September 7, 2017
Sometimes the most difficult aspect of a divorce is the marital residence. Sometimes the decision to list the house for sale is a mutual decision, arrived at jointly by the parties, and sometimes the Court enters an Order compelling the sale. Regardless of why, as a divorce attorney at Weinberg & Cooper, LLC, I believe it is important for my clients to consult with an agreed upon realtor as soon as feasible to discuss what they can do, and how to maximize the eventual net sales proceeds realized from the sale of the marital home. To make a home “sale ready” takes specialized advice from real estate professionals, who have the knowledge, training, and expertise in your particular market. I try to steer my clients away from picking a “friend” realtor just to give them the sales’ commission. Talent and a keen eye are specialties. Usually the marital home is the most important and significant asset to be distributed in a divorce, and it is a business transaction that must be taken seriously.
I recently discussed this topic with Megan Murphy, from Keller Williams Village Square Realty, Ridgewood, New Jersey, regarding her advice for such prospective sellers. Ms. Murphy advised that, “The two best strategies for selling your home for the most amount of money in the least amount of time are: (1) pricing at market value or slightly below as you will get the most interest and possibly generate a bidding war; and (2) staging your home: the more neutral, the better. Buyers need to be able to imagine themselves in your space and there is no easier way that to work with a blank canvas.”
I often tell my clients that the role of a good realtor is to guide you through this difficult process. You have only one shot to make a first impression when selling your home. A home that lingers on the market becomes stale to prospective purchasers, and if you and your former spouse continue to reside there together post-divorce, or are financially intertwined paying the mortgage, taxes and utilities post-divorce, selling the home sooner then later is a must. When I asked Ms. Murphy her thoughts as how to strengthen a listing, she advised, “Professional photos are a must and a dominant online presence is an absolute necessity. Always tidy your home before showings and be sure to leave. Nothing turns buyers off like an untidy home or a seller lurking around trying to point out the things about the home most important to them. Everything you do going forward should be about making your home appealing to the largest number of buyers. This means removing personal photos, painting rooms a neutral color, removing clutter, etc.”
As I said, the sale of the marital residence is common place in many divorces. It is hoped that with the correct guidance from a qualified realtor, such as Megan Murphy, your home will be sold quickly, and you can begin living your life, free of the spouse and free of the house!
For more information about New Jersey divorces, contact Ashley Tate Cooper, Esq. at Weinberg & Cooper, LLC. For more information about listing your home in Northern New Jersey, contact Megan Murphy at Get Moving with Megan.