You do not need to know the answers before you start. You just need to know who to ask. This guide sorts the most useful questions by professional, so each conversation is focused and productive.
Questions for your attorney
- What restrictions apply to the home while the divorce is pending?
- Should we sell, or should one of us keep the home?
- How will the proceeds or equity be divided under our agreement?
- Who has to sign the listing agreement and approve offers?
- What is the expected timeline, and can the sale be scheduled around it?
Questions for your lender
- If one of us keeps the home, can that person qualify for a loan on their own?
- How will support payments be treated when calculating income and debts?
- What would a refinance cost, and how long would it take?
- What credit or documentation issues should we address first?
Questions for your tax advisor
- How might the sale be taxed, and what exclusions could apply?
- Does the timing of the sale matter?
- How should the cost basis of the home be determined?
Questions for your real estate agent
- What do you estimate the home is worth, and how did you get there?
- How will you share information with both of us?
- What preparation is worth doing, and what is not?
- How long will the sale likely take in the current market?
- How do you protect our privacy?
Keep the roles clear
An agent handles the real estate transaction. An attorney gives legal advice, a lender advises on financing and a tax advisor explains tax consequences. Rudy coordinates with your other professionals and stays in his role.
Write down the answers
Keep a simple notebook or file with what each professional tells you. It helps you compare advice and spot gaps.
General information only, not legal, tax or financial advice.
Talk to a lender. Rates, loan programs and approvals come from lenders, not from websites or real estate agents. Talk to your own mortgage broker, or use our preferred lender, Point Mortgage Corporation (NMLS #231073), at (619) 475-4095. You are always free to choose any lender you like, and you can verify any lender’s license at nmlsconsumeraccess.org.
Related reading
- Ask Rudy: San Diego County Real Estate Questions, Answered — Ask Rudy: San Diego County real estate questions answered in plain English, from buying and selling to…
- Sell Now, Buy Out Your Spouse, or Wait? Comparing Your Options for the Marital Home — There is no single right answer. Here is how the three common paths compare, so you can have a more informed…
- Divorce and Your Home: Frequently Asked Questions — Short, honest answers to the questions people ask most when a marriage ends and a house is involved.
- A Divorce and Home Glossary in Plain English — A divorce and home glossary in plain English: appraisals, interspousal transfers, base-year value…