House sales can become extremely complicated when they are the result of a divorce and two problems commonly occur.
Discussing this, Lanice Steward, MD of Anne Porter Knight Frank (APKF), said that her agents have learned to tread warily, particularly when one of the parties in the divorce decides to buy a new home before the divorce has gone through.
This, she said, is not a wise move because the new house will form part of the estate and will, in fact, be jointly owned by both parties until the divorce is finalised.
Then, too, there is the problem that the divorcing couple often refuse to cooperate in selling the home. Signatures of both parties are required when a couple is married in community of property, but for a whole variety of reasons one of the couple may decide to hold back – very often using this refusal as a lever to get a settlement.
Delays caused by this have on more than one occasion resulted in the buyer going elsewhere, said Steward.
For more information contact Lanice Steward on 083 648 6655 or send an email.
Readers' Comments
Have a comment about this article? Email us now..
Property News
Click here for more property news articles.
Need a blog?
Start your own blog with a free blog from 24.com.
