One issue that many people don't consider when buying a home is the requirement for both parties to sign, even if only one person is financing the purchase. In some states, owner-occupied properties require the signature of both parties, and if you're separated or going through a divorce, this can be a problem.
If the other party refuses to sign, it can hold up the purchase process and cause unnecessary delays. It's essential to try to work things out amicably and get the other party to sign. If that's not possible, then a power of attorney can be an option, allowing you to move forward without their signature. However, it's crucial to ensure that the other party is aware of what they're signing and that they're okay with it.
At times, separated or divorced couples can't work things out, and this can cause problems during the loan cycle. During this time, you need to try to avoid arguing with the other party, as it can delay the purchase process and cause unnecessary stress.
Therefore, it's crucial to work with a reliable and knowledgeable real estate advisor and loan advisor who can guide you through the process and help you make informed decisions. At our company, we have a team of experienced professionals who are here to assist you every step of the way.
If you're separated or going through a divorce and have questions about buying a home, please don't hesitate to reach out to us. We're always here to provide you with the best advice and help you achieve your homeownership dreams. Call us today to schedule a consultation, and let's get started!