What should I watch out for when buying a property from a divorced couple? Any issues? Should I expect delays, eviction, any issues that are common? I'm looking to buy and flip after.
What should I watch out for when buying a property from a divorced couple? Any issues? Should I expect delays, eviction, any issues that are common? I'm looking to buy and flip after.
You may encounter delays or confusion if the two of them are separated and not communicating. When you are told something important by one of them, verify it with the other.
What should I watch out for when buying a property from a divorced couple? Any issues? Should I expect delays, eviction, any issues that are common? I'm looking to buy and flip after.
You may encounter delays or confusion if the two of them are separated and not communicating. When you are told something important by one of them, verify it with the other.
Try having a separate point of contact for each spouse. Me and my business partner did that after meeting them and realizing it was a bad divorce. We each paired with the one who seemed most comfortable with us. Sometimes it's a personality that you can manage better. It was a balancing act to keep everyone moving forward and not telling the other spouse how much the other one complained about them. They just wanted someone to vent to in confidence. Ultimately it was about trust.
What should I watch out for when buying a property from a divorced couple? Any issues? Should I expect delays, eviction, any issues that are common? I'm looking to buy and flip after.
You have to wait to hear from the judge as to what the distribution of ownership is.
Aside from the above, you gotta realize that they are in a bad space mentally. That can cause a desire to just get the H*** out (which can mean a deal for you), or they can decide to stay and haggle to get more money. There will (usually) be a distinct lack of usual communication....