The Real Deal Miami

Divorcing couples can be the worst sellers

December 29, 2010 12:29PM

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]