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Location: As of 2022….back to SoCal. OC this time!
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Quote:
Originally Posted by ea1420
I’ve recently found a home I love and meets all my requirements and then some, but the home owners are divorcing. And it’s a contentious divorce. The wife currently resides in the property and was given six months to sell the home FSBO. After that time it was to be listed by an agent. The listing was supposed to go live a few weeks ago, but the wife keeps coming up with excuses about not being available to sign the listing paperwork or having the time to prep the house, etc. The listing agent chosen knows I’m interested and has asked to schedule a showing, which the wife agreed to and now finds reason to reschedule (which as I live several hours away is a significant inconvenience). The husband is in the process of going to court to force his ex to get the home listed and sold. However, I am wondering even if he manages that if I should walk away?
As a potential buyer how messy and painful could this situation get for me? What types of things should I be aware of?
My ex husband & I sold a house....tho our divorce wasn’t contentious & buyers weren’t aware of our business. IMO you are asking to be pulled into drama...over a showing? Walk away...there are other houses.
I don’t really understand making the process more difficult than it needs to be. If you can’t afford to buy out your spouse then selling is the only option. It’s not like dragging your heels means you will get to keep the house. I had a similar issue with my mother several years ago. She shared a house with my grandmother, and when my grandmother went into a nursing home, my mother could no longer afford the house she was in. But, getting her to prep that house for sale and sell it was like pulling teeth. It was if my mother thought if she ignored the fact that she had to sell would just make the reality go away. I mean she ended up selling her house and finding a smaller house she could afford, but she made the process a thousand times more difficult and it took three times longer than it needed to (plus cost her more money in the end) because she just refused to live in reality.
In terms of the FSBO, i suspect that may have been a negotiation point. All I know is that the husband has indicated in their divorce decree that it states that if the wife must list the house with a specific realtor by April 1 if she can’t sell it first through FSBO before then. So clearly, I think the rational parties involved realized that they had to have a concrete plan for selling that was clear and enforceable.
I don't understand why she wants to drag it out either. As I said I had no issue getting out when it sold because I wanted my share of the money so I could move on too.
I'm glad you decided to deal with it and not walk because it very well may be your home in the slim pickings market you're looking in. Keep us posted
Can we assume then that you've never been IN a divorce?
Nope. My parents incredibly ugly divorce with custody battle was reason enough to never tackle marriage.
However, to be fair, most my friends who I know who have gotten divorced didn’t fight over things like the house. Twenty seven million other things yes, but not the house. They could either afford it or they couldn’t,
For the last few months, I’ve been house hunting in a smaller town (think 15-20k) with a very limited number or properities that meet my requirements. My requirements (3-4 bedrooms, 2+ baths, and not near near commercial properties) wouldn’t be an issue in the Midwest city where I currently live, but are more challenging in this smaller town. I saw a couple of properties early on that I didn’t move quick enough on, that would have worked, but not much since.
I’ve recently found a home I love and meets all my requirements and then some, but the home owners are divorcing. And it’s a contentious divorce. The wife currently resides in the property and was given six months to sell the home FSBO. After that time it was to be listed by an agent. The listing was supposed to go live a few weeks ago, but the wife keeps coming up with excuses about not being available to sign the listing paperwork or having the time to prep the house, etc. The listing agent chosen knows I’m interested and has asked to schedule a showing, which the wife agreed to and now finds reason to reschedule (which as I live several hours away is a significant inconvenience). The husband is in the process of going to court to force his ex to get the home listed and sold. However, I am wondering even if he manages that if I should walk away?
As a potential buyer how messy and painful could this situation get for me? What types of things should I be aware of?
Have a lawyer to give you his legal opinion that the sale was ll be final. If you are getting a mortgage they should want to ensure the title
Nope. My parents incredibly ugly divorce with custody battle was reason enough to never tackle marriage.
However, to be fair, most my friends who I know who have gotten divorced didn’t fight over things like the house. Twenty seven million other things yes, but not the house. They could either afford it or they couldn’t,
Oh you've been lucky. My parents have been separated at least 3 times in my childhood. They ALWAYS fought over the house. I always thought it was a junky house and never understood why anyone fought over it. I couldn't wait to get out of that house. Even now when I visit I still have no idea why anyone fought over it. These are the type of people who will fight over which way the roll of toilet paper should hang and kill each other over it. Maybe that's why I don't care which way it hangs. I'm just happy to have enough!
About 10 years ago was also in the middle of the Mortgage Meltdown where deals were to be had and foreclosures everywhere. Todays market might be tougher.
But when it comes to divorce, as mentioned be prepared for a wild ride. On the other hand it could also go smoothly.
It's usually easier to buy once the divorce is finalized.
It was as our local market had already bottomed and started to rise so it must have been more like 7-8 years ago. 2013-2014
They had other offers before ours, but people backed away during initial negotiations because of their antics. In our recession, great homes in great neighborhoods, which this was, sold well.
I don't understand why she wants to drag it out either. As I said I had no issue getting out when it sold because I wanted my share of the money so I could move on too.
I'm glad you decided to deal with it and not walk because it very well may be your home in the slim pickings market you're looking in. Keep us posted
The thing I've seen in situations like this (CD, other) is that one party is not quite ready yet to 'move-on;' Often the wife who doesn't want to leave her home, where her children were raised, etc.. Adding in the COVID and related rental issues, she may find it difficult to locate a new place; thus, your purchase/move could be further delayed. Optionally, she and her ex may find it difficult to agree on sales terms, etc..
The fact that she is attempting a FSBO at this time, is a red flag. You/your realtor will have to deal directly with her and her ex ... and could find yourself in the middle of a messy situation.
Not really. The OP must be in a super hot market like mine.
The OP just needs to be creative. Offer a lower price and cash for keys if she gets out on time, or offer to pay for a packing and moving service.
Divorces can decimate people's personal finances and so the key to getting these difficult situations negotiated out is to understand what is stressing them out the most and then solve those problems.
Not really. The OP must be in a super hot market like mine.
The OP just needs to be creative. Offer a lower price and cash for keys if she gets out on time, or offer to pay for a packing and moving service.
Divorces can decimate people's personal finances and so the key to getting these difficult situations negotiated out is to understand what is stressing them out the most and then solve those problems.
It’s a more a factor of being in a small town than a super hot market. Don’t get me wrong it’s definitely a sellers market, but, the lack of inventory with my specs is more due to the fact that it’s a small town. There are houses that have been on the market for months (with three on th embarked for over a year), which is something that I don’t see where I currently live. But, lack of inventory is lack of inventory. No matter the reason.
However, I like thinking of this as figuring out what is stressing them out the most and seeing how I can mitigate those problems. I like that approach.
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My ex husband & I sold a house....tho our divorce wasn’t contentious & buyers weren’t aware of our business. IMO you are asking to be pulled into drama...over a showing?
Walk away...there are other houses.
