Minneapolis/St. Paul, MN Divorce & Real Estate 101: What Both Divorcing Parties Needs to Know Before Listing their Home
Divorce is a significant life change that often involves dividing assets—including the marital home. For divorcing couples in Minneapolis and St. Paul preparing to list their property as part of a divorce, understanding the legal, financial, and practical considerations is essential. Being informed helps protect your interests, reduce stress, and set the stage for a smooth sale.
Here’s a must-read checklist to guide you through the process before listing your home during divorce.
Understand Your Legal Obligations
Know the Court Orders: Confirm any court mandates related to the sale, including timelines, price approvals, or proceeds distribution.
Consult Your Family Law/Attorney: Your lawyer can help clarify property division terms and advise on disclosure requirements.
Title and Ownership Issues: Determine if both names are on the title and mortgage and how ownership will be handled post-sale.
Evaluate the Financial Impact of Selling Your Home
Review Outstanding Mortgages and Liens: Determine the remaining balances on your mortgage(s) and any existing liens to understand how they will affect your net proceeds from the sale.
Estimate Total Selling Costs: Account for all potential expenses, including real estate commissions, closing costs, necessary repairs, staging, and any applicable capital gains taxes.
Plan for Your Financial Future Post-Sale: Understand how the proceeds will be allocated, particularly in the case of divorce, and establish a clear plan for your next living arrangement and overall financial goals.
Prepare the Home for Market
Address Repairs and Maintenance: Fix major issues that could reduce value or deter buyers.
Declutter and Stage: Create a welcoming, neutral space to appeal to a broad range of buyers.
Professional Photography: High-quality images make a strong first impression online.
Choose the Right Real Estate Professional
Work with a Certified Divorce Real Estate Expert® (CDRE®): A CDRE® is specially trained to navigate the complexities of divorce-related home sales. They serve as a neutral third party, ensuring both spouses are treated fairly throughout the process.
Prioritize Local Market Expertise: Working with a professional who knows the Minneapolis–St. Paul area is essential. A local CDRE® like Shannon Lindstrom with RE/MAX Results can accurately price your home and strategically market it to attract the right buyers.
Communication & Cooperation
Prioritize Professionalism: While emotions may be heightened during this time, maintaining respectful and cooperative communication between both spouses and involved professionals is key to ensuring a smoother transaction.
Ensure Clear Communication: Keeping your attorney, Certified Divorce Real Estate (CDRE®) professional, and former spouse informed throughout the process promotes transparency and minimizes unexpected challenges.
Timing Is Key
Plan the Listing Timeline: Align with legal deadlines and personal readiness.
Be Flexible: The sale process can be unpredictable; patience is important.
Moving Forward
Selling a marital home during divorce is never easy, but with the right knowledge and support, you can navigate it with confidence. Understanding the legal, financial, and practical sides of the process helps protect your interests and paves the way for a fresh start.
Ready to List and/or Need Guidance?
If you’re preparing to sell your home in the Minneapolis–St. Paul area as part of a divorce, I’m here to help. As a Certified Divorce Real Estate Expert® (CDRE®) and local Realtor®, I specialize in guiding clients through this transition with care, clarity, and professionalism.
Shannon Lindstrom, Realtor®, CDRE®
RE/MAX Results
Direct: 612-616-9714
Lindstrom_S@msn.com
Shannon@ShannonLindstromRealtor.com
www.ShannonLindstromRealtor.com
www.ShannonLindstrom.info
https://www.ilumniinstitute.com/cdre/shannon-lindstrom
Serving the Twin Cities & Surrounding Communities
