I recently had the privilege of sitting down with expert Realtor Mark Schauder of Pacific Sotheby's International Realty to discuss a subject clients ask me about all the time: How to handle a house during a divorce.
Mark has been a Realtor for 17 years, and actually specializes in divorce-related real estate—an industry that is particularly important given that approximately 50% of all marriages end in divorce.
Unlike in a typical real estate deal, divorce Realtors don’t represent the sellers themselves.Instead, they represent the house. This takes away any risk of either spouse assuming the Realtor is on “their side”.
As a Real Estate Collaboration Specialist in divorce, Mark understands not only how to effectively sell a home for a divorcing couple, but also what other considerations they’ll need to keep in mind. For instance, many people forget to alter their trust following a divorce.
Mark can also help facilitate a smooth transition in the event that one of the parties involved wants to keep the house, though he tends to recommend against this. In this circumstance, they would need to utilize a quit-claim deed, which would allow one party to transfer complete ownership. However, before this is done, the person interested in maintaining ownership will need to seek a professional lender’s advice. After all, they may no longer qualify for the home’s mortgage on their income, alone. It’s also a good idea for anyone interested in keeping their home after a divorce to order a home inspection. This way, they can be sure of the property’s current condition before deciding to keep it.
Often, Mark says, it’s better to move on and find a home that is more appropriate for your new, post-divorce lifestyle. Having these conversations is never easy, but it’s important that people going through a divorce have an advocate, like Mark, to talk to when exploring their options and navigating this difficult point in their lives.
If you have any other questions or would like more information for Mark, you can reach him at (858) 231-4641 or at email@example.com.
And as always, if you would like to speak to me about any of your other legal questions or needs, please reach out. I look forward to hearing from you soon.
Often, Mark says, it’s better to move on and find a home that is more appropriate for your new, post-divorce lifestyle.