Ask The Experts
What To Do With The House
Bill Leeper & Shirley Jenkins
6300 S Syracuse Way, Suite 150
Greenwood Village, CO 80111
Denver, CO 80206
Bill & Shirley understand that life transitions are stressful, emotional, and confusing at times. They bring a wealth of experience and practical knowledge to the table. In addition to their real estate experience and divorce designations, Shirley has many years of experience working in psychiatry as a clinical therapist and Bill has experience as a consultant helping individuals with change management and group decision making.
Their unique approach in representing both divorcing parties when selling the marital home results in clients feeling highly satisfied that they were heard, treated fairly and that the goal of determining the direction of mutually owned real estate was achieved.
Q: What are some of the benefits of hiring a trained divorce real estate agent, such as Your Colorado Home Group?
First, there is a legal process going on at the same time as the real estate transaction. An agent without experience or training in the area of divorce real estate can be overwhelmed by the complexity of a real estate transaction happening concurrently with a legal one.
As founders of Your Colorado Home Group, we have extensive backgrounds helping divorcing couples with real estate and are Certified Real Estate Divorce Specialists (CREDS) and Certified Divorce Real Estate Professionals (CDREP). This makes us highly qualified to provide a neutral third party to handle complex, potentially volatile situations.
The second main difference is that we make sure to provide fiduciary responsibility to both spouses. Unlike a “traditional” real estate transaction involving two people on the same page, a divorce real estate transaction requires the agents to provide fiduciary duty to two people who may have different opinions on how to move forward.
The Third big difference in divorce real estate: we often are working in a time frame that doesn’t easily accommodate emotions. According to the Holmes and Rahe stress scale, selling a house is the third of the five top stressors in life. Divorce is second.
Q: Should I sell the house after divorce? Should I keep it?
This is an emotional issue—with serious financial consequences. We offer a no-cost consultation to walk you through the decision process. We want you to have to know what you will net if you sell. We will help you crunch the numbers. All of the numbers—sales commissions, transfer taxes and fees, staging costs, moving costs, etc. We can introduce you to a certified divorce financial adviser and/or a certified divorce mortgage specialist to see if you can qualify to keep the current home.
What are some of the questions if you want to consider keeping the house?
- What are possible pitfalls if one party stays and the other is responsible for paying the mortgage?
- What are the actual annual costs to maintain the home and has a recent inspection been done?
- Should you keep the home and buy out your soon to be ex-spouse, or vice versa?
- Can either of you really afford to keep it after the divorce?
The answers to these questions and others will help you avoid problems associated with the division of this marital asset. Historically, the family home is the asset that most often causes controversy both before and after a divorce.
As certified divorce specialists, we are experienced and well-versed in divorce property division to minimize conflict and maximize homeowner profits – all from a fair, unbiased place – we can be enlisted by either of the parties or appointed by the court to represent both you and your spouse in a divorce property transaction.