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How to Sell Matrimonial Home in Shelburne After Divorce
When a couple decides to divorce, it’s likely that the matrimonial home in Shelburne, Ontario is divided as part of the process. This means that both parties can keep living in their separate homes until they find or buy new places to live. Selling the matrimonial home is another option, especially if one spouse has found a new place and doesn’t intend on moving back into his or her ex-spouse’s home.
Your house may be only one of many assets in a divorce settlement; others include bank accounts, stocks, retirement plans and debts. You can negotiate how much each person will get from all marital property before signing final papers that divide everything up. Your spouse will probably receive about half of what you own together as part of the divorce agreement. If this isn’t clear at first, your spouse can petition the court for more money if needed later. This is it’s so important to keep records of everything so that you can divide property appropriately. Real estate is usually divided equally between divorcing spouses, and this includes shares in realty companies and the value of homes.
Selling the family home will require an evaluation by realtors who can offer advice about how best to put your house on the market and for what price. They may also be able to recommend contractors who can renovate certain spaces so that they attract buyers and help you get top for your property. If you’re considering selling, but don’t want to go through the hassle of finding realtors, hiring contractors and assessing the market yourself, you could also contact a real estate agent who may offer professional evaluation and assistance at a fee.
Before deciding to sell your matrimonial home, be sure that any renovations made reflect your current lifestyle rather than what you’d like it to be in the future. A classic example is if you’ve spent years raising your children in a four-bedroom house and have recently moved back with them after a divorce. Even though the kids are grown up now and no longer need so much space, most buyers will assume that there’s a chance they’ll have children of their own someday – so offering less bedrooms means fewer potential buyers.
If you’re considering selling, be sure to contact your local real estate agents for advice and evaluations. Also, assess the current state of your home to determine what renovations or repairs will need to be made before putting it on the market. This way, you can sell the property quickly and won’t lose money if it sits around for too long.
You’ll also need to decide what to do with any money your home might owe. After a divorce, neither of you is responsible for the other’s debt unless it was taken using your joint credit or you cosigned it together voluntarily. If you keep the house, you will be responsible for paying off debts on the property like mortgage payments and taxes even if your spouse paid them while they were still living there. Your spouse will not be responsible for these bills after they leave; however, if they choose to move back in at a later date, he or she may be liable for the debt again.
Selling your home in Shelburne, Ontario after a divorce can really simplify your life and help you start fresh in a new place. It’s important to go into the process with clear expectations and an agreement that both parties agree with. As always, keep records of all transactions and property value so there are no discrepancies later on.