Divorce is stressful emotionally and financially. And, for most couples, the home is your largest joint asset. Agreeing what you plan to do with that home is difficult. Before deciding, you should take gather some key facts:
• Know the market value of your home (Havenly will provide a FREE Market Analysis for you…just click here).
• Find out your mortgage balance to determine the equity you have in the home.
If your home has equity, you may consider refinancing and buying out your spouse. If you cannot afford your mortgage payments on a single income, or there is no equity in your home to refinance, selling your home may be the best option.
Selling your home before your divorce is finalized might exempt you from capital gains taxes. Married couples can exclude as much as $500,000 -- twice as much as unmarried individuals. Who ultimately gets the house in a divorce (if anyone) depends on Oklahoma state law.
The sooner you can come to an agreement the better. If you decide to sell, preparing for an open house, showings, and dealing with closing or moving adds another layer of stress. That’s why Havenly Real Estate Group provides concierge-level service, making sure that you have professionals in your corner to handle jobs like cleaning, staging, minor repairs, and moving. We take the extra steps needed to see these tasks through to finish.
We negotiate hard for our clients and treat each spouse from an impartial place. We know how much stress your facing and we treat each spouse with integrity, discretion, and patience. Protecting your property, your finances, and privacy during the divorce is our top priority.