gets to keep the house, especially if there are children involved. This can be an easier situation. In many divorces, as Deborah Innocenti, a real estate agent in New Jersey told the Chicago Tribune, "listing the home becomes another huge symbol of their losses," which can lead to not only increased emotional stress but financial stress as well. Yet many couples cannot afford to pay a mortgage on a house meant to be paid by two working adults, and thus selling the house is the only options.

If you're going through a divorce and considering putting the house on the market, there are several things you should think about:

• Deciding when to put the property on the market—it's important to weigh the market and wait for an opportune time, but also to consider how long you can realistically live with your ex and how emotional it could be to do so
• Deciding how to price the house
• Deciding with whom kids will live
• Deciding (before listing) what percentage of proceeds will go to which partner

Selling a house isn't easy under normal circumstances. While going through a divorce, selling a home is incredibly difficult. Take your time, and consider your options. These are issues too that a divorce lawyer can help with. If you or someone you know is going through a divorce, don't go through it alone. Contact an experienced Chicago-area divorce attorney today.

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