Q: When is the best time to sell the house?
I've heard that if the court orders it, we will lose $$ because the judge will force us to take a low-ball offer. Should we try to sell it and divide the profits before we go into a divorce? Thank you again for your expertise.
A:
In a divorce situation, the timing of selling a marital home can be complex and depends on various factors, including your specific circumstances and the level of cooperation between you and your spouse. Here are some general considerations:
1. Selling before filing for divorce: If you and your spouse agree to sell the house and divide the proceeds, doing so before filing for divorce can simplify the process. This way, you can avoid the court's involvement in the sale and have more control over the terms of the sale.
2. Court-ordered sale: If you and your spouse cannot agree on selling the house or dividing the proceeds, the court may order the sale as part of the divorce proceedings. In this case, the court will typically set a deadline for the sale and may appoint a neutral third party to oversee the process. While the court aims to ensure a fair sale, it may not always align with your preferred terms or timeline.
3. Market conditions: Regardless of whether you sell before or during the divorce, consider the current real estate market conditions. Selling during a strong market may help you maximize profits and minimize the time the property is on the market.
4. Financial considerations: Evaluate your individual financial situations and whether either of you can afford to keep the house. If one spouse wants to keep the property, they may need to buy out the other spouse's share, which could be challenging if funds are limited.
Ultimately, the best time to sell depends on your unique situation. If you and your spouse can cooperate and agree on the terms of the sale, selling before filing for divorce may be preferable. However, if that's not possible, consult with a divorce attorney to discuss your options and strategize the best approach for your case. They can provide guidance tailored to your specific circumstances and help protect your interests throughout the process.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
