Sound Off: Handling shared real estate assets during a divorce or separation

02 Apr

Sound Off: Handling shared real estate assets during a divorce or separation

A: The divorcing couple should start by deciding how they will divide their jointly owned property, possibly consulting with attorneys, financial advisers and loan specialists. The agent will meet with both parties and confirm the joint commitment to cooperate in selling their property.

Every agent owes every client the duty of utmost care, integrity, honesty and confidentiality.

Care: Establish expectations and communication guidelines. It is common in almost all sales transactions that one party is more engaged than the other. In this case, the agent shall devote extra effort to ensure that all parties are informed.

Honesty: Agents shall always tell the truth and find a way to deliver the facts to each party in a way that can be heard.

Loyalty: Agents shall remain loyal to both parties, never taking sides and avoid listening to the complaints of one about the other.

Confidentiality: Agents shall never divulge personal information about the sellers to prospective buyers and never disclose that divorce is the reason for selling.

John Solaegui, Paragon Real Estate Group, (415) 738-7232, jsolaegui@paragon-re.com.

Source : sfgate.com