Guide to Selling Your Home after a Relationship Breakdown
Research shows that moving house and getting divorced are two of the most stressful things you can do. So, if youāre selling up in the wake of a painful split, you really are in the thick of it. Read on for some helpful advice on navigating the process.
Selling a home after the breakdown of a long-term relationship can be a daunting prospect that throws up a mix of emotions and challenges.
You may be sorry to say goodbye to your home but eager for a fresh start. Or keen to stay put but unsure of the financial practicalities.
Whatever your situation, thereās a lot to sort out and some big decisions to make. But you donāt have to figure it out alone.
Here at Allen Residential, weāve helped many clients sell a home in the wake of a divorce or separation.
Weāve compiled this simple explainer to help you understand whatās involved.
Legal advice
Youāll need a good lawyer to explain the process and answer questions specific to your situation ā for example, what happens if children are involved, or one party wants to buy the other out. Most lawyers recommend staying in the property until the settlement is finalised. If you feel itās imperative to move out, seek legal advice first.
Mortgage considerations
Tell your lender that things have changed. Sometimes itās possible to negotiate a mortgage holiday but only stop making repayments if your lender has agreed to the change.
Speak to your ex
Okay, this one can be tricky, and sometimes, itās not feasible. But to get the sale moving, youāll need to agree on an agent and selling price and then prepare the property for sale. If the two of you canāt talk it out, consider using a mediator.
Select an estate agent
Tempted to get things done and dusted quickly by using a quick sale company? Donāt! Hold your nerve. Theyāll knock you down on the price in return for a speedy deal. Instead, get three valuations from traditional estate agents and choose the one that impresses you most. Youāre looking for professionalism, market insight and people skills (they might come in handy later!).
Moving preparations
The next steps can be draining, so enlist a friend or family member for support. Once youāve accepted an offer, divide your possessions with your ex-partner and prepare for the removalists. If youāre squabbling over who gets what, try and compromise or sell the item and divide the money evenly. Emotions can run high at this particular point but remain focused on the end goal ā starting the next chapter of your life.
If you have any more questions, donāt hesitate to get in touch with us at Allen Residential on 01761 412 300. Weāre here to help.
