Since a part of our practice is devoted to short sales, divorce can be one of the situations we find prevalent. It can be that the lack of finances due to unemployment or underemployment has put a strain on the family's finances.
Often, one member of the couple "knows' that if she/he just asks one more realtor....they know the equity they imagined...they wanted, they needed to start over will be there somewhere....after all the "assessment is....the appraisal was....they got the home equity loan for...so it HAS to be true....that same bank that gave them the loan can't now say it appraises for less....Sometimes divorce not only shatters the relationship, it also dents the dream of starting over with the money from the sale of the home that was marital property.
We often find realtors who have been hired by a friend of one member of the couple....who has told them what they wanted to hear....and has held up the progress of the divorce, the sale of the property and the opportunity to begin their lives over....the house isn't selling because it is priced too high. It doesn't begin to compare to other homes in the imagined higher price range. The husband/wife doesn't understand how just one more thing could go wrong......the good news is that a short sale can make starting over easier....not immediate...but possible a lot more quickly and easily than a foreclosure. In southeastern Wisconsin...if your home has been on the market for 120 days or more without an offer...you have held the price line that you want...that you believe you need...you are most probably delaying your happily ever after. Just like you wanted to know the truth about your relationship and made the decision to end it....sometimes ending this chapter of your life with the sale of a home.....a traditional sale of a short sale...is the best way to start the next chapter of your life.