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Divorce Poses Challenge to Someone Who Brokers Real Estate

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By : John Cutts    99 or more times read
For a person who brokers real estate sales, working with divorced couples is part of the job. However, the housing market crisis has made it more difficult for property brokers and real estate agents to handle such issues as parties encounter challenges in terms of selling off assets.

According to real property agents, a divorced couple or a wife and husband about to get a divorce are often forced to deal with real estate problems. For most of them, they prefer to sell off the house and divide the money between them. However, brokers report that the ongoing housing industry crisis has made it more difficult to sell off residences, which leaves both parties confused and more often than not, dissatisfied.

For one, most residences are now worth even less than the mortgage loans attached to them. This means that it is highly like that the property will be sold for less than its actual worth. A person who brokers real estate is then left with the uncomfortable task of letting his or her clients know that they are not to expect any profit from the sale. Or worse, that there is no buyer willing to purchase the house.

The owners are then left to deal with further complications, like who will take the financial responsibility for the property and how the debt will be divided between them. There is also the question of whether it will be detrimental or beneficial to move out of the property. According to real estate agents, it is not only them who are forced to deal with such problems, divorce lawyers are also often dragged into the picture as the separating couple will likely expect them to also give their take on the situation.

Real estate agents have reported that although divorce rates in the U.S. have only risen by a minimal margin since four years ago, almost a third of their clients who are looking to sell off their homes are either divorced or about to get a divorce. A person who brokers real estate often reports that majority of these couples are eager to get rid of their properties and most of them are in a hurry to do so.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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