Outside Of Children, Real Estate Is The Largest Issue For Those Facing Divorce

Although it is a topic that most people don't want to talk about or even consider, divorce has a tremendous impact on real estate and financial holdings. Real Estate may represent the largest asset that is being considered within the divorce proceeding, therefore it is something that should be considered when a separation or divorce are on the horizon. Consider that there are over 1.4 million divorces in the US ever year. Here are some tips and strategies on how to maintain your lifestyle after a divorce and how to evaluate various real estate and financial settlement options prior to a separation & divorce:

You should research and understand the options related to disbursement of your real estate properties, including homes, condos, vacation properties, investment properties, timeshares, etc. prior to the divorce settlement. This could include an evaluation of whether you work out an agreement to:

o Sell your property or refinance your your primary house or other real estate assets in order to buy-out an ex-spouse

o Accept or pay spousal support, child support or a higher cash flow payment versus a lump sum distribution involving the real estate holdings. You should evaluate the cash flow and protection implications of various financial decisions involved with the divorce proceedings and the eventually agreement. This enables you to:

o Maintain your lifestyle

o Keep your little ones in the same school system as a single parent

o Live in the home that meets your needs without breaking your budget

You should look to enhance your liquidity and protect your the real estate holdings from legal liability prior to going through a separation & divorce by working together with your CPA, CFP, attorney, Real Estate Team and other advisors.

Don't settle for an undesirable financial strategy or short-term fix if you failed to plan properly during a divorce situation. You can minimize the impact by implementing a structured plan for how to re-establish your financial footing after going through a financial rough spot. This may involve:

o A staged approach to financing - a refinancing or debt restructuring plan that takes place over time

o Sale/Leaseback or Rent-to-Own strategy - a way to keep or buy a home, townhouse, or condo for sale or when you can't qualify for traditional financing options.

o Seek out Affordable Single Family Homes for Sale

You worked hard to develop the assets and real estate holdings involved. You should consider all of your options to create an environment that works to protect those assets.

The Earl of Real Estate - Robert Earl is a Top Producing Real Estate Agent & Real Estate Coach with Keller Williams - Northern Virginia Real Estate. Robert has compiled a list of 77 Bank Owned / Foreclosure Homes for Sale in Northern Virginia as a free service to Northern Virginia Real Estate Buyers & Seller.