Tips on Protecting your Equity during Divorce
Divorce and Your Equity
Protecting your equity is always a good idea when selling especially when getting a divorce. When you are having the proceeds split in 1/2 it impacts the funds that you will have to buy your next home. Here are the steps that you can take to put the most money in your bank account.
Remove the Distressed Feeling
Do not start dividing and removing furniture and art from the home. Empty rooms and closets scream divorce. If you have empty closets, move clothes around so it is not obvious that a separation has happened. It is nobodies business of your personal situation and that information could financially harm you during negotiations.
Staging a Great Investment
Staged homes sell faster and for the most money. You can change the feel of a home by adding a rug, updating the light fixture and throw pillows. These are inexpensive ways to give the home an updated feeling without spending thousands of dollars.
If you can, step out for showings. This is always a good idea when selling however especially when the sale of your home is sad. It can be very hard to be enthusiastic about the sale of your home and you don't want the buyer to feel the tension. Divorcing couples rarely agree with that goal.
If you are home, be pleasant. A negative showing experience could cost you thousands of dollars.
Be sure to care for the Home
With all this going on, home maintenance is not typically on the top of the list however a buyer will deduct far more than a repair will cost in an offer. Also little issues become big issues when ignored.
Find Common Ground
If you’re occupying the home, cooperating with the plan can help you recover both emotionally and financially, faster. It could also cost you thousands of dollars if you don't. Look for ways to seek solutions (yes we know that is hard) however it really is in your best interest too.
How you handle the conflict during this time will influence how others around you will react. If you are wanting to protect your equity, we'd love to help you.
Just give me a call and we will create a custom solution for you. 561-352-3056.