Divorce is considered one of the largest stressful situations that can occur in one’s life, and for good reason. Everyone grieves in a different way when it comes to divorce; some people get angry, some people get depressed, and some people become apathetic. How you respond will not change the fact that you will soon need to divide your marital property, and that can quickly get complicated.
Whether you decide to split the home in a sale, allow your spouse to keep the home, or vacate the home and leave it to your spouse, the process required to act can get messy. Many people think that a lawyer alone can handle the details, but in reality, lawyers just hammer out the details or who gets what. They are not well versed with the realities of real estate, and some of these small details are where you can lose or save large amounts of money.
While the lawyer may be able to write the fate of your home up on legal documents, you need a Tulsa divorce real estate specialist to then protect you and your home value. A certified real estate divorce specialist knows the ins and out of property division, and will discreetly help you navigate through this difficult part of your life without any judgement.
Have questions or need my help? Call Now (918)730-7075
What Can I Do for You?
As the only certified real estate divorce specialist in NE Oklahoma, I can offer you a service that no other real estate agent is trained to perform. I am aware of how the sale of a marital property differs from the sale of any other type of home. I am also aware of the steps you need to take to protect your investment as you decide how to split your home.
At the same time, I also recognize that communications may be terse between you and your ex-spouse at the moment. Therefore, I can be a knowledgeable mediator who can also take care of your property sale. As a mutual party that is solely interested in properly maintaining the value of the property in question, I can help both sides protect their investment and keep emotional setbacks at bay.
When you hire me, I can help make the process less stressful so you can concentrate on moving on, instead of getting dragged back repeatedly into the past because of home sale complications.
Divorces are emotional, and even couples amicably divorcing oftentimes have trouble communicating effectively when it comes to splitting the home. Regardless of how both spouses feel about each other, they usually have strong feelings about their home or at the very least the money they feel they are entitled to. Therefore, in order to help make the initial consultation run smoothly, I schedule one on one meetings with each individual spouse to discuss what I can offer to them. I welcome a spouse to bring his or her attorney and am willing to work with individual attorneys throughout the process as well.
One thing I stress to all of my clients is the high level of discretion I bring to the table. Many divorcing couples are suspicious of each other, but I operate with complete civility and make it a point to stay non-partial throughout each real estate transaction. My goal is to represent the value of the home essentially, and I will do whatever it takes to ensure that both sides are treated equally.
Property Division in Oklahoma
Unlike some states where property is split in a 50/50 fashion and termed ‘marital’ property, in Oklahoma property can be considered both separate and marital property. Thus, when divorce occurs a judge will first decide what property should be considered martial (owned by both spouses) and what qualifies as separate property (owned by one spouse exclusively).
When it comes to actually placing a value on property, the judge uses what is called ‘fair market value’ to make a valuation. The fair market value is what a buyer in the current market conditions would be willing to pay and the amount that a seller would accept. This can vary greatly, which is why it is vital to have a Tulsa divorce real estate specialist on your side.
Common Mistakes Made by Divorcing Couples
The number one reason to work with a certified real estate divorce specialist is to avoid making a costly mistake. There are hundreds of intricate details that can quickly cause you to lose out.
The most basic mistakes usually involve the decision for one spouse to keep the home. While it is easy to take a name off a title, it is not so easy to remove a name from a mortgage. Sometimes a spouse is unable to secure the mortgage on their own because they are applying with one income and one credit score instead of two throwing a wrench into the property division.
Alternatively, a spouse may be able to secure the mortgage on their own, but is then unable to afford the mortgage payments and utility bills associated with home ownership on their own with one income. This can lead to a bankruptcy, and if the other spouse is still named on the mortgage they can suffer the hit on their credit record as well.
Some people are quick to release their spouse from liability and happily take the home when offered it by their spouse. However, if you do this you release them from the shared costs of repairing items in the home such as the plumbing or roof. These repairs should be made before the divorce is finalized and the costs should be split before property is divided among spouses.
There have been cases where a lien has been placed against a home title in one spouse’s name that the other is unaware of. In this instance, if you take ownership of the home you also take ownership of the lien.
These are just a few of the many costly mistakes that can occur during a divorce that involves real estate. I know the ins and outs of real estate transactions, and as a certified real estate divorce specialist I can help you avoid these costly mistakes and more. In most cases due diligence will ensure the division of your real estate property does not continue to haunt you.
For the Spouse Keeping the Home…
If you are the spouse keeping the marital home then you should treat it the same as a new home purchase. When buying a new home, you would order a termite inspection and a home inspection, and you need to take the same proactive steps when retaining your home as well. You will be securing a new mortgage based on the price of the property, you don’t want to pay extra and then later be hit with large repair bills.
By working with me, I will ensure that you have evidence of the actual value of your home. Any necessary repairs should lower the house price, helping make it more affordable for you. It also ensures your spouse pays their fair share and does not just walk away with cash in hand or a larger share of property than should be his or hers.
For the Spouse Moving Out of the Home…
It is vital that you realize that simply leaving the home or taking your name off the title of the home does not release you from financial responsibility towards the home. Until your spouse successfully refinances the mortgage you are just as responsible for every payment as they are. This also means that you are responsible for any future missed payments. In addition, the mortgage will count against your debt profile, and prevent you from quickly purchasing another property.
I can help make the transaction flawless, so that when you walk away from the marital home you are completely clear of emotional and financial ties. I work alongside your chosen divorce attorney to ensure that you are protected throughout the transaction, and can also help you find a new property as you embark on a new chapter in your life.What’s Your Home Worth
For the Couple that Wants to Sell Their Home and Start Over…
A divorce is an emotional time, and it can be easy for both partners to move out quickly and into the next chapter of their lives. However, sometimes it can be wiser for one spouse to stay behind because a house with items in it is always more attractive than an empty house. Of course, you can stage your home, but then you will need more for the service.
One spouse staying behind also usually prevents a home from being sold hastily. Divorces bring with them very strong feelings, and oftentimes spouses are eager to accept any offer just to get rid of their home and a joint mortgage. This can result in a large loss for both spouses, and is not worth the temporary vindication.
Working with a Certified Tulsa divorce real estate specialist allows you to add a neutral party to the table whose only interest is getting you the best price on your home. Therefore, when the decision is made to sell, you can ensure it is a wise decision for both parties.
I am a Realtor and a Broker Associate at Keller Williams. I am not an Attorney and I can not and will not ever give legal advice because I’m not qualified to do so.
If you have questions or need my help Call Now (918)730-7075