๐—ฆ๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด ๐—ฌ๐—ผ๐˜‚๐—ฟ ๐—•๐—ฎ๐—ฟ๐—ป๐˜€๐—น๐—ฒ๐˜† ๐—ฃ๐—ฟ๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜๐˜† ๐——๐˜‚๐—ฒ ๐˜๐—ผ ๐—ฎ ๐——๐—ถ๐˜ƒ๐—ผ๐—ฟ๐—ฐ๐—ฒ

Selling Your Barnsleyย Propertyย Due to a Divorceย 

This three-minute read looks at the property-related issues thatย arise after a relationship breaks down.

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A survey of 2,000 Brits found that thereโ€™s only one thing more stressful than getting divorced โ€“ and thatโ€™s moving home.*

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Spare a thought then for people who sell their home when their long-term relationship ends. They find themselves dealing with two of lifeโ€™s most challenging moments at the same time.ย 

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Here are some property-related tips to help people navigate such a scenario.

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Get good advice

Seek good, independent legal advice. Many factors can influence how assets are divided, such as the length of the relationship, each partyโ€™s income and responsibilities, and if children are involved.

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Consider your options carefullyย 

Could you buy your exโ€™s share of the property (or vice versa)? Or would it be best to sell up altogether? If you and your former partner canโ€™t agree, a court will decide for you (and youโ€™ll have to abide by the decision).

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Notify your lender

Discuss the situation with your lender; theyโ€™ll have seen this type of thing before and will be able to advise you. Remember, if you and your ex-partner have a joint mortgage, youโ€™re both liable for any missed payments โ€“ even if one of you has moved into alternative accommodation.

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Donโ€™t short-change yourself

Beware of home-buying companies that swoop in and purchase properties at lightning speed from people in tricky situations. In return for a quick sale, these operators will hammer you on price. (Youโ€™ll kick yourself later for accepting a measly sum.)ย The more you make from the sale of your home, the more youโ€™ll have to put towards starting the next chapter in your life.

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Get an independent valuation

Whether youโ€™re doing a deal with your ex or selling on the open market, always get an independent valuation from an experienced estate agent. Never rely on a figure given to you by a quick-buy company or your former partner.

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Be realistic about future costs

If you plan to buy a new home post-divorce, youโ€™ll need to budget for a removal firm, stamp duty, and legal fees (all good reasons to maximise the price you get for your home).

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Communication

If possible (and we accept that in some circumstances, itโ€™s just not), try to keep the lines of communication with your former partner open. If you can work together to present your home at its best, you can achieve the maximum price.

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Work with an experienced agentย 

Choose an agent with a good track record. Theyโ€™ll streamline the process as much as possible and minimise stress and disruption.

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For confidential advice about selling your home, get in touch with us here at NestledIn.

 

*Survey conducted by Yopa in 2019.