Divorce is stressful as couples struggle with multiple issues besides the emotional trauma of the separation itself. Child support, custody, alimony, and settlement are the ones you tend to worry about the most. Things can get even more complicated for couples with joint assets. Division of assets can lead to disputes, so it makes sense to limit complications. The best way to handle a joint property is by selling it and dividing the proceeds. But you must follow some legal tips to ensure a hassle-free process. Here is the best legal advice to follow while selling a property during divorce.
Research your options
Experts recommend researching your options before going ahead with the selling process. Resolving the issue amicably should be a priority because you may already have a lot to deal with during the divorce process. The last thing you want to face is a battle for asset division. You may sell and divide the proceeds or transfer the house to one of the partners for financial consideration. Consider options and weigh their pros and cons.
Get a good price
Although you may want to seal the deal fast, you should not settle for the first offer. Divorce attorneys suggest that couples collaborate when selling a joint property because it will get them the best price. Buyers will quote low if they know about an ongoing dispute. Do your due diligence, find a lucrative deal, and close it together at an optimal price for mutual benefit.
Seek expert advice
Home selling is complicated, and the challenge goes a notch above when divorce comes into the picture. You may not need a lawyer at this stage, but having a conveyancing solicitor handling the process definitely helps. Look for a conveyancing quote from an expert to find the best professional for the job. They will look after the details like paperwork, searches, mortgage closure, and more. So you can take care of other aspects like finding a good deal and closing divorce formalities.
Agree on the split of funds
The final stage is the split of funds after selling the property. It is the key phase where disputes are likely to happen. It makes sense to seek an amicable agreement regarding the division of sales proceeds. Consider factors like child custody and alimony at this stage because one partner may deserve a larger share in such circumstances. Your divorce lawyer is the best person to suggest an ideal solution if there is a deadlock.
Although you must settle for the best price of the property, closing the deal should be a priority. The sooner you sell the house, the faster you can put the past behind you and rebuild a happy life. Consider property selling a key part of the divorce process, and do your best to wind it at the earliest. The best way to do it is to agree on valid points and onboard experts to show the way.
Divorce is a potentially intense situation, and it is seldom possible to see the big picture amid the separation. But selling your joint assets is the first step toward closure. Follow these legal tips to do it quickly and easily.