What Happens If You Cannot Decide On A Realtor During Your Divorce Process?
When a divorcing couple cannot agree on a realtor it can complicate the process of selling a jointly owned property. Here are a few options to help both parties agree on the right Realtor.
Mediation and Negotiation
Ideally, the divorcing couple should attempt to reach an agreement through mediation or negotiation. This might involve discussions about the selection of a realtor, the terms of the sale, and the division of proceeds.
If negotiations fail, the court might step in to resolve the issue. The court could order the appointment of a neutral third party, such as an attorney or a realtor based on their expertise.
Appointing Two Separate Realtors
In some cases, the court might allow each spouse to choose their own realtor. However, this approach can be more costly and might lead to potential conflicts between the Realtors representing each spouse.
Agreeing to Common Criteria
Another approach is for both parties to agree on a set of criteria that the realtor must meet. For example, they could agree on certain qualifications, experience, or reputation that the realtor should possess. Then, they can research and select a realtor who meets these criteria.
Selling Through an Attorney
In some situations, the divorcing/separating couple might decide to sell the property through their respective attorneys. This approach can avoid direct interaction between the spouses but might also result in slower progress and higher costs.
One Party Buys Out the Other
If one spouse is interested in keeping the property and buying out the other spouse’s share, the issue of selecting a new realtor might become less relevant. However, this would require financial agreements and valuations of the property to determine the fair buyout process.
In extreme cases where the couple cannot reach an agreement and the court deems it necessary, the court might order the sale of the property, regardless of the realtor dispute. This approach is usually a last resort.
It’s important to note that divorce/separation laws and procedures can vary depending on the jurisdiction, so the specific outcome can differ based on your location. If you find yourself in this situation, it’s advisable to consult with legal professionals who are familiar with divorce/separation and real estate laws in your area. This can help you understand your obligations and options for choosing a Realtor.