Are you a divorce attorney with clients who need to divide real estate assets? Do you find the complexities of property division adding unnecessary stress to your practice? I’ve partnered with thousands of attorneys, providing a neutral and highly trained perspective on real estate matters in even the most high-conflict cases. Did you know that less than 1% of all real estate agents in the nation hold this certification? Imagine having a CDRE partner who ensures that your clients get the best possible results when selling their homes during a divorce.
The 4 Common Misconceptions About Real Property Division
1. The Appraised Value is the Only Value That Matters
One widespread misconception is that the appraised value of a home is the sole determinant of its worth. While appraisals are crucial, they can vary significantly. It’s often beneficial to have multiple appraisals or comparative market analyses to grasp the true value of a property. This multifaceted approach can provide a more accurate and comprehensive understanding, ensuring fair division.
2. Selling the Home is Always the Best Option
Another common belief is that selling the home is the simplest solution for property division. However, while selling can simplify the process, it’s not always the best financial or emotional decision for both parties involved. Each case should be evaluated individually, considering the unique circumstances and needs of the divorcing parties. Sometimes, keeping the home or exploring alternative arrangements may be more beneficial.
3. Equity Equals Market Value Minus Mortgage
Many assume that calculating equity is straightforward—just subtract the mortgage from the market value. In reality, true equity calculations are more complex and should include other factors like equity lines, selling costs, agent commissions, closing costs, and potential capital gains. Overlooking these elements can lead to inaccurate equity assessments and unfair settlements.
4. Refinancing is Easy and Always Possible
Finally, there’s a misconception that refinancing is a simple and always viable option post-divorce. Refinancing can be particularly challenging, especially for a spouse relying on a single income. Qualifying for a mortgage post-divorce requires sufficient income, a good credit history, and assets. Without these, refinancing might not be feasible, adding another layer of complexity to property division.
How a CDRE Can Help Your Practice
By partnering with a Certified Divorce Real Estate Expert, you can ensure that your clients receive professional guidance tailored to their unique situations. As a CDRE, I bring a wealth of knowledge and a neutral stance, helping to mitigate conflicts and streamline the division process. My extensive training and experience enable me to handle high-conflict cases with ease, providing peace of mind for both you and your clients.
Improve your divorce practice and provide unparalleled support to your clients by partnering with a Certified Divorce Real Estate Expert.
Eager to explore how my services can assist you? Please visit my website at www.RHHomeSweetHome.com or you can reach me directly at (619) 302-3119 to schedule your personalized and confidential consultation.