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Divorce And Selling Your Crested Butte Home

October 25, 2019 By Chris Kopf

It can be a difficult decision to sell your Crested Butte home. But it can be even more complicated if you are selling because of divorce. Divorce can be hard, especially when it comes to dividing up the assets. When it comes to the house, there’s usually two choices – either one spouse gets the Crested Butte home or the home gets sold and the proceeds get divided up. There are many things to know and consider. If one spouse retains the home, you will need a selling strategy if the home is to ever be sold.

I hope this makes this time in your life to be a little bit easier. Here’s everything you need to know for Selling your Crested Butte home because of divorce:

Value Of Your Crested Butte Home

appraisalThere needs to be an accurate fair market valuation of the home if one spouse is going to retain the Crested Butte home. To do this, you can get an appraiser. Sometimes it’s easier to get two appraisers. That way, you can average the numbers of what both appraisers are giving you for the value of your home. This will help stay clear of any arguments pertaining to who selected the appraiser. Then, you may also decide whether you want to reduce the value by 7% to cover the normal transaction fees that would have been paid to sell the property.

There are additional considerations if one spouse is getting the home and plans to sell it immediately. Is there equity in the home? Are there transfer taxes, out of state withholding taxes on the proceeds, or upcoming HOA assessments? What are the capital gains taxes on the sale of the property? Take any debt on the property into account as well. Consider all these things when it comes to divorce and selling your Crested Butte home.

Transferring Your Home

Special Inspection When Buying or Selling Your Crested Butte HomeTransferring your home still involves multiple steps. This may seem like the easiest way for one spouse to not have to worry about the home, but it can be more complicated than you expect.

The easy steps include transferring the title of the property via a quitclaim deed prepared by an attorney and recorded in the county records. If the property is set up I an entity, then you can transfer it from one party to another.

The hard steps include if the home has a mortgage, second mortgage, home equity loan or secured line of credit. The spouse that doesn’t get the home will want their name as a borrower off any and all loan documents. Refinancing the property and possibly paying off all subordinate debt can take care of this. This is assuming that the spouse who takes the home can qualify for the new loan and afford to maintain it.

Divorce And Selling Your Crested Butte Home Strategy

643 Meadow Lane Price Reduction Crested Butte Home for SaleThis can be a very emotional time, especially if you have to sell your Crested Butte home too. It can be a tough situation and divorcing couples may not be able to have open and honest conversations. In the end though, selling your Crested Butte home might be the best decision for both of you.

Second homes are not liquid assets. It could take a year or more to sell your Crested Butte home depending on location, property and the asking price. Agreeing on a strategy to sell is important to start out with. An example could be to set an initial asking price based on an appraisal, and then every sixty days the home has not sold, reduce the asking price by 5%. This discussion for a strategy is wise to handle early on. If the mountain home is to be sold, then hopefully the transaction is complete prior to the divorce being finalized. Then you could split up the proceeds beforehand.

Final Thoughts

I hope you see the level of detail and time and effort I put into this candid article Divorce And Selling Your Crested Butte Home. I have become a Top Real Estate Agent in Crested Butte by providing my clients with information and insight. This helps my clients to make informed decisions. Some decisions are not always easy.

This article is an example of what you can expect from me as your agent.


Are You Considering Buying or Selling a Home in the Crested Butte Area?

Crested Butte Real Estate AgentContact me to help you.  I have been in your shoes – as both a Second Home Buyer and Seller here in Crested Butte.

The Crested Butte area offers a wide variety of properties including ski in/ski out single family homes, ski-in/ski-out condominiums, lake and river frontage properties, golf course property, quality homes in Downtown Crested Butte, and true fine mountain homes on acreage.

To see Crested Butte Homes For Sale or search the MLS – visit ChrisKopf.com.

If you considering Selling your Crested Butte home and are interested in finding out what your existing property is worth – call me. How is the Crested Butte Real Estate Market doing?

