I'm not an Attorney, but I can Tell You This.
As a Realtor of 25 years, my niche market is working with couples who are divorcing. Yes, it is challenging but extremely rewarding. Each transaction provides new information that I can share with my clients or fellow Realtors.
In a recent transaction, both parties appeared on title, agreed to sell the marital home, and their Final Divorce Agreement was written giving one party the ability to make all decisions regarding the sale. This might be adequate if the parties were communicating and cooperating, which unfortunately was not the situation with this couple.
Ironically, this action of giving one party the sole decision making role is usually put in a Final Agreement when there is an apparent lack of cooperation, and to prevent one party creating road blocks to the sale.
Here's what happened. Both parties agreed that I was to be the listing agent, the listing agreement was prepared and the professional stager was scheduled.
One party flatly refused to sign, which quickly called a halt to the sale process. With our current market, time is really of the essence
and this delay could cost them a sale or bring a reduced price.
The lesson learned to prevent this scenario is that when a Final Agreement is signed designating a decision maker for the sale of the home, it is advisable to have a Power of Attorney or Quit Claim Deed signed to reinforce that right. In this case, attorneys needed to be reengaged to have these documents completed, creating more attorney fees and a lengthy delay.
Please pass this information along to anyone going through a divorce with a home to sell, or to Realtors working with clients in transition.