Divorcing and Selling Your Home in Minnesota

Divorcing and Selling a House,
Unless you have been through it you just don’t understand. To make it even worse it’s not just the spouses that get divorced, it’s a family thing. Things will never be the same. I know because I have been through it, yes with children involved. However life must go on, lives must move forward.Here are just a few quick points.
1. Using a Quitclaim Deed or Grant Deed only passes right to title. They do not usually transfer responsibility for any loans. In addition it is not unheard of to have quitclaim deeds challenged or even overruled in court.
2. A changing of the title may still leave you liable for loans associated with that property.This leaving you under financial influence of a former or divorcing spouse.
3. Refinancing a property can however free you from joint obligations.
4. Refinancing may enable the owner to pay off any associated loans and get needed equity out of a home.
5. I can help you get access to a local lender who may be able to get you a better rate than most lenders can. Some mortgage expenses are also tax deductible.
If refinancing is not an option for any reason then you still have the option of marketing the home.In Minnesota it takes two to sell. A husband of wife may buy or own a home but it takes both signatures every step of the way to sell a home. Needless to say that’s quite a task for an agent. Twice the legwork and 10 times the understanding and patience.
As an agent going into the homes and lives of divorcing couples your also trusted with a higher level of information. Namely keeping the private lives of both parties private. People are remarkably human. They say things and do things that don’t necessarily make things go smoother. I’ll keep your lives private.
When attorneys get involved, most likely they will. I’ll handle that professionally as well. But talk is cheap. Contact me and let’s meet and discuss it. This is going to be a process. It needs to start looking the agent in the eye and making a judgement call on their professionalism and compassion. Take the first step, let’s meet.

Closing on a Home and How to Prepare

DvdRealty Closing

Closing Process

A closing is defined as “a meeting of all parties involved in a property transaction. During which pertinent documents are signed and transferred, and funds are distributed.” Typically, it is handled by a closing agent (closer). However a title insurance company or an attorney can also do it. It will last approximately 45 to 60 minutes. 

  The title company will begin preparation for your close shortly after you sign your contract. A request for payoff information is sent for existing mortgages. Also a request for any information regarding homeowners or condominium association dues and/or transfer fees. If a new mortgage is being obtained, the closer will work closely with the new lender . This will help make sure that all of the lender’s official  requirements are met. 

  A title exam is ordered to verify the seller’s right to transfer ownership. Also to discover any outstanding mortgages, liens, restrictions, easements, etc. Because they may affect the properties ability to close. A title commitment will then be issued to show any matters reflected in the title exam. As well as a determination of the documents needed to properly transfer the title of the property to the buyer. The closer will also work closely with the lender and Realtors. This is to coordinate the ordering of the termite inspection, survey, homeowner’s insurance and the flood insurance if applicable. 

  When the lender has received all required documents from the buyer and the loan has been approved. The closing agent will schedule the date and time for the close with all parties. The lender will prepare a closing package. It consisting of the loan conditions, instructions, fees charged in connection with the new loan. Also any loan documents to be delivered to the closer. Who will then prepare all of the necessary closing documents. Including a closing statement outlining all costs associated with the transfer of ownership. As well as fees charged in connection with the new loan. 

  Copies of the closing statement are usually faxed to the lender and Realtors. If the title agent has been provided a fax number for buyer and/or seller they may also receive a copy. The buyer must bring a cashier’s check to close made payable to the Title Agency. The seller will also be advised of the proceeds of the sale of the property. 

  The closing typically takes place in the title office. The closer, buyer, seller and any Realtors sit around a table while the closer explains the closing statement. As well as other closing documents. When all of the documents have been signed. Including the deed, and the buyer has given the cashier’s check to the closing agent. The seller receives his or her proceeds from the sale. 

  After the closing, the title agency sends the original deed and mortgage to the courthouse for recording. The completed loan package is sent to the lender. All remaining funds are disbursed according to the settlement statement. This includes the mortgage payoffs. The owner’s and lender’s title policies are issued when the deed and mortgage are returned to the closing agent after recording.

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14709 High Point Court, Minnetonka, MN

14709 High Point Court, Minnetonka, MN

For Sale

Presented By:

Damon Duvall

Agent
Coldwell Banker Burnet
561-213-6034
Licensed In: Minnesota
License #: 40456879

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Property Description

*Owner open to Considering “Contract for Deed” with 20% Down. Call 561-213-6034.*or Dvd Realty on Facebook. This is a home that the WOW factor definitely applies to. Completely renovated by a licensed contractor/craftsman to contemporary standards. Over $400,000 invested into the renovations since 2009. Even the garages are finished with treated floors. Plenty of storage and living space throughout the home. Home is located on quiet and private drive centrally located to everything you need a mere walking distance to the park and restaurant. Priced right, ready for your dreams to come t…



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14709 High Point Court, Minnetonka, MN

14709 High Point Court, Minnetonka, MN

For Sale

Presented By:

Damon Duvall

Agent
Coldwell Banker Burnet
561-213-6034
Licensed In: Minnesota
License #: 40456879

  • Link on Facebook
  • Link on Twiiter
  • Connect on YouTube
  • Connect on Google+
  • Connect on LinkedIn
 

Schedule a Showing/Request Info

Property Description

*Owner open to Considering “Contract for Deed” with 20% Down. Call 561-213-6034.*or Dvd Realty on Facebook. This is a home that the WOW factor definitely applies to. Completely renovated by a licensed contractor/craftsman to contemporary standards. Over $400,000 invested into the renovations since 2009. Even the garages are finished with treated floors. Plenty of storage and living space throughout the home. Home is located on quiet and private drive centrally located to everything you need a mere walking distance to the park and restaurant. Priced right, ready for your dreams to come t…



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17015 41st Place North, Plymouth, MN

17015 41st Place North, Plymouth, MN

open-house

$ Click for current price
5 BEDROOMS | 4 (2 full, 2 half ) BATHROOMS | 4167 SQUARE FEET

Presented By:

Damon Duvall

Agent
Coldwell Banker Burnet
561-213-6034
Licensed In: Minnesota
License #: 40456879

  • Link on Facebook
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  • Connect on Google+
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Schedule a Showing/Request Info

Property Description

Private and Opulent, are just a couple of words that come to mind when I describe this home. It’s in a high end neighborhood on a quiet street conveniently located just off Old Rockford Road. It has a warm inviting feel that’s perfect for families. It has four bedrooms on the same floor. It is also a great home for entertaining and has surprising amenities in the family room on the lower level. As well as a patio overlooking the pond and garden for those entertaining evenings for business or friends. The back yard is beautiful and made for relaxation or socializing. It is your own private Garden of Eden.Come by the open house and see for yourself. Or call 561-213-6034 for a private showing.

To see all Plymouth MN Homes For Sale Click Here

Buy this home through Damon Duvall and receive a 1 year home warranty purchased by the Agent.

 

 



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