Divorce and Real Estate

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There are instances of financial feasibility for one partner to maintain the residence. This is generally a particularly sought scenario when children are involved. It is very important to project ahead from a budgetary perspective in this scenario as the monthly nut will most likely increase due to taxes and other fluctuating expenses. Often the marital residence needs to be sold in order for both partners to secure separate residences within adjusted budgets.

The choice in representation for sale can vary, most often depending on whether the divorce is amicable or contentious. The more amicable, the better for the parties, their finances and if there are children involved, absolutely better on the kids to be amicable, but back to real estate. If there are trust issues, each partner may want their own realtor representation. In this case, a co-broke with two agents could be considered.

IMHO, two separate listing agents is not the most ideal and can create sticky if they are hired independent of each other. As in any other profession, colleagues don't always work smashingly with one another. Who handles any open houses? Photography? Marketing? Negotiations? These decisions can be very smooth if the realtors have synergy and respect each others time and strengths. If not, not so much.

If the parties can find a place of trust in a singular representative realtor, it can be the overall smoothest experience in otherwise turbulent waters. It is important to carefully consider a professional that understands the interests and needs of both parties and is sensitive to the children's experience (if there are children involved) with experience to successfully transition all in a space of feeling fairly represented and understood.

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Video from our trip to Iceland this past summer. Such an amazing place.

Sandra "Sandi" Park
Associate Real Estate Broker
Global Luxury Specialist

#divorce#realestate#nyrealtor#realestatetips #nyrealestate #hudsonvalleyrealestate
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