How Does Divorce Impact The Sale Of A Celebrity Home?

One of the most contentious parts of any divorce is how to divide the assets. For most couples, the single most valuable asset is their home. This is true for every day folks, and is also true for celebrity couples. The difference is that when a celebrity couple calls it quits, millions of dollars are typically at stake when the home is put on the market. For some, the idea of owning real estate once owned by a celebrity is appealing, but for others the emotional connection felt for the start could mean a sale of the home is a long time coming.

Realty today claims a celebrity divorce is a good thing for the market, because everyone is suddenly interested in what price Ben Affleck and Jennifer Garner’s home will fetch (early reports show the price tag was $45 million). But, this does not mean that a sale of property a celebrity couple once called home will happen any time soon. Here is a quick list of properties that sat on the market for a while, or have seen a reduction in the asking price in the hopes of a quick sale:

  • Terrell Owens’ home has been on the market for nearly 4 months.
  • Josh Hamilton has dropped the price on his home, as he waits for an offer after having listed it in April 2015.
  • Drew Barrymore sold her home after her first divorce for a little over $1 million less than the original list price.

Of course prices pays a major role in how quickly property will move, but in the case of a celebrity divorce there are added elements such as the level of fame of the couple and public perception. For couples viewed as “America’s Sweethearts”, like Ben and Jen or Blake Shelton and Miranda Lambert, some fans may be too emotional to take up residence in the couples’ former home. This can make settling the estate a difficult task, and prolong the duration of the case. Unfortunately, this type of delay can also occur in a non-celebrity case, making it hard for the parties to reach a final agreement. If you need help with your divorce, and have concerns about the length of time it may take to sell marital property, we can help. Call us today for more information.

 

Let us put our experience to work for you. Call The Sampair Group in Phoenix and the West Valley today.


ARTICLE:
4 of 10DATE:October 16, 2015