Helping a client sell or buy a home while going through a divorce can be tricky. As their agent, there are several things you can do to assist them in this process.
First, they have to want to sell.
One spouse may want to sell quickly, and will accept any offer. The other may be less ready and as a result, will be comfortable with a slower process. Regardless of the situation, patience is key. It’s important to encourage cooperation for a smoother process that in the end, costs less and saves time.
As an agent, you already understand emotions run high in typical situations. With a divorce, they can be amplified. Be available to hear your clients out, and offer professional advice where needed.
Second, one or both of your clients may want to buy a new home, or buy out the other’s interest. When it comes to determining affordability and qualifications in this time, there are a few factors to keep in mind, such as owing or receiving child support, division of assets, and responsibilities to debts. All of this can be viewed differently if your client is buying during the divorce process vs. after it’s been finalized.
Key can help you and your clients navigate the homebuying process during or after a divorce. Our loan officers help with refinancing, advising, reviewing documentation, credit analysis and preapprovals. Reach out to Key today to help your clients start their next chapter.