Dividing marital property can be a time intensive process, especially for those who have large or complicated assets. Even something that might have seemed simple enough when it was acquired can turn into something far more complicated during divorce. Perhaps one of the most common troublesome assets is the marital home. Alabama couples who decide to sell the home and split the profits must be prepared to work together during the process.
When getting ready to sell a home during divorce, it is important to assess the property’s condition. Is it in overall good shape? Or does it need more than a coat of paint before hitting the market? Once a divorcing couple has identified needed maintenance or upgrades, they should discuss what they can reasonably budget. From there they can decide how to split financial responsibility.
Creating a timeline can be helpful for making sure that work does not drag on for longer than necessary. This timeline should include general time periods for when work on the house should be completed, when it should hit the market and when the couple would ideally like to close on the sale. Of course, life is unpredictable and there is no guarantee that they will hit these goals exactly, but having a general guide can prevent unnecessary delays.
Many people in Alabama would prefer to close on the sale of a home before the end of a divorce. This requires a proactive approach and willingness to work and compromise when necessary. However, selling a home and getting a divorce are both emotional processes, so this can be tough. Having the right guidance may prove useful during this difficult period of life.