Selling a home is often a stressful experience. Add divorce into the equation and things can quickly get out of hand. This might not sound great for the average Maryland couple going through a divorce, as the marital home may be the largest asset they will have to deal with. However, just because something is hard does not mean it is possible.
Spouses who are committed to collaborating on the sale of their marital home should keep a few things in mind. For example, when would they ideally like to close on the sale? Of course, it is nearly impossible to set a goal for closing and hit it exactly, but having a general timeline for listing the house and selling it will provide guidance for other important steps.
Getting the house ready to list is one of those necessary steps. Even if one’s house is in fairly good condition, many buyers in Maryland are looking for homes that need very little — if any — work. Putting in work could be something as simple as painting a few rooms, or as involved as replacing an air conditioning unit. Spouses should be sure to agree upon financial responsibility before starting the work, though.
Dealing with large, valuable assets can be understandably confusing. There might be tax implications for keeping, transferring or selling certain assets, while others might have hidden ongoing costs. Deciding what to do with a home during divorce is certainly no exception. Whether worried about the financial side of selling the marital home or keeping it, it may prove helpful to reach out to an experienced attorney before making any final decisions.