If you have found yourself in the position of the buyer of a house resulting from a split of assets from any cause, you may find Potential Pitfall a useful read.
Selling a house in which a marriage has foundered is a sad process in itself, but the prospect of leaving a cherished home and launching yourself into the process of finding a new one – coupled with the reality that half the money buys less than half the house – it’s no great surprise that summoning the enthusiasm to do the legwork is an added pressure that clients often outsource to a Buying Agent.
Newly separated purchasers can struggle in coming to terms with the kind of house they find themselves in the market for. Our advice to buyers is generally to think long-term, but when we’re advising newly separated clients that is frequently reversed – think short term. Flexibility is the key, keep your options open, give yourself a chance to start thinking clearly before you rush into something. You are likely to be hurt, angry and vulnerable – never a good place to start making decisions.
If this is your dilemma, we’ve collated Stacks’ key words of guidance on formulating your Property plan of action, which may help to clarify your thought processes, plus Practical Advice on what to do next, including Selling your House after a Split.
For those considering the benefits of retaining a Property Finder, the usual advantages can be even more crucial at this difficult time.
Do get in touch if you find yourself wishing that someone could take the house hunt burden from your To-Do List. Learn more about our Service here.
Stacks have a great deal of experience with moving as a result of a split, and suggest 2 steps that everyone should follow. Step 1 – Think calmly and give yourself room to acclimatise. Whilst it is undoubtedly difficult, clarity on what is happening with your home can be the most beneficial...
As a newly single buyer you will have more questions than answers: What is your new financial situation, and how will this affect your mortgage situation? Do you want to stay in the same area or is this a good opportunity to move to a completely new location? How is the three-way relationship...
Stacks also has the following practical advice for newly separated purchasers: Remember that this is probably not how it will be forever.The chances are that new relationships will flourish, new opportunities will arise, so in the short term: Don’t flee: Location is almost certainly your main priority and, whilst the initial temptation maybe...
The main drivers for properties coming to the market are traditionally the 3Ds – Death, Debt and Divorce. Debt is playing less significant role as low interest rates mean that property owners are less likely to find themselves unable to pay their mortgages. Death is more low-key as there is a...
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