Real Estate and Divorce - Posted by Michael J. Crandall

Posted by Tim Fierro (Tacoma, WA) on July 04, 2002 at 11:25:57:

If you and your wife are splitting 50/50, then selling retail and having no fees is real attractive. Your MIL will probably still price the home correctly, and you still get to sign to make sure it is a price you want. Any offers that come in, again you get to review the offer and decide whether or not to proceed.

I would take advantage of this ‘free’ help in the sale and get away cleanly and fast. The home is probably #2 on divorce couples lists of priorities to deal with after kids. If you can get this part of the divorce out of the way quickly and easily, I would do it.

Your MIL, as an agent, owes you and your wife a fiduciary duty to look out for your interests; and you get to review all contracts and must sign that the deal is acceptable to you. You should be just fine.

Real Estate and Divorce - Posted by Michael J. Crandall

Posted by Michael J. Crandall on July 02, 2002 at 15:27:48:

I am currently in the process of getting divorced. One of the issues that needs to be resolved is the matter of selling the house. My wife’s mother (Marsha) is a realtor and handled home purchases and sales in the past. Marsha always forfeited her commissions to us in previous transactions. My wife wants Marsha to be the realtor in the sale of this home and Marsha again promises to forfeit her commissions in this transaction as well. What would be the pros and cons to allowing this to take place? I am concerned that the mother realtor will not be looking out for both of our best interests. Thanks in advance for your help. Please email your response to me at your greatest convenience.

Best Regards,

Michael J. Crandall