Sale of home due to divorce

[Diego Mamani]

Of course, you can always wait for that magical 2005 price level to come back. If inflation really takes off, that may be in 2-3 years, as opposed to 5-10 years from now.

You could rent the place out if you wanted to wait. You can hire a management company to take care of advertising, leasing, and maintenance; for a fee they’ll collect rent and send you and your ex a nice chunk of change every month.

OTOH, your ex could take out a personal loan and give her interest in the house as collateral. Hmmm… unless you trust your ex’s financial judgment, it may be wiser to sell the house and cut all ties!

[Coronita]

[quote]We purchase in 2000 with a 15yr fixed.
I’m kinda pissed since we would have been mortgage free in 7 more yrs.
Oh well….back to the drawing board…..back to the start of a lot of things actually.
[/quote]

You could consider letting one of you rent the rest of the portion to the other… A neighbor of mine did that apparently for 7-8 years. I guess it depends on your situation. If the two of you plan on being on civil terms, perhaps it’s doable. If you guys cant stand each other, I guess you probably don’t want to have to deal with each other moving forward. Don’t know your specific situation, nor do you really need to elaborate. Good luck to you man.

[Coronita]

[quote]We purchase in 2000 with a 15yr fixed.
I’m kinda pissed since we would have been mortgage free in 7 more yrs.
Oh well….back to the drawing board…..back to the start of a lot of things actually.
[/quote]

You could consider letting one of you rent the rest of the portion to the other… A neighbor of mine did that apparently for 7-8 years. I guess it depends on your situation. If the two of you plan on being on civil terms, perhaps it’s doable. If you guys cant stand each other, I guess you probably don’t want to have to deal with each other moving forward. Don’t know your specific situation, nor do you really need to elaborate. Good luck to you man.

[Coronita]

[quote]We purchase in 2000 with a 15yr fixed.
I’m kinda pissed since we would have been mortgage free in 7 more yrs.
Oh well….back to the drawing board…..back to the start of a lot of things actually.
[/quote]

You could consider letting one of you rent the rest of the portion to the other… A neighbor of mine did that apparently for 7-8 years. I guess it depends on your situation. If the two of you plan on being on civil terms, perhaps it’s doable. If you guys cant stand each other, I guess you probably don’t want to have to deal with each other moving forward. Don’t know your specific situation, nor do you really need to elaborate. Good luck to you man.

[Coronita]

[quote]We purchase in 2000 with a 15yr fixed.
I’m kinda pissed since we would have been mortgage free in 7 more yrs.
Oh well….back to the drawing board…..back to the start of a lot of things actually.
[/quote]

You could consider letting one of you rent the rest of the portion to the other… A neighbor of mine did that apparently for 7-8 years. I guess it depends on your situation. If the two of you plan on being on civil terms, perhaps it’s doable. If you guys cant stand each other, I guess you probably don’t want to have to deal with each other moving forward. Don’t know your specific situation, nor do you really need to elaborate. Good luck to you man.

[Coronita]

[quote]We purchase in 2000 with a 15yr fixed.
I’m kinda pissed since we would have been mortgage free in 7 more yrs.
Oh well….back to the drawing board…..back to the start of a lot of things actually.
[/quote]

You could consider letting one of you rent the rest of the portion to the other… A neighbor of mine did that apparently for 7-8 years. I guess it depends on your situation. If the two of you plan on being on civil terms, perhaps it’s doable. If you guys cant stand each other, I guess you probably don’t want to have to deal with each other moving forward. Don’t know your specific situation, nor do you really need to elaborate. Good luck to you man.

[patientlywaiting]

[quote=SD Realtor]

My one last piece of advice is that if you think things will turn around in 2009, I would heavily disagree. I think we may see a small rally in spring of 2009 like we say in 2008 if you want to call it that. However we could indeed rough seas after that due to another wave of foreclosures.

I don’t mean to be overly pessimistic, just realistic. [/quote]

SD Realtor, I see more pessimism in your posts now than a while back when you were making low-ball offers. Are you still making low-ball offers in your desired area?

[patientlywaiting]

[quote=SD Realtor]

My one last piece of advice is that if you think things will turn around in 2009, I would heavily disagree. I think we may see a small rally in spring of 2009 like we say in 2008 if you want to call it that. However we could indeed rough seas after that due to another wave of foreclosures.

I don’t mean to be overly pessimistic, just realistic. [/quote]

SD Realtor, I see more pessimism in your posts now than a while back when you were making low-ball offers. Are you still making low-ball offers in your desired area?

[patientlywaiting]

[quote=SD Realtor]

My one last piece of advice is that if you think things will turn around in 2009, I would heavily disagree. I think we may see a small rally in spring of 2009 like we say in 2008 if you want to call it that. However we could indeed rough seas after that due to another wave of foreclosures.

I don’t mean to be overly pessimistic, just realistic. [/quote]

SD Realtor, I see more pessimism in your posts now than a while back when you were making low-ball offers. Are you still making low-ball offers in your desired area?

[patientlywaiting]

[quote=SD Realtor]

My one last piece of advice is that if you think things will turn around in 2009, I would heavily disagree. I think we may see a small rally in spring of 2009 like we say in 2008 if you want to call it that. However we could indeed rough seas after that due to another wave of foreclosures.

I don’t mean to be overly pessimistic, just realistic. [/quote]

SD Realtor, I see more pessimism in your posts now than a while back when you were making low-ball offers. Are you still making low-ball offers in your desired area?

[patientlywaiting]

[quote=SD Realtor]

My one last piece of advice is that if you think things will turn around in 2009, I would heavily disagree. I think we may see a small rally in spring of 2009 like we say in 2008 if you want to call it that. However we could indeed rough seas after that due to another wave of foreclosures.

I don’t mean to be overly pessimistic, just realistic. [/quote]

SD Realtor, I see more pessimism in your posts now than a while back when you were making low-ball offers. Are you still making low-ball offers in your desired area?

[moneymaker]

Advice from a “novice”. Forget about Zillow as far as appraisal goes. The only use I’ve found for Zillow is looking at a picture and maybe getting an idea if the area/house is going up or down, usually down and by how much per month. Most people going through divorce just want out,so I suggest pay for a professional appraisal and then drop it by more each month than Zillow says it is going down by, how much more of course is up to you.

[moneymaker]

Advice from a “novice”. Forget about Zillow as far as appraisal goes. The only use I’ve found for Zillow is looking at a picture and maybe getting an idea if the area/house is going up or down, usually down and by how much per month. Most people going through divorce just want out,so I suggest pay for a professional appraisal and then drop it by more each month than Zillow says it is going down by, how much more of course is up to you.

[moneymaker]

Advice from a “novice”. Forget about Zillow as far as appraisal goes. The only use I’ve found for Zillow is looking at a picture and maybe getting an idea if the area/house is going up or down, usually down and by how much per month. Most people going through divorce just want out,so I suggest pay for a professional appraisal and then drop it by more each month than Zillow says it is going down by, how much more of course is up to you.

[moneymaker]

Advice from a “novice”. Forget about Zillow as far as appraisal goes. The only use I’ve found for Zillow is looking at a picture and maybe getting an idea if the area/house is going up or down, usually down and by how much per month. Most people going through divorce just want out,so I suggest pay for a professional appraisal and then drop it by more each month than Zillow says it is going down by, how much more of course is up to you.

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