GRG | Fresh Start Program
A financial crisis like a foreclosure or bankruptcy can be an overwhelming and distressing experience. Homeowners often describe this time as hopeless, full of insurmountable obstacles, and lacking any clear options or guidance. To assist with this challenge we have developed the GRG New Start Program. This program addresses exactly these issues by providing you with a clearly defined, step-by-step experience that will allow you to make a “fresh start”. It will provide you leadership, expert guidance, and a variety of options that not only help you get past these rough waters but steer you on a fresh path toward financial clarity. Finally you will have answers you’ve been looking for and a partner to walk with you along the way.
The New Start Program is intended to deliver simplicity, certainty, and professionalism at every turn. Each step along the way will be clearly defined so as to keep you informed and in control of the transaction from start to finish. We can work directly with your bank, lender, or attorney to make sure everyone involved has the ability to review the offer and get their questions answered. GRG makes selling simple and the GRG New Start Program is the tool that delivers on this promise.
To coordinate a buyout, courts typically require a professional home appraisal to determine a home’s fair market value in a divorce. They need an official opinion of value to decide what’s owed to the spouse who’s selling their stake.
Whether you sell the house or agree to a buyout, you’ll have to find out how much your property is currently worth. We can help with a quick detailed CMA.
If both spouses order separate appraisals and the appraised values aren’t the same, a judge may be called in to make a decision or compromise. (This can happen in less amicable divorces when the person buying the home wants the lowest appraisal possible to mitigate what they owe, while the person selling their share is motivated to get the highest appraisal possible to maximize what they’ll receive.)
As you work to incorporate the division of property into your divorce settlement, there are several factors to consider as you move forward that we’ll review next.
If you and your spouse own property together, deciding what you do with it in your settlement is one of the bigger and more complex challenges you’ll face. You’ll want to make an informed choice based on your finances, your relationship with spouse, real estate market conditions, and the impact on your children.
Sell the House and split the proceeds – You both might decide to move on immediately and sell your home. From there, you’ll take a legal decision to divide up the earnings equitably upon closing.
Buy Out – Perhaps one of you wants to stay in the home, while the other leaves. Instead of selling, one partner can buy out the other’s interest in the house. This commonly happens in instances where children are living at home, or the market conditions aren’t ideal for a sale at the time
Keep the house and sell at a later time – · In a booming rental market, you and your ex might decide to hold onto your home and rent it out. Alternatively, you might decide on an alternative living arrangement where you keep the property jointly post-divorce and wait for the right time to move forward with a sale.