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 pillar of support, and clearing the way for your new life to go forward. To achieve this, you need first to make a thorough, calm assessment of the avenues open to you. This will allow timely decisions to be made and the sale of the current home to progress smoothly, if that is the route you choose. Further advice is available to help your thought processes here. N.B. Do not dismiss the idea of hanging onto the family home. Can you gain from it financially, for example, renting out a room or offering bed and breakfast. See also Making your Property Work for You for other creative ways on getting an income from your property.
Buying a property from a divorcing couple can be one of the most challenging processes, with an agreed purchase more likely to fall apart than in any other scenario. At the most basic, regardless of your need for revenge, fouling up your house-sale will hurt you both, and of little worth in the long-run.
Step 2 – Do your level best to avoid being ‘that acrimonious couple’.
Whilst it might be the last thing on your mind, presenting a house as a desirable place to live is still valuable, and demonstrates to buyers that your impending split will not be an added complication for their chain. This is particularly important if there are other houses at a similar price-point in your area – think Phil Spencer’s “Secret Agent” treatment – ensure that the house doesn’t look ‘stripped out’, rearrange your furniture, touch up paintwork where photos have been taken down, etc etc.
If you are buying from a divorcing couple, Stacks’ advice regarding potential pitfalls and warning signals is available here.
Be realistic about the pressure you are under, and if possible, consider delegating some of that to others. Learn more about how a Property Finder can support and help.
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...
With one in three marriages ending in divorce, it’s a sad fact that a significant number of property sales and purchasers in the current slow market are as a result of a failed relationship. If you have found yourself in the position of the buyer of a house resulting from a...
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