Divorce Real Estate FAQs

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

What is a CDRE?

Ilumni Institute has created and designed the highly competitive application process to become a CDRE®. A Certified Divorce Real Estate Expert® (CDRE®) is a real estate professional who has undergone specialized training to address the unique challenges associated with real estate transactions in the context of divorce.

As an expert, Katina Farrell is equipped to navigate the legal, financial, and emotional complexities that often arise during divorce proceedings. Aims to provide neutral and unbiased support to individuals going through a divorce, helping them make informed decisions about their real estate assets. The certification signifies a commitment to professionalism, understanding the nuances of divorce-related real estate, and the ability to assist clients in achieving favorable outcomes amid the complexities of divorce.

Is a CDRE necessary for real estate transactions in divorce?

Hiring a real estate divorce expert goes beyond simply listing your home for sale, and here are key reasons why:

Neutral Third Party: As a Certified Divorce Real Estate Expert (CDRE), we maintain a neutral stance, offering additional advice that leads to logical and rational decisions regarding your home. Amid the emotional challenges of divorce, our extensive training helps families navigate the process and make choices beneficial in the long run. We remain so neutral that, while listing your home, we refrain from representing either party in their search for a new home.

Experience With Family Law Cases: CDREs possess a comprehensive understanding of both family law and real estate. It’s crucial to work with someone familiar with court proceedings, effective communication with or without attorneys, and potential case outcomes. Having an expert with this dual knowledge saves you both time and money.

Avoid Financial Mistakes: Dealing with legal paperwork or hiring an agent unfamiliar with divorce situations can lead to financial errors. Non-experts may backtrack in your transaction, causing stress and additional financial burdens. A divorce real estate expert brings diplomatic and neutral expertise to the table, minimizing the risk of mistakes in a situation where emotions can run high.

How long have you been in the real estate industry?

Bringing over 24 years of real estate expertise as a Realtor®, Katina has adeptly navigated the evolving landscapes of real estate markets. In addition to her extensive background in traditional real estate, Katina Farrell boasts noteworthy credentials as a Certified Divorce Real Estate Expert® (CDRE®) and a Certified Divorce Specialist (CDS). Her recognized authority in family law-based real estate matters spans across Colorado, solidifying her standing as a trusted professional in the field.

Why do you need expert legal advice on real estate matters in a divorce?

Experts in finance, real estate, and taxes can help simplify complex matters, appraise properties, and provide guidance in divorce cases. Hiring an attorney and a specialized real estate agent is recommended for best results.

(Source: Foundation Divorce Solutions)

How to find a good divorce real estate agent?

To find a trusted real estate agent during a divorce, seeking recommendations from family and friends or conducting a Google search can be helpful in identifying agents with experience in handling divorce cases.

(Source: Max Real Estate Exposure)

What are some challenges that may come up in a real estate transaction during a divorce?

Real estate transactions involving divorce can be complex, and various issues may arise during the process. Some common challenges include:

Property Division: Determining how to divide the marital home or other real estate assets can be a contentious issue. Deciding whether to sell the property, buy out the other spouse, or continue co-owning requires careful negotiation.

Valuation Disputes: Assessing the value of real estate assets can lead to disagreements. Determining an accurate and fair market value is crucial, and differing opinions may arise, impacting the overall division of assets.

Emotional Decision-Making: The emotional aspects of divorce can influence decision-making regarding real estate. Individuals may make choices based on sentiment rather than financial considerations, affecting the outcome of property division.

Mortgage and Loan Obligations: Deciding who will be responsible for the mortgage payments, property taxes, and other financial obligations can be challenging. Ensuring clarity on these matters is crucial to avoid financial strain on both parties.

Buyout Logistics: If one spouse wishes to keep the property, determining the financial logistics of a buyout can be intricate. Arranging for refinancing or adjusting other aspects of the settlement to facilitate the buyout requires careful consideration.

Coordinating Sale Logistics: When selling a property, coordinating the logistics of the sale, such as preparing the home for listing, showings, and managing offers, can become complex, especially when communication between divorcing parties is strained.

Legal Compliance: Adhering to legal requirements and ensuring that the real estate transaction aligns with the divorce settlement is crucial. Failure to comply with legal obligations can lead to complications down the line.

Title and Ownership Issues: Resolving title and ownership matters is vital. Clearing any title issues and ensuring that the transfer of ownership is executed correctly is essential for a smooth real estate transaction.

Tax Implications: Real estate transactions in divorce can have tax implications. Understanding the tax consequences of selling, buying out, or transferring ownership is important for making informed decisions.

Navigating these issues often requires the expertise of professionals, including real estate agents with experience in divorce transactions, financial advisors, and legal counsel specializing in family law.

Can you be forced to sell your house in a divorce?

In divorce cases where spouses cannot agree on the division or sale of a house, a court can order a forced sale or partition sale. Proceeds are divided based on ownership percentages, and a real estate agent is typically involved in the sale process. 

(Source: Orchard Orchard)

Do houses or property always have to be sold in a divorce?

Selling the family home is not a requirement in divorce, and couples have various options, including joint ownership, buyout, or transferring ownership. If there is a dispute, a judge can decide whether one party keeps the home or if it should be sold, typically during a temporary orders hearing.

(Source: Samuelson Hause)

What happens to real estate in a divorce?

Marital property, acquired or used during the marriage, is typically considered jointly owned and must be divided fairly in a divorce.

(Source: HG Legal Resources)

What is the best way to sell a house during a divorce?

The simplest way to sell your home during a divorce is through a stipulation that becomes a court order. This written agreement with your spouse covers key details like choosing a real estate professional.

(Source: Divorce Net)

How to keep my house in a divorce if we both own it?

To keep your house in a divorce, you can buy out your spouse’s share of the equity or agree to sell and divide the proceeds. Removing your ex’s name from the property requires a Quitclaim Deed, and co-owning the house after divorce is uncommon unless both parties agree.

(Source: Legal Templates)

What determines who gets the home in a divorce?

In a divorce, ownership of the house is evaluated by a judge or mediator. If the house is solely in one partner’s name, they usually keep it. Marital property is divided, while separate property is retained by the rightful owner.

(Source: Ulmer Law)

Who owns the property after a divorce?

In divorce, separate property is kept by each spouse, while community property is divided equally. The court usually sells the house and splits the proceeds according to state laws, rather than ordering co-ownership.

(Source: Divorce Net)

Call Now