As I discussed in my previous blog Divorce and Real Estate : An Unfortunate Combination, it is critical for divorcing couples to engage a realtor from the outset. Engaging with an agent who has assisted several couples previously through this process is just as, if not more, important to reaching a resolution.
Often the agent assumes several roles for their divorcing clients: mediator, financial adviser, as well as a real estate professional. Since the primary residence is often the largest asset within the community property, there are several aspects to be considered.
First, should the house be sold? That decision isn’t as straightforward as it may seem. Is the home considered joint property? What are the financial resources of the divorcing couple? Are there school aged children involved? If so, might it make more sense for the custodial parent to remain in the primary residence for the foreseeable future? Of…
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