Selling a house during a divorce is complex.
So, many people leave the marital home before divorce to escape the stress.
But there can be consequences to this.
In this blog, we’ll explore these and potential solutions.
Tips when selling a house during a divorce
1. Consult your solicitor
Start by consulting a solicitor. One specialising in family law and property division.
They can guide you on your rights and obligations.
2. Hire an estate agent
A good estate agent should have experience dealing with divorce sales.
They can help you with:
- Marketing
- Managing viewings
- Negotiating with buyers.
3. Communicating with your ex-partner
Maintaining open communication with your ex-partner reduces misunderstandings and conflicts. This increased the chances of a successful sale.
Work with them to:
- Agree on asking and selling price
- Improve your property’s curb appeal
- Staging.
Using a mediator
Many people can’t cooperate with an ex-partner.
This leads to some trying to force ex-partners to sell a house, for example.
In these situations, consider enlisting a neutral third party. This could be a mediator or a mutual friend.
Why moving out during a divorce could be a BIG mistake
Moving out of the family home during a divorce may seem like a good idea. But it can have legal and financial consequences.
Abandonment
Leaving the marital home could considered abandonment by legal professionals.
So, it may impact your claim to the property and other assets.
Weakening property claims
The person who moves out may have a weaker claim to the property during the division of assets.
Short to medium-term financial impact
Another factor to consider is the financial impact of moving out.
Renting a property whilst paying a mortgage is difficult. It can strain your budget.
Does it make a difference if we have children?
Moving out during divorce can have more significant consequences if you have children.
It might impact your claim to the family home.
It can affect your relationship with and claim to primary custody with your children.
It’s essential to prioritise your children’s well-being during this challenging time. Work with your ex-partner to create a stable and nurturing environment for them.
If you do decide to move out, it’s crucial to establish a clear parenting plan, including:
- A schedule for parenting time
- Decision-making authority
- Communication protocols.
Work with your ex-partner and a family law solicitor to do this.
Does it affect my chances if I move out when we aren’t married?
Moving out during separation can still have implications for unmarried couples.
In the UK, unmarried couples who live together do not have the same legal rights as married couples.
But there may have been significant contributions, such as:
- Paying the mortgage
- Maintenance work
- Making improvements.
In that case, someone may claim a share of the property’s value. But moving out may weaken this claim.
Other agreements
In some cases, unmarried couples may have a cohabitation agreement or a deed of trust. These outline their respective interests in the property.
If such an agreement exists, it might clarify property division in the event of a separation.
But if no deal is in place, you may need to rely on property law and equity principles.
Cash house buyer when selling during a divorce
When selling a house during a divorce, you may consider a cash house buyer.
It’s essential to first examine the pros and cons.
Pros
Speed
Cash house buyers offer a the fastest sale process. This is because they have the available funds and do not need to secure a mortgage.
This can be beneficial if you need to sell the property to move forward with the divorce settlement.
Cons
Lowered sale price
Cash house buyers often buy properties at a discounted price.
So, you receive less money from the sale than you would through a traditional estate agent.
It’s crucial to research the company first. Unfortunately, not all cash buyers are legit and can make misleading claims.
But good cash buyers do exist.
