I have found that one of the largest decisions divorcing couples are faced with is what to do with the marital home. There is clearly not one right or wrong answer. Many factors need to be taken into consideration. In my experience emphasis is centered on two areas: Children and Finances.
How are children affected?
The ages of the children are critical to making a decision to stay or go. High School age children may have been in the same school district and sporting activities for years. Younger children may or may not experience significant difficulty with a change of location. In either case, careful thought needs to be given to the sale of the property and the choice of location for the future home. The objective is to establish Two Happy & Healthy Homes.
How are finances affected?
Financial components need to be considered in the process of deciding to retain the property. Refinancing the mortgage may result in a higher monthly obligation for the spouse remaining in the house. In addition, the maintenance and repairs will consume a higher average of a single income. A simple solution may be to liquidate the equity and choose two separate properties that are easily managed on a single income.
How can an experienced real estate agent help?
An experienced real estate agent who has been trained, and specializes in marketing and communicating with each spouse is vital to the success of all parties involved. This agent understands the unique challenges of listing a house during the time of divorce.
Divorce listing agents are used to the communication breakdowns and understand that explanations are necessary at each step of the transaction to help resolve any issues a client may be facing with the sale. The agent will aim to get the property sold as soon as possible enabling the divorcing partners to move on to the next step of life. The agent knows the process of obtaining the highest amount of money, with the best terms in a reasonable amount of time.
A collaboratively trained divorce real estate agent understands methods of communication between spouses and is capable of using these skills to reduce stress. The agent is capable of navigating uncomfortable conversations that are necessary between spouses and their attorneys.
In the end, the formation of future homes and financial health for each spouse can be obtained by carefully analyzing the real estate decision with competent professionals.
About Pat Wise-Strehle
Pat’s mission is: Two Happy and Healthy Households!
Patricia Wise-Strehle is an Associate Broker with Keller Williams Newtown. Pat has been servicing the needs of her clients for over thirty-five years in Bucks, Montgomery, and Philadelphia Counties. The foundation of Pat’s practice is based on the highest level of excellent service.
Pat is certified in the Collaborative Divorce Progress. She has an established technique based on respect and guidance for each partner in the process of divorce. Based on clients’ choices she will work jointly or individually with divorcing spouses to obtain their end goal.
Pat has been appointed on court-ordered real estate sales. Pat has highly developed communication skills enabling her to converse with attorneys, financials, accountants, and mental health professionals.