Chicago Divorce Real Estate Specialist
The Expert Real Estate Professional You Never Knew You Needed
Protect Your Family’s Financial Future with the Help of a Chicago Divorce Real Estate Expert
The marital home typically represents a whopping 60% of a family’s net worth. Yet, there is almost no state-prescribed guidance on divorce real estate. So, it’s no surprise that many couples end up making poor decisions that can have crippling effects for years to come.
In most cases, due diligence is not done upfront and choices are guided by emotion and insufficient information. By the time they have the complete picture of both spouses’ finances and the status of the home, it’s too late to go back and do things right. And the mistakes that are made are the kind that destroy finances, families and futures for a long time.
It might be hard to imagine the sort of damaging outcomes we’re referring to, so here are a few examples of real situations we’ve seen:
- One woman was forced to declare bankruptcy after her ex-husband’s mortgage refinance application was denied. Even though he had kept the house in the divorce, they still had a joint mortgage, which was foreclosed on.
- One man discovered that his ex-wife’s $216,700 pre-marital debt became his debt even after the divorce. It was recorded as a lien against the house’s title during the marriage. But since he’d kept he house, the debt now belonged to him as well.
- Even an experienced realtor learned the hard way that paying off a home equity debt does not cancer the account. Her ex-husband had secured a $25,000 loan against the home, and now that was her responsibility as the sole homeowner.
These are just a few examples of the many things that can go wrong during a divorce that involves shared property. We don’t say this to scare you, but to make sure you’re fully aware of the risk of going into a divorce property settlement blind.
When you work with an RCS-D™ Realtor (Real Estate Collaborative Specialist-Divorce), you can rest assured that both spouses will have al the facts needed to make the right decisions. As a neutral third party, we don’t represent either spouse – our role is simply to help you both determine where you stand and what each of your futures will look like depending on the path you choose.
Not sure if you really need the help of an RCS-D™ Realtor? Here are a few questions to consider:
- What is the balance of your mortgage?
- What is the minimum monthly payment?
- What other monthly expenses are associated with the home?
- Is the mortgage in both spouses’ names?
- Have either of you ever remortgaged the home?
- Are there any liens in one or both names?
If you don’t know the answer to any of these questions, then it’s in your best interest to get a Chicago divorce real estate expert involved. As an @Properties Top 100 Broker in Chicago, I have over 20 years of experience in the industry. I’m known for the personable and knowledgeable service I bring to both buyers and sellers in the real estate market.
When it comes to the decisions you make during your divorce, the best thing you can be is informed. Fortunately, I have the Chicago real estate know-how and divorce expertise to ensure that you and your spouse will both do what’s best for your future.
Even if you’re still not certain that you’d benefit from working with an RCS-D™ Realtor, there’s no harm in getting in touch. We offer free consultations, as well as complimentary and fee-based information regarding:
- Complete home valuation that takes into account liquid assets (e.g. pension/retirement accounts)
- Essential evidence of house value that’s admissible in court
- Critical divorce real estate counseling for divorcing homeowners.
Don’t hesitate to start this process - in divorce, real estate sooner is always better! Click here to get in touch now.
Leslie Glazier | Broker