A home sale can be difficult in the best of times, but troubles are compounded when the transaction involves divorcing sellers.
Some Realtors have made a niche for themselves by obtaining professional certification as a divorce real estate expert. As part of their training these agents know how to diffuse emotional tensions that can lead to bad decision-making, though problems can still arise if the agent has personal ties to the couple.
Often, the biggest problems stem from lack of communication between the sellers. In some cases, one spouse wants to sell but the other does not.
When a couple entering or undergoing a divorce decides to put their house on the market, the first step is to have the residence appraised, and the second is to give one spouse power of attorney to determine what happens to the property. A separation agreement can help, as it will detail which spouse has what responsibilities – including upkeep and repairs on the property.
Most importantly, agents say it is critical not to let potential buyers know that a house is on the market because of a divorce: Doing so can lead to low-ball offers.