Sunday, November 10, 2013

Home Values & Divorce Woes Through Real Estate

Home Values & Divorce Woes Through Real Estate

As many know, not a easy subject for most, but certainly a reality I often face in my business.  I have worked with many divorcing couples on their own, with their attorneys and sometimes the court or within the confines of a court order. My biggest advantage is that I'm not emotionally involved in the process, I'm totally independent, and I deal with it the way it is.

This is an important subject since for many divorcing couples, real estate is their single largest combined asset, and often their single largest debt by the same token. It's also a primary need of life - having a place you can call your own.  Interestingly enough, divorcing couples comprise a large market of the real estate market. In a large percentage of divorce cases, the parties are either buying  a house, selling a house or both in once swoop. Double escrows may also be in play  - so timing is crucial.

So this creates a need for a real estate professional with savvy, experience and who understands the special problems, this issues at stake, where and how disagreements may occur, property valuations, laws that govern the dissolution of a marriage, and how the real estate portion of it gets through this process, thus avoiding misunderstandings and pitfalls common in a divorce. And one who can work with the attorneys as well, if any, and the court when applicable.

Often, new opportunities are created during the process when there is planning ahead of time, or planning after the fact, as non-emotional opportunities might occur for the parties if and when this is well orchestrated and treated more like a business transaction. So forget 'til-death-do-us-part". 

As real estate values have risen considerably in Phoenix Scottsdale, so have many unhappy couples calling it quits - which means the start-over-cash-out of houses for their maximum value or that might have been underwater on the mortgage loan. So now, for the better, for worse - or at least until the house can sell for a profit.

Richard Bazinet -  Realty ONE Group - Phoenix Scottsdale Real Estate

Home Values & Divorce Woes Through Real Estate