How to Navigate a Divorce Amicably
Divorce is a difficult and emotional process that can be made more challenging when couples must divide their property and Real Estate assets. Nonetheless, it is possible to navigate a divorce amicably, ensuring that both parties get a fair share of the assets.
When it comes to dividing property, couples should first decide how to divide the assets, taking into consideration each party’s financial situation. This could involve dividing the assets evenly, or one party receiving a larger portion of the assets. As you think about this process, be sure to consider the following ideas:
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The most significant thing is for each party to offer transparency around their finances: clear is kind! To make sure you and your partner are both providing the most relevant information.
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It is critical to have an evaluation of your property and understand what the updated market value is at the time of divorce.
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Having an outside source besides your Zillow or Redfin estimate, from an experienced realtor in your particular market area is key.
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Know that you don't necessarily have to sell
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Sometimes you can buy somebody else out or come up with other creative ways of establishing agreements with amicable results.
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Both parties should consider the value of the property and the costs associated with managing it.
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If you do decide to sell the shared property, remember you don't need to advertise that it is because of a divorce
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Some may view that as a bit of a negative aspect of your home - working with an experienced realtor who has worked with many clients in similar situations will ensure that all of these details are considered and that the property is presented in a way that guarantees you will get the most value for it
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Try to think about your home as something that has cyclical energy
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When you can move on to your next home and start fresh that is a great feeling
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Honor and thank your home for what it gave you and allow it to provide it to someone else in its next "life"!
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Separate emotion from the deal by making peace with your chapter in your home and the idea of starting another one elsewhere.
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Ultimately, couples should approach the divorce amicably, considering both parties’ best interests when it comes to dividing the property and Real Estate assets. Both parties should be honest and open with each other and strive to come to an agreement that is beneficial to both. If couples can successfully navigate the process amicably, they can come out of the divorce in a better financial position and with a healthier emotional state.
