SELLING YOUR HOME DUE TO

Divorce

If you’ve landed up on this page you are either considering a divorce or are in the process of one and you want to know what to do with the house. The benefit of listing your home due to divorce is that both spouses usually get some money to help start over and give you both a clean break.

Selling Your Home Due to Divorce

If you’ve landed up on this page you are either considering a divorce or are in the process of one and you want to know what to do with the house.  The benefit of listing your home due to divorce is that both spouses usually get some money to help start over and give you both a clean break.

If you are selling your home due to divorce there are several things to consider.

Real Estate & DivorceChoosing a REALTOR®

Divorce is usually a very draining, emotional process.  Adding the sale of your home is another huge stress that you don’t need to take on during this time, so it is wise to choose an agent who can help you.  Using the same agent that sold you your house may be able to help or refer you to a listing specialist.  Referrals from your friends who have had a good experience with a REALTOR® is another option or simply fill out the form on the right and we’ll be in touch.

Asking Price

This is where it’s best to let your REALTOR® go to work for you, avoiding any conflict between you and your spouse on an asking price.  Using market analysis reports, neighborhood comparisons, and recently sold home pricing, your agent will be able to share with you what they know is top value for your home.  Going off generic internet generated reports are often misleading and can lead to false expectations.

Preparing Your Home to Sell

This may be the most difficult part of the sales process but don’t get discouraged.  One step at a time and your home will be in tip-top shape and ready to be shown.  It is best to declutter as much as possible removing any knick-knacks on shelves, photo’s off the wall and extra furniture.  This can be a very emotional time, especially during a divorce.  It may be best to get professionals to come in and stage the home for you.  Minor repairs and some painting often needs to be done as well.  You and your spouse will need to agree on who will be paying for what expense and how they’ll be compensated in the end.

Reviewing Offers

Your agent will present any offer to both parties and ultimately, you’ll have to decide together on whether you accept or decline the offer.  It is important to come together to discuss the offer as quickly as possible, especially in a market where homes are selling quickly.  So, decide ahead of time the best way to communicate during this process.

Sale Proceeds

Don’t be fooled to think that you can just sell your home and split the sale price between both parties.  Before the proceeds can be divided, your existing mortgage will need to be paid off, any equity line or second on the home will need to be paid, along with the broker’s fees and any capital gains tax that may apply.  Once these expenses have been paid, you can then decide on how to divide the remaining balance.

Dividing the Cash

Once the sale is complete and escrow has closed, you’ll need to divide the proceeds.  The escrow company can distribute the money to any obligations on the house or other payments you’ve agreed to, such as, to pay off marital debts.  They will then also distribute the remaining balance to both parties.  Keep in mind that if one party has been solely making the mortgage payment for the past year during the separation period, they should be compensated for the principal amount paid toward the loan, which may increase the amount divided between spouses.

If you’ve landed up on this page you are either considering a divorce or are in the process of one and you want to know what to do with the house.  The benefit of listing your home due to divorce is that both spouses usually get some money to help start over and give you both a clean break.

If you are selling your home due to divorce there are several things to consider.

Real Estate & DivorceChoosing a REALTOR®

Divorce is usually a very draining, emotional process.  Adding the sale of your home is another huge stress that you don’t need to take on during this time, so it is wise to choose an agent who can help you.  Using the same agent that sold you your house may be able to help or refer you to a listing specialist.  Referrals from your friends who have had a good experience with a REALTOR® is another option or simply fill out the form on the right and we’ll be in touch.

Asking Price

This is where it’s best to let your REALTOR® go to work for you, avoiding any conflict between you and your spouse on an asking price.  Using market analysis reports, neighborhood comparisons, and recently sold home pricing, your agent will be able to share with you what they know is top value for your home.  Going off generic internet generated reports are often misleading and can lead to false expectations.

