When we talk about “property” in the context of separation, it goes far beyond houses and land—it includes vehicles (like cars, boats, and caravans), artwork, furniture, and other fixed assets, such as superannuation and shares.
Dividing these assets can be complicated, especially when it comes to the family home, a place filled with memories and emotions.
In our experience, many former couples choose to sell shared property as part of their settlement. However, every situation is unique, and the process can vary significantly.
This guide shares some insights based on our experience, but we strongly recommend seeking tailored legal and financial advice, along with other support services, as you navigate this process.
Selecting an Independent Real Estate Agent
Choosing an unbiased agent is crucial. Look for a professional who prioritises both parties’ best interests, ensuring both of you feel comfortable trusting them with the sale.
While you don’t need to personally “like” the agent, finding someone you both feel comfortable with can make the process smoother. If you and your former partner can’t agree on a single agent, you have the option of each choosing your own, with both agents collaborating on the sale.
Agreeing on the Sale Price
Price negotiations are often the biggest challenge. For the sale to proceed, both parties need to be satisfied with the agreed price, whether through private treaty or auction.
Taking your agent’s expert advice, as well as obtaining a third-party valuation, may provide a clearer path to consensus. However, if you’re unable to agree, legal assistance may be necessary. Courts can order the sale of a property with pricing determined by an independent valuation, but this should be considered a last resort.
While emotions may run high, relying on expert opinions and keeping discussions objective can help make this process less contentious.
Avoid Disputes Over Household Items
One of the most costly mistakes couples make is fighting over items within the home, which can quickly lead to unnecessary legal fees. Often, these fees outweigh the value of the items themselves. In many cases, it’s far more economical to simply replace the item than to pay for legal mediation. While sentimental value can make these decisions difficult, consider the cost implications before involving legal counsel.
We hope this guide offers some clarity. However, if you’re currently navigating a separation, it’s essential to seek personalised legal advice for your specific circumstances.