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Selling residential real estate as part of divorce is common

Selling a house in New York can understandably be a stressful process. However, doing so as part of a marital split-up can be especially challenging. Unfortunately, divorce is a common reason for people to sell their residential real estate.

Recent research indicated that the family residence ends up being sold in more than 60 percent of marital split-ups. In some cases, one of the spouses is in a financial position to buy his or her future ex out. However, this is not a possibility in many situations.

When selling during divorce, emotions may naturally run high. However, an important first step when going through the sale is for both spouses to discuss their responsibilities and goals with their real estate agent. For instance, perhaps one of the spouses can serve as the main point of contact with the agent and then relay important information to the other spouse. This can help with streamlining communication and decrease the amount of conflicting information that the agent will have to confront. In addition, the couple may want to avoid involving the real estate agent in their personal conflicts, as this can distract the agent from the task at hand: selling the house.

With the right preparation and approach, a couple can walk away from the sale of their residential real estate property with the maximum amount of money possible. Still, even a seemingly minor mistake can spell major problems during the sale of a home. An attorney can help to ensure that one's best interests are protected when selling a house in New York.

Source: realestate.boston.com, "Ask the Realtor: Tips for selling your home during a divorce", Marjorie Youngren, Dec. 21, 2017

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