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When married homeowners separate, there is usually a formal divorce process addressing property.
When unmarried homeowners separate, they may suddenly realize:
“We own a $600,000 house together and have absolutely no process for dealing with it.”
That is when the house needs to stop being treated like part of the relationship and start being treated like a jointly owned financial asset.
First, find the facts
Find out exactly how title is held.
Find the mortgage documents.
Determine whether there is a HELOC.
Find any co-ownership agreement.
If there is a legal dispute about who owns what, involve an attorney.
If both owners agree to sell
If both owners agree to sell, Lisa can help create a professional real-estate process that is separate from the breakup.
That means buyers don't need to know the story.
The listing doesn't need to say “motivated breakup sellers.”
The home can simply be marketed as a home.
Agree on practical procedures before listing
Before listing, the former partners should agree on practical procedures.
- Who lives there?
- How much showing notice is reasonable?
- Who takes care of pets?
- How will offers be reviewed?
- What happens if a repair is needed?
- When will the occupant move?
Lisa can keep transaction communication organized so the sellers do not need to negotiate every showing through emotional text messages.
Do not punish the property
One particularly important rule:
Do not punish the property.
If you rip down a fixture because “I paid for it,” the buyer doesn't know your relationship history.
They just see damage.
If you refuse every showing because your ex wants the house sold, the market doesn't punish your ex.
The property simply gets less exposure.
If both people have value tied up in the house, protect that value.
Explore the buyout before listing
And if one person would rather keep the home, explore the buyout before listing.
There is no prize for selling a property that could have been transferred cleanly between owners if that solution genuinely worked better.
Lisa can help you evaluate both possibilities.
Important
Start with the facts about the property: We Bought a House Together but We're Not Married, then How to Buy Out a Co-Owner before you decide between keeping and listing.
