Owning a home or second house is often one of the biggest investments a person will ever make. While real estate is generally a smart, safe investment, property can be difficult to deal with during divorce. Even Illinois couples who agree to sell a house encounter hurdles throughout the process.
Simply agreeing to sell the home is not enough. Both spouses should work together to decide what the end goal is as well as the timeline for getting there. For example, when should the house be ready to list? What is the ideal closing date? While the real timeline might not align with a couple’s ideal timeline, having a guide is preferable to heading into the process blindly.
Couples must also consider the financial side of selling a home. Most homes need at least a small amount of work before hitting the market, such as a coat of paint or new dishwasher. The cost of this work can quickly pile up, too. Deciding how to split the cost of maintenance and repairs before getting started can minimize potential disagreements in the future.
Letting go of one’s home can be difficult even when these details are all ironed out. One spouse might have agreed to everything but then decided to use the house as a bargaining chip soon after. Alternatively, perhaps he or she is too worried about the here and now to think about the future implications of selling or keeping a home. This can be extremely frustrating, especially for those who are ready to move forward with their lives after divorce. For some, it may prove helpful to speak about their options with an attorney experienced in Illinois family law.