My House Is Worth What? A Balancing Act To Price A Home In Divorce
Posted by Mary Reynolds | Visited 6 times, 1 so far today |
In the ever changing San Diego real estate market it can be a challenge to accurately price a home for sale. Traditionally, Realtors have always used the “comps” as a guide, looking at the price of homes sold in the last year. But these days what sold last year at this time is possibly $10,000 to $20,000 or more less than it was last year.
It has become a true skill to price a home where it will sell quickly and before prices drop around it. If you are a seller that must sell now, you face a tougher road than in years past. However selling a home in divorce complicates the whole process even further. So often, in a real estate transaction in a divorce, one of the partners doesn’t really want to sell the home, and sometimes they will sabotage the process. 
Convincing that spouse to sell at a price lower than last year’s comps is a tough negotiation. It takes patience and detailed information. Spouses in divorce want to be sure they are getting what is fair. They want assurance that they will be able to live the same type of life they lived before the divorce, and want to get as much as possible from their investments so they can move forward in their lives.
When setting the price for sale of their precious home, it is very important to show not only the comps on a home, but how the sale of the home will benefit each spouse. Providing the sellers a look at their financial outcome from the sale is key. Showing the spouse that really wants to stay in the home that they will be able to move forward after the sale will keep emotions intact.
Sitting the spouses down together to discuss price isn’t always a good idea. Taking the time to sit with each spouse separately to discuss their options after the sale will allow the husband and wife to focus on themselves and their future. After all, putting the house on the market is such a final step in the divorce process and a sign that the split is really going to happen. After each spouse understands how they will benefit from the sale of their home, we can bring them together and discuss the price. Each spouse then has enough information to make a decision.
Working with divorcing couples in a Real Estate transaction takes patience, compassion and understanding. We do the homework ahead of time and plan on spending extra time with each spouse to assure them that we are doing everything in our power to make this transaction equitable, fair and as stress free as possible. Our goal is to ease our clients mind and help with the emotional turmoil that each spouse is feeling.
If you or someone you know is considering a divorce and you would like information and help, don’t hesitate to call or email me.
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