Excerpt from Divorce in Arizona by Marlene Pontrelli and Robert Schwartz
One of the first issues that often arises during a divorce is what to do with the family home. Selling your home is a big decision. To help you decide what is right for you, ask yourself these questions:
- What will be the impact (positive or negative) on my children if the home is sold?
- Can I afford to stay in the house after the divorce?
- After the divorce, will I be willing to give the house and yard the time, money and physical energy required for its maintenance?
- Is it necessary for me to sell the house to pay a share of the equity to my spouse, or are there other options?
- Would my life be easier if I were in a smaller or simpler home?
- Would I prefer to move closer to the support of friends and family?
- What is the state of the housing market in my community?
- What are the benefits of remaining in this house?
- Can I retain the existing mortgage or will I have to refinance?
- Will I have a higher or lower interest rate if I sell the house and buy a new one?
- Can I see myself living in a different home?
- Will I have the means to acquire another home?
- If I don't retain the home and my spouse asks for it, what effect will this have on my custody case?
- Will my spouse agree to the sale of the house?
- What will be the real estate commission?
- What will be the costs of preparing the house for sale?
Selling a home is more than just a legal or financial decision. Consider what is important to you in creating your life after divorce when deciding whether to sell your home.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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