Because her EX kept the house, one woman was dragged into bankruptcy after his mortgage refinance application was denied post-divorce and their joint mortgage then foreclosed!
One man discovered his EX’s $216,700 pre-marital debt became HIS debt post-divorce as a lien recorded during the marriage against title to the house he kept!
Even a REALTOR® learned paying off home equity debt didn’t cancel the account. Her EX “maxed” it out with $25,000 debt secured by the house she kept!
Because she kept the house, one woman had to pay $12,000 of her EX’s attorney’s fees – even with a property settlement hold harmless provision!
[Real Estate Collaborative Specialist – Divorce™], my divorce real estate team can provide FREE and fee-based information including:
My team consists of lenders and financial advisors who specialize in divorce. We will guide you through options such as refinancing or selling your house.
I will help gather the house documents so that you can make an informed decision. If you decide to keep the house it is critical to check for liens, HELOC, or insurance claims.
Mediation requires informed and voluntary settlements. But if you are missing most house-related documents, your lack of information will likely result in uninformed decision making.
By protecting your credit score you can preserve your home ownership eligibility. My team can give you important information on ensuring your financial future remains intact.
Washington is a community property state which means that any asset acquired or income earned by a married person while living with a spouse becomes community property owned by both individuals 50/50 (unless of course, a prenuptial or a postnuptial agreement is in place). Typically when you go through a divorce and you own a home, both parties try to settle and reach an agreement as to what happens to the home. If you and your spouse cannot agree, then the court will order a sale.
The earlier you and your spouse can agree on the division terms the better. If not, the divorce might be so complicated that you can’t agree about anything, and you end up in Court every week.
This is rare however, because many homes are purchased with both spouses’ incomes and credit scores. Without the dual incomes, the banks are less likely to offer you a loan in that same amount.
Remaining positive, let’s assume you are approved. It’s important to be conservative. If you cannot afford the mortgage payments on a single income, or there is no equity in the home to be able to refinance it, selling your home may be the best option.
Emotions run high in any real estate transaction. Add the element of a divorce and it adds a whole new level of stress. The initial consultation between myself and the client(s) may be a series of :
Knowing the value of your home is paramount during a divorce as it pertains to the division of assets. I have provided thousands of Broker Price Opinions that have been used in divorce court proceedings and during negotiations between parties. Feel free to contact me for a no cost & no obligation home evaluation that can be used in court to demonstrate the estimated market value of your property.
It has been said that a “Divorce is the death of a Dream.” Everyone grieves differently. I approach each spouse with absolute courtesy, non-partiality, and with total discretion. No one needs to know your business. If you are a high-asset individual or celebrity with real estate, protecting your privacy, your finances, and intellectual property during the divorce is my priority.
It is unfortunate, but many properties that are sold by divorce don’t show as well. The pride of ownership is gone and some spouses do not want to invest additional effort or money into something they will end up splitting the proceeds for anyway. This can cost you thousands of dollars. I’ll need you to make sure the property shows well.
In some cases, both parties have left the property and it is vacant. This makes it very easy to show. If one or both spouses is going to occupy the property, I will need access to the home for showings. It can be a delicate situation and I will navigate these waters carefully. The quicker the property is sold and the proceeds are split, the better off everyone will be.
When and if necessary, I make court appearances on behalf of a client. Sometimes it’s to testify that a spouse isn’t cooperating with the sale. Sometimes it’s simply to defend my recommended list price. Either way, my goal is to make the transition as smooth as possible for everyone, and if my presence is needed, I’ll be there.
Now is not the time to leave real estate to chance, given property division is likely permanent. Before you sign any property settlement it is important to know what you OWE, what you OWN, and what you are STUCK WITH. Call today for your FREE consultation
2815 Elliott Avenue, Seattle, Washington 98121, United States
Ron Harmon, RCS-D 206-250-9100