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C&G’s Guide to Selling After Divorce
Divorce is an emotionally stressful time and dividing your shared assets can be an equally challenging experience. When it comes to the family home, you may consider selling if neither spouse wishes to stay. In this C&G blog, we list some factors to consider when navigating this process.
Pick an agent
Seek out an agent who can remain impartial and focus on achieving the best possible price for your asset. If you were content with the agency who initially helped you purchase the house, you can request their services again if they are available. DivorceNet also suggests asking a relative or friend to pick an agent if you find yourselves disagreeing. Ideally, you’ll select an agent who you’re comfortable communicate with to best ensure they are equal parts understanding and proactive about your reasons for selling.
Agree on an asking price
Your agent will be able to conduct a market appraisal and provide advice regarding the asking price for your asset.
Preparing for an inspection
Your home will need to make an impression to prospective buyers, especially if you want the highest possible return on your investment. You may need to decide if you will work together on the potential upgrades and maintenance fixes that are required, or leave it to the agent to organise professional staging. This will also depend on whether you or your spouse are still residing in the home, or you have both moved out.
Often, the approval of an offer is a joint decision between you and your partner. Common disagreements may include one person wanting to accept while the other chooses to wait for a higher offer. In situations like these, your agent will provide advice on whether the offers received are reasonable, however they are not a mediator. You may look elsewhere for expert mediation. Your agent will have a better understanding of the market conditions in your neighbourhood and how your numbers compare to surrounding properties.
Dividing the sale
Some couples will agree to split the sale into equal parts, while others have different arrangements depending on factors such as children’s arrangements. You may have to consider seeking legal advice or the Family Court of Victoria can determine a fair division of your assets.
Before you start the selling process, do not hesitate to contact the team at C&G should you have questions or concerns. Our sales team are seasoned experts with years of experience and can help you navigate the selling process.