As part of my service, I am happy to not only compile and give you a free comparative market analysis (CMA) to help you find your homes value in todays San Antonio real estate market but also I will consult with you in your home on how to increase your homes maximum value and prepare it for our current market conditions. Many times the family home is the most valuable financial asset in a divorce so the initial steps in getting your home listed can be the most valuable and crucial.
To protect your investment, you need a real estate agent who can handle the circumstances of the divorce situation-- a San Antonio REALTOR® that knows how to work with you, and your mediators / legal representative to come up with workable options for both parties.
There are typically three scenarios when selling a home in a divorce:
In a divorce with real estate involved both parties should really be thinking about what it is that they would like to do. Does one party want to sell the home and the other would like to keep the home? Is it financially feasible for one party to keep the home? Are both parties going to live in San Antonio after the divorce? In the event one party does keep the home how will the other party be compensated?
Possible Tax Benefits Selling a Home During Divorce
There are many people in San Antonio who do not realize there are tremendous tax benefits when selling a home due to the Real Estate Capital Gain Tax Law that went into effect in 1997 known as the Tax Payer Relief Act of 1997.
The current capital gains tax law when selling your personal residence allows for an exclusion of up to $250,000 in profit if you are single and $500,000 if married!
In order to be eligible you must have lived in your home for two of the last five years. The home must be your personal residence and can not be an investment property. Contact me to get more details - (210) 872-6003
Can I afford the home after the divorce
There have been occasions where one spouse insists on keeping the home even though it is not a prudent financial decision because they see it as winning a large battle.
If they end up keeping the marital home there are times when they later realize that maybe taking on such a large debt and all the expenses that come along with home ownership was not such a good idea.
When going through with a divorce and keeping the marital home you need to make sure you can afford the mortgage payments. So many couples getting a divorce underestimate what it’s going to cost them to live once the divorce is finalized. One of the things that should be done when contemplating keeping the home is to develop a comprehensive budget before you lock yourself into a divorce settlement.
The emotional side of things should also be considered as well. Does the home have treasured memories shared together or is it a place you would rather forget about. Going back to the part about “winning” is what clouds many peoples judgments when it comes to both financial and emotional decisions.
Selecting a San Antonio Realtor in Divorce
Given that over 90% of all buyers today find their homes online you want to work with an agent that is going to provide dominant internet exposure. The agent should have their own website that comes up on local internet searches, as well as placing your home in the most traveled consumer sites for looking at properties.
I should also note that it is not enough to just place your home in the popular sites. This is what the average agent does.
You should work with a Realtor that is going to spend the time adding great photography, expanded descriptions of your home. These are the type of things that make a difference and help your home stand out from the competition.
Above all else in a divorce you are going to want to work with a local Realtor that has great communication skills.
Given there are two parties involved who might not be sharing the same roof anymore, you are going to want to work with someone who understands the nature of divorce and all the feelings that come along with it. The agent is going to have to have a certain level of patience as all communications will more than likely be repeated multiple times.
Selecting a Realtor is a process that should be done together or at least discussed among both parties. Because usually if one party selects who they want to interview with out the others knowledge or opinion, the other party may feel slighted in the process. The natural instinct is to feel that the Realtor is going to play favorites.
When I am hired to represent a couple in a divorce I want them to both be aware of any interviews or meetings that take place. The goal is always to get the best terms and conditions in the shortest amount of time with the least amount of headaches.
Creating an atmosphere of trust where either party can call me at anytime is very important. Getting a divorce is stressful enough as it is. Adding a home sale on top of it can make you feel like your life is totally upside down. Making the home sale process go as smooth as possible is always one of my objectives.