Are you trying to decide where you want to live and can afford to live? If you own a home together, will one person remain in the home? When will the buy out occur? Is it better for you to sell? Do you have any equity in your home? If you have children, is it important for you to remain in a particular school district? Will you be able to qualify for a mortgage on your own? What do rentals cost?
Just a few years ago, divorcing couples could sell homes quickly for high prices, pay off mortgages and home equity lines, and walk away with a profit. Today it’s not so simple. In divorce mediation, people gather information. What has sold recently in your neighborhood? How long was the house on the market? What will it cost to use a realtor? Do you want to sell on your own? What is our asking price? Does the house need any repairs? How are we going to decide when to lower the asking price? How are we going to divide the equity?
Answering these questions helps divorcing couples make informed, realistic decisions. Discussions in divorce mediation help people face today’s difficult real estate market. Once you have gathered important information and figured out what will work best in your situation, both people will be prepared to do what is necessary, will be able to move on.