Deciding when to sellDeciding when the right time to sell the house is important and is based off of several factors. Here are some questions to ask when deciding when to list:

How much time is needed to make repairs and prepare the home for sale?

Can we afford to wait for the best season to sell?

Is your mortgage up for renewal soon? How much will the break mortgage penalty be?

1. One of you needs to move out when you separate.

This is false. Each spouse has as much legal right to live in the home as the other does until a court decides or one of you agrees to move out. Not wanting your ex to live in the house with you is not enough reason to lock your ex out of the house. If there is abuse it is best to seek a lawyer’s advice and not stay in that situation.

When you are going through a divorce and you are deciding what to do with the marital home. There are generally 3 options, buy out the other spouse, sell the house, or the couple can continue to co-own the house.

The spouse who is buying out the other, will pay a lump sum and incorporate any equity that has been accumulated over the marriage. The spouse who is taking over the home will need to apply for a refinance in only their name and go through the mortgage pre-approval process.

When selling a home during a divorce there are a few different options that a divorcing couple can decide on. It’s important to think about all the options that are available and to select the best option…