Frequently Asked Questions

How will I know what my home is worth?

A comparative market analysis is the tool used which takes into account homes in the area that have recently sold, homes that are pending (under contract but not closed yet), and homes that are currently for sale. This data, along with current market conditions, helps determine the market value. Jennifer comes up with a competitive list price that is neither over nor under priced to attract the most buyer interest. 

If I keep the house and the other spouse has to move out, do I have to refinance the mortgage?

Usually, yes. Unless your ex is extremely generous and doesn’t mind co-owning the debt of the house, you will likely have to refinance and buy the other person out of their share. An experienced mortgage banker can help make sense of all the numbers. 

Once I file for divorce, does one of us have to move out ?

Unless there is a court order (for example, in the case of domestic violence) you cannot be forced to leave your home. Now, it can be very uncomfortable and downright toxic to remain in the home together during the process, but financially it often makes more sense to take your time with either selling the home or figuring out who will remain in the home. 

My spouse says that he/she has been paying the mortgage all these years, and thus the house belongs to them. Is this true?

This all depends on what state you live in, whether you bought the house while married, any prenup in place, and if you are both on the deed. There are numerous factors that help decide the division of the owned property, and keep in mind that this is a matter that can be negotiated during a divorce. If you sold your condo that you bought when you were single in order to put a downpayment on the house you bought with your spouse, it will be important to show that you owned that asset (the downpayment) before you were married. Again, this all comes down to the established laws in your state and the negotiations between the separating parties.

What happens to the money if the house sells before the divorce/separation is final?

Often, when the marital home is sold during the divorce, both spouses receive a percentage of the proceeds, and the rest is kept in escrow to be disbursed in accordance with the final agreement. 

If we're selling the marital home during a divorce, will buyers know?

Buyers and their agents should never be aware that the sellers are in the midst of a divorce. This creates leverage for the buyer who believes that the sellers are desperate to sell quickly, and this is not favorable to the sellers. Jennifer knows how to stage a “happy home” for showings (Hint: if you’re sleeping on the couch, you are not just stashing your blankets and pillows in the closet!). Buyers will feel a warm and loving environment when they walk through the front door. 

What if my soon-to-be ex and I don't agree on the list price for the house?

This is where the comparative market analysis (CMA) comes in. The data does not lie. Jennifer is skilled at working collaboratively with both parties, even if those conversations need to be separate, to work toward a common goal. 

Will I be able to buy a new home on my solo income?

Speak with a mortgage lender who will know how to pre-approve you based on your income, alimony, and child support. Speak to them sooner rather than later, so you have an idea of what you can afford, and what you might need to negotiate in the final divorce agreement.