TheStapletonandKnopHomeTeamBlog.com: April 2011

Real Estate and Divorce: The Unfortunate Reality, and How to End Up OK!

Real Estate and Divorce: The Unfortunate Reality, and how to end up OK!

One of the worst parts of an economic downturn is the fact that marriages suffer. Divorce numbers tend to go up and for so many of families going through it, the blame is attributed to financial strain. Of course the process of divorce then adds to this problem for both parties after the fact. Whether it is amicable or contentious it is important as you go through the process to be getting good advice and planning properly. This can have both of you ending up on the other side of the dark tunnel in an OK place, financially, emotionally and literally.

Real Estate and Divorce

The Real Estate aspect of a divorce is number 2, behind the children, as the most difficult part of a separation and then divorce.

Do we need to sell the house

Keeping it quiet from nosy neighbors?

How and what can each of move to, to keep make it easier on the kids?

Is there a buyout involved?

What about our individual credit and buying ability?

These and many others, are the tough questions that are important to try to figure out as you both go through the process.

As a couple in a Real Estate team, The KnopHomeTeam has a lot of experience in helping couples and individuals through the mess. Some of the key points that we can help with as a husband and wife team are crucial to the process and making it as smooth as possible under the circumstances. For example:

1. The selling of the home is usually the biggest problems. The communication is tough already and when financial and emotional decisions are being made it is important for all to be heard but yet come to a compromising solution that help both sides in the long run. We can work as Co-advocates and give a united front to a buyer interested in the home.

2. Many times if the divorce is in the process but not final one party would be looking to move out and the other may stay. Using our referral pool of experts such as lenders and a divorce mediator we can help work with both parties and their attorneys to come up with a solution that actually can work to the advantage of both parties. Sometimes it's a buyout option, sometimes it's a refinance with a purchase now for one and the other live in, or a one buy now and one buy later plan and sometimes it's rent now buy later. All of these can either cloud or clarify a divorce decree if not done carefully.

3. Trust and discretion are the keys to picking the right Realtor. With the KnopHomeTeam, even something as simply as needing an awkward signature is made a lot easier. Both sides feel like they have an advocate and we can work both together on some things as needed and separately as needed but all with the same trust of not feeling like either of you are sneaking around away from each other. Our goal will be to try to come up with the best solution for both of you.

It is vitally important as you begin the divorce process to get advice on how to work through the Real Estate separation. The sooner you get ahead of it can make the difference in your credit, your ability to buy and the how you negotiate your divorce.

Please feel free to call the KnopHomeTeam and feel assured of meaningful advice, smart solutions, trust, discretion and reliability.

 

Damon Knop

KnopHomeTeam

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