Thought I'd do a quick blog with some tips and pointers about divorce and real estate. It's a ugly matter, but it has to be discussed, and a lot of people don't know anything about it. They go through it blindly and they come out the other end regretting a lot of decisions they made along the way. I've sold hundreds of homes and out of that I'd say probably about 100 for clients that were getting divorced. At the time, I was happily married - I didn't think about anything on the other side. But now that I've been through the other side, and I am divorced, I realize all the pitfalls and all those stresses they went through. I thought I'd do this blog to give some tips and pointers and help people out that are contemplating or going through the divorce in the early stages. I've seen some good divorces and some bad ones. I've met with clients that are divorcing and they couldn't even be in the same room. And then there's other clients that I've met with that shocked me when they told me they were getting divorced. But they did, and they successfully went through it and they did it cheaply, which was nice - and quick - which was even nicer! 

So some questions: Do you need a lawyer? That's one thing I hear all the time, "Cliff, do you know a good lawyer?" You don't necessarily need a lawyer, a lot of the time you can do it yourself. You can't use a paralegal though, just keep that in mind. Paralegals aren't allowed to practice family law. What's the reason for that? Well, I'll tell you this, it's very lucrative. So that's why lawyers don't want to, they have a strangle-hold on it, they don't want to let that go. They want to keep it as long as they can. Eventually, it will open up to paralegals and then the costs will come down significantly. You can do it on your own and then get things notarized by a notary, at the end to save some money. But you have to have two parties, you and your ex, working together, which is not easy to do. 

Another question: Do you have to sell your house? Not necessarily. Sometimes you can hold onto it. One of the partners can hold onto it and buy the other one out. But you should get an evaluation on the house and that's where a guy like me comes in. 

Another important question: Do you have to use a realtor? Not necessarily. If you choose to sell, you can sell privately, if you want. You could sell to a friend or a family member. But if you can, why am I doing this blog? Of course, call me if you have to sell, I'll help you through it. Call me for advice. 

I'd like to give you another small tip.  When you get divorced, you sell your house and the money goes to a lawyer's trust account. It could sit in that trust account for years, depending on how long you battle it out. And it will sit in that trust account earning zero interest. When you do sell that major asset and it goes into the trust account of the lawyer, request that it goes into an interest-bearing account. Then at least you'll earn 1% on your money, which is better than nothing. At the end of the two, three years or however long it takes, you're going to end up losing money anyways. But it's better earning 1% than earning zero. If you would like to request any further information on the topic, please give me a call - I'd be happy to help -no obligation!

Take care and stay safe.