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Divorce and Selling the Marital Residence, Your Contract for Sale

Apr 7, 2016 @ 07:53 AM — by Michael Green

As part of any divorce, you may have to list your marital residence for sale.  There are a number of issues along the way.  First, you have to list the property, with the listing, you have to determine which exclusions, if any, you wish to have as to the sale.  Exclusions may include light fixtures or even a hot tub.  In any contract for sale, there may be other issues you wish to cover, including contingencies, such as a mortgage contingency.  In this case, the contract may not go through unless the other party gets a mortgage.  The parties then enter attorney review of the contract and after all terms are agreed upon, they come out of attorney review, typically within three days.  Thereafter, there will be an inspection of the property and the seller has to cure those issues found with the property as requested by buyer or give the buyer a credit for what is not being cured or fixed.  Subsequent to coming out of that period where the inspection issues are cured, a mortgage appraisal takes place, the house is surveyed and title is searched in preparation for the closing.  If you are seeking a divorce and looking for an NJ divorce lawyer or NJ divorce attorney to help you with the sale of your marital residence, and negotiating your property settlement agreement, call us at 732-390-0480 or 201-242-1119 in our East Brunswick or Fort Lee offices.  We have free consultations and see clients on nights and weekends by appointment.

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