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House being sold in the divorce? Here are points you must consider

Is your house being sold in the divorce? Things to be certain to consider include:

Things to include in divorce settlement if you are selling the house:
• Agent.
• Who pays for repairs/updates to get the house ready to list?
• How are the proceeds divided?
• Who picks the price? (Agent)
• How much commission should be paid? (6% plus $399 administrative fee)
• How long should the house be listed before taking a price reduction? The National Association of Realtors says that if you go two weeks without a showing, or 10 showings without an offer, the house is over-priced.

If you have decided to sell your house now that the divorce is final, what must you do?
• Contact real estate agent to discuss repairs, updates and staging;
• Contact a lender to get pre-qualified for a loan for your next home;
• Look online and at open houses.

If the Court is going to order your house sold as part of the divorce, what should your attorney fight to get included in the Judge’s Order?
• Agent.
• Who pays for repairs/updates to get the house ready to list?
• How are the proceeds divided?
• Who picks the price? (Agent)
• How much commission should be paid? (6% plus $399 administrative fee)
• How long should the house be listed before taking a price reduction? NAR says that if you go two weeks without a showing, or 10 showings without an offer, the house is over-priced.

The information for this article was provided by Cindy Lacks, a St. Louis real estate agent. Cindy may be reached at 314-495-3713. Visit her website at CindyLacks.com.