How to sell an apartment after a divorce
How to sell an apartment after a divorce
We tell you everything you need to know about selling an apartment after the spouses divorce.
One of the most common questions after a divorce is what to do with the house. The ideal would be for the spouses to reach a consensual agreement in order to avoid the harsh and long judicial process.
It is usually advisable for the parties to reach an agreement on what is most convenient to do with the marital home rather than letting a judge decide for them, since the judge's decision may not be beneficial for either party.
In the event that the divorce is not amicable and is contentious, the judge will make the decision as to what will be done with the marital home.
What are the factors that influence a flat after a divorce?
There are many factors that can influence what is done with the apartment after the divorce in case it is contentious.
First of all, you have to take into account: if the couple has children and their age. In the event that there are minor children and one of the spouses obtains full custody, the judge could decree that it be the permanent home of the spouse and children until they reach an age or are independent.
On the other hand, in the case of shared custody, the judge can decree that the home be shared by the couple for periods, that is, that during a certain period one spouse uses the home and at the end of said period it is transferred to the other, with the rights remaining. children in the home with both parties.
What is best to do with the apartment in case of divorce?
This question will depend on many factors, such as whether the couple has another home or whether they still have a mortgage on the home.
In the event that the couple had more than one home, they could agree to distribute them and compensate each other financially in case of difference in values.
The problem arises when there is only one home and it still has an outstanding mortgage. The bank is not responsible in the event of divorce and will continue to claim the total debt from both parties even if an agreement is reached that the home will be kept by one of the spouses and will be responsible for the existing debt.
Regarding the entity, both parties will be responsible for paying the total debt, so that if one of the parties stops paying, the bank would claim equally from both.
If the objective was for the bank to authorize the departure of one of the parties so that it would no longer have responsibility or obligations for said debt, the entity's approval will have to be requested and in most cases, the bank will request that said person is replaced by another with equal or better conditions.
Selling the flat after divorce
Most of the time the best solution for what to do with the home in case of divorce is the sale. If there is an existing mortgage, it will be canceled and the parties will obtain a profit that they can use to look for a new apartment, either as a rental or as property.
Reaching an agreement on the sale price is essential, since otherwise the judge will be the one to estimate the sale value through an appraisal, which in addition to being an unnecessary expense, can tremendously complicate the sale.
Furthermore, if the home is not sold, the judge can order the sale of the home through auction at a price much lower than its actual sale value. That way both parties would lose.
Steps to sell an apartment after a divorce
Ideally, both parties agree on both selling the home and the sales price. To determine the sale price of the apartment after the divorce, you can do it in two ways: request a paid appraisal or a free appraisal.
We offer our clients to value their home completely free of charge in two ways: request an online appraisal or a personal valuation by our real estate advisors.
Our valuations are based on a study of the latest sales made in the area and which have been registered in the Malaga property registry, being completely real data of the transactions carried out.
To this data we add that of the homes that are currently being sold with similar characteristics, to determine the most accurate current market value possible.
The valuation can serve as a guide when determining the sale price of a property and is also free, that way you will obtain all the information you need to make the best decision without having to pay for it.
Do you need to sell a home? Visit our page Sell with Valoracasa or contact the 695033558 o al Cruzhumilladero@valoracasa.es
Juan Rosado
CEO
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