orly chen – bergen county's premier
real estate agent
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the best case scenario, the divorcing couple has agreed
to an amicable separation."
and Advice When Selling Your Home Because of Divorce
Lucky are those who sell
their homes simply because they want a change of scenery or
are financially able to afford a higher-priced home. With the
divorce rate higher today than it has ever been, a common reason
behind homes being put on the market is because the couple owing
the home are divorcing.
In the best case scenario, the divorcing couple has agreed to
an amicable separation. Instead of arguing about the children
and division of assets, the couple has decided to make the divorce
as painless as possible for all those involved. This usually
means any profits from the sale of the home are split evenly
and without contention.
Unfortunately, this situation rarely occurs.
Options Concerning What Happens to the
When a "friendly" divorce is out of the question,
either party may consider several options:
One spouse can keep the home but
pay the other spouse half of the market value of the home.
A neutral party such as a real estate agent who is keenly
aware of local housing market statistics can be used to
provided a fair appraisal of the home.
Let each spouses' attorneys handle
the negotiations regarding the sale of the home. Because
attorneys are not emotionally invested in the divorce,
they can often persuade clients to concede to their more
objective, expert advice
If the loss of having a dual income
is going to adversely affect each spouse's financial condition,
the option to lease or rent the home exists, which also
avoids selling the home. Another reason to temporarily
rent a home involved in a divorce is if the current market
for real estate is experiencing a temporary downturn.
Finding a Real Estate Agency that Specializes
in Handling Divorce Cases
An experienced real estate agent who has the insight and legal
knowledge to facilitate this type of transaction can often help
mediate decisions made by spouses regarding what happens to
the home following a divorce. Divorcing couples should also
be aware that unethical real estate agencies are always on the
lookout for bickering spouses who want to sell their home but
can't agree on how the profits should be divided. Real estate
"fleecers" will try to take advantage of the intense
emotions involved in some divorces and expedite a sale that
is not in the best interests of the couple with fast talk and
less than genuine promises of a financial windfall.
Trust your intuition when you first meet a real estate agent.
Ask questions about their licensing, how long they have been
operating in the area and if real estate is their full time
job. Let them know what is occurring in your life and what you
expect to get out of selling the home. A good agent who has
had past experiences with divorcing couples and property transactions
will be able to provide information immediately about the law,
local property values and market conditions and will understand
without being told that discretion is desirable.
RE/MAX of Tenafly
Associates lead agents
competing companies in
specialized training and
They dominate the Accredited Buyer Representative (ABR), Certified Relocation
Professional (CRP), Certified Residential Specialist (CRS) and Leadership Training
Graduate (LTG) ranks. Read
About Orly Chen
Chen is a leading
Tenafly real estate agent
in Northern New Jersey
specializing in the Bergen
County area. Her
integrity make Orly
one of the most sought-
after agents in the
Northern New Jersey
real estate market