Divorce and Real Estate - A True Specialty

Written by Posted On Wednesday, 16 October 2013 12:33

Yes, every divorce is different, but there is a common thread within each experience. The marital home is the largest financial asset that most families own, and also the most emotionally charged issue, following that of the children.

Why then do families navigating this life transition not enlist the help of a true professional in the real estate arena, that of a Real Estate Divorce Specialist (REDS)? A fairly new and apparent best kept secret from consumers, this designation can empower the family with knowledge about their family’s choices regarding the marital home, and actually help diffuse conflict on the path to a final agreement.

The REDS designation has provided valuable guidance to me and to my clients that other Realtors have not been prepared to handle. Preparation for assisting this extremely vulnerable buyer or seller includes education on the anatomy of a divorce, identifying marital property, proper Realtor representation, effective communication in a highly charged transaction, expert witness appearances, tax issues and the option to purchase a home prior to the divorce being final.

When navigating a divorce it gives peace of mind that there is an educated professional in place to guide the family by listening to their needs and goals regarding the marital home. From experience I believe it is not a one size fits all decision.

Often one party or the other wishes to retain the home and every avenue should be investigated to reveal if this is a possibility and also fits with the short and long term budget and goals for each party. Too often I have heard the legal advisor pushing to sell the home because it is cleaner for their case load, or a Realtor opines that the house should be sold because that’s a sale and better yet three transactions, should each party then buy a new home.

In the real estate arena it has become impossible for Realtors to be well versed in all specialties, from HUDs, foreclosures, short sales or families in transition. Take a deep breath and consult with a REDS to ensure you have all the facts before making a decision about the house your family has called home.

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