When your marriage ends, your relationship status is not the only thing changed but everything related to it is also under the potential of changing. Your house is not an exception, considering its value, it even becomes the heart of property matter in divorce negotiation according to family lawyers in Adelaide. So, what are the best things you can do with your property settlement in a divorce case?
To sell or to keep your home after divorce?
This is the first and foremost decision that you should make about your house.
On the one hand, it is a common struggle that one or both of you want to keep it to avoid unwanted hurt to your vulnerable kids or because of emotional attachments to that memorable place. However, bear in mind the following questions before changing the house to sole ownership when divorce:
- Who keeps the house?
- Can he/she financially afford expenses related to the house such as monthly mortgage payment, maintenance, property taxes,…?
- Does the other party need to fulfill any responsibilities to the house though he/she is not there during or after the divorce or separation process?
On the other hand, if you both share the decision of putting your house on sale, our most competent Adelaide family lawyers’ advice is to assume all possible scenarios before, during, and after-sales and discuss with your solicitor:
Before sale: Who is responsible for getting the house market-ready?
During sales: Is the house left empty or who is going to live there while it’s on the market? What if the house has problems during the separation and is not yet sold?
After-sales: How tax and other fees applied to your property? How to split the profits after sales – 50/50?
Evaluate your house value at the local and national market
Approximate evaluation of your home when property settlement following divorce is the first step whether you want to sell or keep it. Go on to make your own real estate market analysis and discuss it with your partner to achieve a mutual agreement of the house’s value. If you two can’t make a reconciliation this way, reach out for an expert who can be appointed by the court or jointly nominated by you and your partner. In the end, a favorable number for your home value is what is needed.
Consult with your family lawyer about the divorce property sale
If you have the intention of selling your property, make an expectation of how long the sales might take as well as a reasonable prediction of a sales price (including selling fees such as intermediaries, listing on real estate platforms,…). In case you can’t achieve the highest apprehension of the work due to other stressful issues, seek out your family lawyer’s help. They can keep you realistic with statistics, connect with reputable real estate agents to achieve the best sales.
Have Dev Smith Nguyen Lawyers by your side
Many divorce lawyers at Dev Smith Nguyen Lawyers are also experts in dealing with real estate properties in family-related issues in Adelaide. We understand your concerns during this sensitive period and definitely do our best to wipe out your worries about divorce.
