Timing can be impactful when making a divorce-related home sale
One asset that can be a very challenging one in a divorce property division is the family home. One reason for this is that, as an asset, a home raises a variety of unique financial, liquidity and even emotional issues.
There are many different ways a family home could be dealt with in a division of property. One way is to sell off the home and for the proceeds from the sale to be divided between the two divorcing individuals, with the specifics of the division of the proceeds being governed by either an agreement by the parties or a court decision.
One of the challenges that can arise when using this method for dealing with a home in a divorce property division is getting a good price for the home when selling it.
One thing that can impact what sort of price a home fetches is when the home is put on the market. There are certain times of the year that can be a better time to put a home up for sale than others.
What is the best time of the year to put a home on the market? In a recent Fox Business article, a realtor pointed to March and April as being among the best months, generally, to put a home up for sale. Of course, this is just a general trend. Different regions could experience different trends regarding what times of the year are the best for trying to sell a home.
The important point to note is that timing can be important when selling a home as part of a divorce property division.
Timing is one of many factors that can have an impact on how selling a home in a divorce would go. Other things include economic factors related to the area the home is in.
Factors that could affect the ability to sell a home for a good price are among the many things it can be important for a divorcing individual to keep in mind when trying to decide what approach to take when in negotiations over what to do with a family home in a divorce. When in such negotiations, it can be very helpful to have the guidance of a skilled divorce attorney.
Source: Fox Business, “How to Sell Your House During a Divorce,” Serena Elavia, Oct. 21, 2015