Case Study: Somers Divorce Sale

The sale of the matrimonial home can take place at different stages of the divorce. Sometimes both spouses still live in the property. Sometimes one or both have moved out. Sometimes the property is sold after the divorce is final and it is the last thing outside of children that they hold in common. This was the latter. To complicate things, it was also a short sale. To complicate matters further, the two clients were not exactly in harmony.

The myriad of issues we faced included the property condition, the need for a short sale from their lender, and of course the concerns of the buyer with what would be a longer and more drawn out process than a typical sale. Again, and I can never stress this enough, the attorney for the seller in a short sale can make or break the transaction. The clients, while not seeing eye to eye on many things, agreed with my attorney recommendation and that worked out for them.

The listing went on the market in the dead of winter, which made managing the condition of the property challenging. It was a big house on a hill with acreage, so snow and cold were a source of concern. We did have some good luck, however, and by early spring we had a contract with the buyer.

With that out of the way, we then had an uphill battle with the lender getting the short sale approved. it took 10 months before it closed. That timeframe was rough on both the buyers and the seller. The buyer’s agent was communicative, and we kept things together while waiting for the lender’s approval despite our share of tense moments.

The house had been on my radar for some time prior to taking the listing. I had been in some contact with the sellers prior to their divorce, and I think one of them remembered me from our first discussions years earlier. They had the home listed with another broker for a long while and it had expired unsold before I was hired.

After closing, one of the clients write these kind words in an online review of me:

My house had been on the market for years before I turned the listing over to J. Philip Real Estate. My only regret is that I did not do it much sooner. Thanks to Phil and his savvy team, a new chapter in my life has finally begun!

Phil and his associates were extraordinary in dealing with the many difficult and complicated issues associated with the sale of a distressed property. They went beyond the call. I am especially grateful for their wisdom and experience in marketing, their fairness in negotiating, and their timeliness and sensitivity in communicating throughout the process.

P. S. The real estate attorney Phil put me in touch with is amazing. Both of them are miracle workers!

It was gratifying to read that for me, and I’m happy my client did indeed commence with their new life.

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