The Crested Butte Real Estate Market is very active. Click this link to see my monthly Crested Butte Real Estate Market Reports.

I have consistently been a Top Real Estate Agent in Crested Butte, and I appreciate the opportunity to earn your business and be your Crested Butte Real Estate Agent.

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Please Contact me at:

Chris Kopf
Broker / Owner
Global Luxury Property Specialist
Coldwell Banker Mountain Properties
Chris.Kopf@CBMP.com
(970) 209-5405

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Chris Kopf, Coldwell Banker Mountain Properties
305 6th Street
Crested Butte, CO 81224
  • Chris.Kopf@CBMP.com
  • (970) 209-5405

Testimonials

Bobby Nichols

"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "

 
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:45:19-07:00
"The first moment we met Chris, my wife and I knew he was all about what is happening in real estate sales in Crested Butte. He knows his job, the marketplace and the innovative ways to market your home in today's electronic internet space. A real professional that understood us and our needs in handling a very successful sales transaction. "  
https://chriskopf.com/testimonials/bobby-nichols/

Jeff Hollings

Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:46:48-07:00
Chris is outstanding! We recently bought a second home in Crested Butte and Chris did a great job throughout the whole process. He has a thorough understanding of the market and the benefits and drawbacks of various locations. He was very patient with us as our preferences evolved throughout the search. He gave us valuable information on which to negotiate the purchase. He had great follow-up during the inspection/closing process (when we were not in town) and made sure all of the commitments made by the seller were properly completed.
https://chriskopf.com/testimonials/jeff-hollings/

James Brennan

This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
Crested Butte Real Estate by Chris Kopf
2014-10-14T17:59:24-06:00
This was our first experience trying to purchase additional land with hopes of building a home. Chris was tremendously helpful throughout the entire process and his professionalism showed.
https://chriskopf.com/testimonials/james-brennan/

Jane Saltzman

Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:49:37-07:00
Chris was terrific to work with. The house sold faster then I ever expected! He was particularly helpful for this second home owner that couldn't always get there to take care of house issues. Thank you Chris!!!
https://chriskopf.com/testimonials/jane-saltzman/

Georges Lussier

The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:40-06:00
The thought of a short sale was intimidating, but Chris made the experience very easy with lots of guidance from start to finish. I would highly recommend Chris for any Real Estate need buying or selling.
https://chriskopf.com/testimonials/georges-lussier/

Frank Stringer

Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
Crested Butte Real Estate by Chris Kopf
2015-02-11T13:51:04-07:00
Chris Kopf is a wonderful person to work with on any real estate matter you may have in Crested Butte. He is extremely knowledgeable of all elements of the Crested Butte area. He helped us recently to buy a new second home in Skyland and the entire experience was first class under Chris's guidance. I would highly recommend him to anyone who has a real estate need in Crested Butte.
https://chriskopf.com/testimonials/frank-stringer/

Paul & Julie Keesee

Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:59-06:00
Chris was quite helpful in showing us homes in the area we were interested in and contacted us when new listings were available. We not only consider him our realtor but also a friend.
https://chriskopf.com/testimonials/paul-julie-keesee/

Jim & Sandra Wickham

Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:18-06:00
Chris' patience and persistence paid off for us in finding the right house for the right price. We would highly recommend Chris to any potential buyer.
https://chriskopf.com/testimonials/jim-sandra-wickham/

Tom & Mary Aton

It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:06:31-06:00
It was a great experience working with Chris, after showing me what I thought I wanted, he advised me of the pros and cons on the different condos and found one that I am thrilled with.
https://chriskopf.com/testimonials/tom-mary-aton/

Dan Aquaviva

This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
Crested Butte Real Estate by Chris Kopf
2014-10-14T18:05:26-06:00
This agent has a very strong knowledge of the local area. He was very helpful in screening properties for potential purchase.
https://chriskopf.com/testimonials/dan-aquaviva/
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Crested Butte Real Estate by Chris Kopf

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