Preparing Your Home to Sell

This may be the most difficult part of the sales process but don’t get discouraged.  One step at a time and your home will be in tip-top shape and ready to be shown.  It is best to declutter as much as possible removing any knick-knacks on shelves, photo’s off the wall and extra furniture.  This can be a very emotional time, especially during a divorce.  It may be best to get professionals to come in and stage the home for you.  Minor repairs and some painting often needs to be done as well.  You and your spouse will need to agree on who will be paying for what expense and how they’ll be compensated in the end.

Reviewing Offers

Your agent will present any offer to both parties and ultimately, you’ll have to decide together on whether you accept or decline the offer.  It is important to come together to discuss the offer as quickly as possible, especially in a market where homes are selling quickly.  So, decide ahead of time the best way to communicate during this process.

Sale Proceeds

Don’t be fooled to think that you can just sell your home and split the sale price between both parties.  Before the proceeds can be divided, your existing mortgage will need to be paid off, any equity line or second on the home will need to be paid, along with the broker’s fees and any capital gains tax that may apply.  Once these expenses have been paid, you can then decide on how to divide the remaining balance.

Dividing the Cash

Once the sale is complete and escrow has closed, you’ll need to divide the proceeds.  The escrow company can distribute the money to any obligations on the house or other payments you’ve agreed to, such as, to pay off marital debts.  They will then also distribute the remaining balance to both parties.  Keep in mind that if one party has been solely making the mortgage payment for the past year during the separation period, they should be compensated for the principal amount paid toward the loan, which may increase the amount divided between spouses.

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Greg Davis

Greg Davis

Designated Broker/Owner, CRS, GRI, 5 Star REO Certified, RES.NET Certified, Equator Platinum REO Certified

(208) 250-0132

todaysbroker@gmail.com

With over 18 years of experience, Greg Davis is the Treasure Valley’s “Go to” agent and a consistent leader with a reputation for tenaciously protecting his clients’ interest.  Savvy negotiations and cutting-edge marketing strategies join uncompromising integrity as the hallmarks of Greg’s service.   Greg is exceptionally well-respected in Boise, not only for his unparalleled professional track record and being an honest, hard-working family man who does absolutely everything in his power to ensure his client’s success.

In addition to real estate, Greg loves people!  His passion for building relationships and delivering stellar service to his clients are his top two priorities.  His motto, “Honesty Before Advantage” makes every transaction a “Win Win” for all parties involved.

Beyond his love for real estate, Greg is also a dedicated family man.  He loves to travel with his family and has been to Disney World more times than a grown man should be willing to admit.  Greg has also served on short-term mission trips to Indonesia, Haiti and Ecuador with Mission Aviation Fellowship.

Thanks to his exceptionally loyal clientele, personal referrals and repeat business are the foundation of Greg’s career.  To ensure efficient, complete service for you, Greg’s associates have been carefully selected from the very finest contractors in the business to form a close-knit “family” offering seamless assistance for every aspect of your home purchase or sale.

Please call Greg anytime without obligation.  He is ready to work for you today!

Experience

  • 1994 -2000 worked in sales at a startup software company. In 2000, the company sold for millions of dollars.
  • 2001 became an Idaho Realtor while waiting out a 2 year non-compete clause in the Microsoft Arena.
  • 2003 became an Idaho licensed real estate broker
  • 2004 created two real estate companies
  • 2006 Sold one real estate company for high returns (Payette Mountains Realty)
  • 2008-2013 IMLS (Intermountain Multiple Listing Service) Board of Directors
  • 2011-2012 IMLS President of Board of Directors
  • 2015 – Sold other real estate company (Genesis Real Estate Group, LLC)
  • Present – Designated Broker / Owner of Rise Realty, LLC.

Expertise

  • Residential property sales including fine homes, condominiums, income properties and custom homes
  • Exceptional attention to skilled negotiations, knowledgeable analysis of property values and market trends
  • Expertise and renowned credibility in resolving difficult transactions

Designations

  • Licensed Real Estate Broker, State of Idaho
  • CRS – Council of Residential Specialist
  • GRI – Graduate, Realtor Institute
  • 5 Star REO Certificated
  • NET Certified
  • Equator Platinum REO Certified
Rise Realty, LLC