• Selling your home before you are qualified to buy another — financial situations change along with loan requirements, especially in divorce, so make sure to be prepared. Also, keep in mind that if you are planning on buying another property before your divorce decree is finalized, your ex spouse will need to sign a waiver releasing any claim on the new property. I've seen this many times, so lets discuss a solution proactively if you know this will be the situation eventually. • Guessing your mortgage payoff — be aware of any penalties that may be involved in paying off your mortgage and get an exact figure. Leave nothing to speculation. Penalties and fees will likely be shared penalties and fees. • Underestimating closing costs — calculate fees, taxes, and commissions to be paid, and understand that remaining proceeds will be divided as agreed. I believe in total transparency with respect to fees, and will always estimate on the high end so there are hopefully only pleasant surprises. • Earnest money — if the sale falls through and you have a claim on the buyer's deposit, what happens to the money? Avoid stress and hassle by working out these details ahead of time. I cannot stress being proactive in your methodology enough. • Befriending potential buyers — if you confide that you are divorcing, they may assume you are desperate to sell, and that can affect the sale of your home. Make sure you and your Realtor® agree to both keep an eye out to avoid this pitfall! Outside of issues that directly pertain to the integrity and safety of the home, keep your mouth shut.
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