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SELLING
AMID A
DIVORCE

For many couples and families, the largest asset involved in a divorce is the family home and there is no cut-and-dry outcome as to how property is handled.

Selling Amid a Divorce ? – We can help

Property disputes amidst separations can be intricate. The emotional turbulence, coupled with the legal nuances, can make the process overwhelming. At Help.co.uk, we understand these challenges and aim to guide you every step of the way.

Selling a Home: Consent Matters

It is crucial to consult a reputable family law solicitor specializing in property matters. Choose a firm registered with the Law Society and Solicitors Regulation Authority. However, exercise caution to avoid excessive fees and unnecessary advice.

 

Commercial agents always compete with one another. So before settling on one agent, have a discussion around their competitors. On the bright side, commercial agents tend not to charge a high fee.

 

If you co-own the property with your spouse, unilateral decisions, like selling the house, typically require mutual agreement. However, certain legal provisions or court orders might override this general rule.

 

For unmarried partners, property rights can be a tangled web. Unlike the married counterparts, they lack predefined legal safeguards. However, significant financial contributions or promises can pave the way for property claims, even if not named on the title.

 

Know your property’s worth before making any decisions. Whether it’s a DIY market analysis, RICs surveys, or leveraging our expertise at Help.co.uk for a free valuation, understanding your property’s value is crucial.

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Selling After Divorce: The Pros

 

It’s no secret that in a good handful of divorces, partners aren’t what you’d call on the best of terms, hence why selling your property after divorce could be a better option.

After divorce, typically the heat of the situation has begun to fade. With less emotions at play, you can often reach a resolution faster and usually in a less stressful manner. Why? Because you’ve both had the time to some extent unpick the connection you previously shared. So when it comes to negotiating who gets what, that’s no longer clouding your vision.

 

Contrary to what your local estate agent will tell you, NOW is not always the best time to sell.

If selling your house before divorce would mean it’s sat on the market receiving very little interest because demand is low, then waiting until after divorce probably wouldn’t be a bad idea.

Heck, even if prices dipped, you’d probably end up achieving pretty much the same price, providing it triggers an increase in demand. But how? Well, the reality is that buyers want what’s hot. So if your property’s not receiving any interest and been on the market a while, in their eyes it’s only worth a cheeky lowball offer.

But ultimately it’s up to you to assess whether this would be a viable strategy.

 

By selling your house after separating from your partner, you have longer to consider your options. After some thought you may actually decide to carry on living in the property.

For instance, if you have children and that’s all they’ve known, it might actually be the best course of action. Plus, if both you and your ex-partner can move on without selling, it could be fashioned into a profitable as a buy to let, providing of course you left on good terms.

Selling After Divorce: The Cons

 
While at the time selling your house after the divorce may seem an appealing prospect, it could in fact become a burden in the future. For anyone going through a divorce, the time afterwards is valuable. It’s a time to cool down, reflect, build yourself back up and muster the confidence to eventually (pardon the cliché) ‘get back out there’. Something you’re unable to do fully if your property is still tying you to your ex-partner.
 
We mention it a fair bit in this blog, but Capital Gains Tax can be another unfortunate cost of leaving the sale of your house until after your divorce. If your partner isn’t entirely keen on selling the house before you divorce, then it’s important for you to factor in CGT as a potential expense. Useful to know when you’re shopping for your onward purchase.

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