Guiding families through all aspects of divorce in North Carolina

Attorneys at Raleigh Divorce Law Firm

What if you decide to sell the family home in divorce?

On Behalf of | May 31, 2023 | Divorce |

Even if it is feasible to keep the family home, spouses facing divorce may not wish to do so. There may be many reasons behind this decision, but that is not the end of it. Divorcing spouses must then embark on the journey of selling their North Carolina home.

What steps must you take?

There are many factors to consider and steps to take when selling a house. To name a few, it is essential to:

  • Make any necessary repairs
  • Obtain an appraisal to value the home
  • Determine the asking price
  • Prepare for showings

You and your soon-to-be-ex-spouse will have to coordinate on these tasks. It may not be easy to work with your spouse on this process during a divorce, so you may wish to consider options such as mediation to help you negotiate and reach decisions through the entire process of your divorce.

You must consider finances too

Of course, there are also the financial factors of selling a home that you and your spouse must understand. There are tax matters to address, as well as fairly dividing the profit from selling the home. After all, the family home is often one of the largest marital assets.

Time: The most important issue

Timing is a significant factor in any real estate deal. You must consider the market as a seller and buyer. However, you should also consider your own stress levels.

Selling a home can be an extensive and intensive process. You do not want to overwhelm yourself with this process and risk a mistake while going through the process of divorce. It is often beneficial to figure out a strategy with your spouse for how you wish to move forward with the sale in the most efficient manner.