Posted on: 15th May, 2009 08:23 am
I have gone through a divorce but both of our names are still on the house. The renters we have say they have found a lender who is willing to work with them. My ex is in the military and out of the country. I just want the house to be sold already. What all goes into the selling? I'm a bit naive with all of this. Will I have to come up with any money at the time of closing? Please help.
in selling the home, i think you'd be wise to engage an attorney to help you out. that way, you can ensure that you've covered everything that's needed to be done.
do you, by chance, have power of attorney for your ex-husband? that would be helpful, but even if you don't, he can appoint you or someone else as power of attorney for this one transaction, which would be useful, given his deployment overseas.
as for coming up with any funds, it depends on how much you owe on the home at the time you sell. if you owe more than your renters are willing to pay, then you'll have to negotiate with your lender to see if a short sale would be acceptable. again, having legal counsel would probably be quite helpful if that's the case.
do you, by chance, have power of attorney for your ex-husband? that would be helpful, but even if you don't, he can appoint you or someone else as power of attorney for this one transaction, which would be useful, given his deployment overseas.
as for coming up with any funds, it depends on how much you owe on the home at the time you sell. if you owe more than your renters are willing to pay, then you'll have to negotiate with your lender to see if a short sale would be acceptable. again, having legal counsel would probably be quite helpful if that's the case.