Understanding Listings with Right of First Refusal
In a dynamic market, assessing property value can pose challenges. When appraisals differ, and parties struggle to agree on a valuation for property division, a viable approach is to consider listing the property for sale. This method allows the determination of value based on what a ready, willing, and able buyer would pay in the […]
Strategies to Mitigate Breach of Contract When Selling the House
Divorcing litigants face many liabilities when they sell the house. Generally, in every real estate transaction, the owners enter into two contracts: 1) A listing agreement with the brokerage and 2) a purchase agreement with the buyers. Each contract comes with terms and timelines that could cause your client potential problems. 4 Common Issues: Disclosures: […]
Property Condition and Listing “As-Is”
It’s a common temptation for divorcing couples to list their homes “as is,” regardless of the property condition. While it may seem like a convenient option, it’s essential to understand the potential consequences, which could lead to tens of thousands of dollars (or more) in lost equity. Why is this important to consider: A property […]
The Dangers of Missing Proceeds Distribution
(A guest post from the Ilumni Institute) Attention Divorce Attorneys, Don’t forget to include proceeds division and distribution directives in sale-of-house orders! In addition to enforceability and protecting your clients' interests, here are a few of the issues divorce REALTORS® see when there are no orders or agreement regarding proceeds: Sale sabotage: When parties living […]
How to Choose a New Home After Divorce
So, you’re divorced. Now what? Once the legal proceedings of your divorce are done and you and your ex-spouse have settled the bills, it’s time to start thinking about next steps. Specifically, it’s time to decide what you’re going to do for permanent housing. Your first step will be to explore your financial situation and […]
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