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Divorce Q&A: Selling the Family Home

divorce-qa-selling-the-family-home

Of all the purchases you make when you’re married, the family home is likely the largest. More importantly, a home has sentimental value, which can make it difficult to get rid of or essentially “divide” as you do with the rest of the personal property.

Typically, clients come in with a lot of questions regarding the family residence and putting it up for sale. Below, you’ll find some of the most common questions we receive to hopefully put your mind at ease regarding what will happen to the family home as part of your divorce.

Q: Do I have to sell the home?

Absolutely not! Depending on a number of factors, you may be able to keep the home and your spouse will move out as part of the divorce process.

It’s important to keep in mind that you must have the assets to refinance the mortgage, if you have one, and pay off your former spouse for any interest he or she holds in the home at the time of divorce. As you can imagine, being able to keep the home varies greatly from couple to couple and as such, it’s important that you consider your options before deciding to sell.

Q: If we decide to sell, how does it work?

Typically, the marital home is listed for sale during the divorce process. Both you and your spouse must cooperate on important matters like a listing agent, listing price, and agreeing to accept a contract if it is below asking.

If you can’t agree with your spouse, the court will intervene to settle disputes and move the process along.

Q: What if the home doesn’t sell during the divorce?

It’s common for homes to take time to sell. As such, yours may take longer than your divorce to sell and if that’s the case, there’s no need to worry.

Your divorce attorney and the real estate attorney representing you and your former spouse will continue to work together throughout the sale of the home to negotiate and navigate the process. As such, your house will get sold regardless of whether you and your spouse are still speaking or what has happened as a result of the divorce.

Contact Lawrence R. Surinak Ltd. to Learn More About Options You Can Pursue With the Marital Residence

If selling or otherwise handling the marital residence as part of your divorce is worrying you or you have questions, Larry can help. With over 35 years of experience in both real estate and divorce law, we offer the guidance necessary to handle the marital residence and all other pending issues as part of your divorce.

To learn more or get your questions answered, contact the team at Lawrence R. Surinak Ltd. at 630-470-9990 or fill in our simple online form. We look forward to offering our assistance any way we can during your divorce and well after.

Concentrated on Family Law

Lawrence R. Surinak Ltd. is a law firm concentrating solely on family law and has served clients in DuPage, Will, Kane, and Kendall counties for over 35 years.

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About Attorney Lawrence R. Surinak Ltd.

Lawrence R. Surinak Ltd. is a law firm concentrating solely on family law and has served clients in DuPage, Will, Kane, and Kendall counties for over 35 years.

We continue to work with clients in Naperville, Wheaton, Lisle, Oswego, Downers Grove, and the surrounding areas to provide one-on-one support and attention that will help you through this difficult time.

If you have any questions or concerns, please feel free to contact us at any time. We look forward to offering our expertise and support to you throughout your case and after.