If you’re going through a divorce, and the decision has been made to sell the family home, it can be a tough time for everyone. After all, moving can be stressful at the best of times; a divorce or separation can make it even more so.
Memories made, worries about the finances, and stresses around how any children of the marriage will manage the upheaval can all make selling the family home an overwhelming experience. On the other hand, selling the house is a huge signifier of a new chapter in your life – the chance for a fresh start and a more positive future on your own terms.
So, where do you start, and how do you ensure that the process runs as smoothly as possible? Here are some of our top tips.
Understand your legal rights and obligations
If you and your ex-spouse jointly own the house, you’ll have equal responsibilities and obligations, including responsibility for the mortgage and any applicable property tax. It might also be that you pay for utilities and other bills from a shared bank account.
Make a list of all of these obligations so you have a clear picture of who’s currently responsible for what. At this point, if you have a solicitor, you will have probably discussed how much you’re likely to receive from the proceeds of the sale, as well as any interim arrangements to be agreed with your ex-spouse whilst the house is sold and the sale is completed.
If you haven’t yet spoken to a solicitor, now is a good time to consider the benefits of expert legal advice, to ensure that you’re getting the fairest outcome for your future.
Consider your future living costs
When looking at your current obligations, think about what your future financial commitments will be when you’re no longer living with your spouse, especially if there are children involved.
Consider:
- If there are any remaining mortgages or joint debts to pay off
- Putting money aside for any essential repairs that need to be undertaken before the sale
- How much you need to buy or rent another property, as well as pay the utility bills on an ongoing basis
- What your income is likely to be following your divorce
- Any activities, programmes or classes you’ve committed your children to that could be disrupted as a result of maintaining separate households
The above suggestions are just a selection of the things you’ll need to consider; again, legal advice will help you get the clarity you need.
Focus on the practicalities
Selling a house can be challenging. Doing it during a divorce can become emotionally charged, especially in instances where you and your ex-partner are struggling to agree on things.
Try to focus purely on the practicalities, viewing your house as a financial asset rather than your family home. This can help you to look at things less emotionally and be more objective in the process.
Lean on your network
No matter what you’re going through in life, we always recommend leaning on your support system, whatever that looks like for you.
If conversations about your house sale are turning into conflicts, consider bringing along someone who can help you address the matter with a level head – a family solicitor, for example. It might be that on their advice, you explore mediation options to help you find a solution that works for all parties.
Seek out legal and financial support
Reaching an agreement on how to divide the proceeds from your house sale can take time. But your solicitor can help you come to a fair agreement that will be reflective of your circumstances both during and after your divorce. And, very importantly, they can ensure that the necessary agreements and orders are in place to minimise the risk of any future conflict or disputes.
It’s also advisable to speak with a financial and mortgage advisor, to get the low down on how your credit score is looking, and what you need to do to secure a mortgage post-divorce.
If you’re ready for things to change, we’ll be right here with you at every step. Contact the Harrogate Family Law team today to put your mind at rest and get things started.
