Divorcing couples can be the worst sellers

New York /
Dec.December 29, 2010 10:39 AM

When divorcing couples sell their homes, it often becomes a nightmare for the buyers and agents and anyone else involved in the transaction. According to CNN, there are about one million divorces a year in the United States and in most cases, there’s a home that needs to be sold. While divorcing couples are often willing to accept offers below market value, house hunters may pay the price in terms of aggravation when working with these sellers. Often, one spouse is anxious to sell while the other tries to sabotage the deal. “Most of my divorcing clients dislike each other very much so navigating the transaction can be tricky,” said Scott Weeda, a Seattle-based real estate agent who specializes in divorce. Buyers may find themselves in agreement on a deal with one spouse until the other vetoes it, and buyers often don’t even know there’s a problem until the last minute.
Carol Ann Wilson, an expert in divorce financial planning, advises house hunters to delve deeper into the sellers’ backgrounds if the sale involves a divorce. “If buyers find that both parties haven’t signed off on the selling agreement,” she said, “buyers should back off. The deal could be easily derailed.” [CNN]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
(Getty)
Manhattan and Brooklyn resi markets continue fall back to Earth
Manhattan and Brooklyn resi markets continue fall back to Earth
Kent Companies' Bill Kent and the late T. Boone Pickens with Mesa Vista Ranch at 2050 Reynolds Ranch Road (Kent Companies, Getty, Hall and Hall)
T. Boone Pickens’ Texas ranch has sold for $170M
T. Boone Pickens’ Texas ranch has sold for $170M
From left: Swig Equities' Kent Swig and Dignity Gold's president Stephen Braverman (Getty, Facebook, Swig Equities, Dignity Gold)
SEC sues Kent Swig’s cryptocurrency partner
SEC sues Kent Swig’s cryptocurrency partner
SL Green's Marc Holliday, AECOM's Troy Rudd and 100 Park Avenue (Getty, AECOM, LoopNet)
Construction giant saws off half of Park Avenue office space
Construction giant saws off half of Park Avenue office space
From left: Trinity Place Holdings’ Matthew Messinger and Macquarie Group’s Shemara Wikramanayake along with 77 Greenwich Street (Getty, Trinity Place Holdings, Macquarie Group, Google Maps)
Trinity Place gets extension to finish troubled 77 Greenwich
Trinity Place gets extension to finish troubled 77 Greenwich
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...