March 23rd, 2011 
Vanessa Williams When familes break up it is a tricky time for all concerned. As individuals they have to learn to live by themselves, in some cases deal with the loss of their partner and often cope with much smaller budgets on which to run their lives. If children are involved the position can be even more difficult with each parent wanting to create a secure and comfortable home in which the children can either live, or stay over at.
In order to achieve this the family property usually needs to be sold to release the money from the property to be split between the parents. This then allows them to select another, lesser house each where the children can feel at home, have all their things around them and simply make the best of a difficult situation. Nevertheless the current housing market is stopping the individuals involved moving on.
If 2 separate homes are required and family equity split then it is crucial that the highest price possible is achieved for the family home so that the couple have as much equity as feasible so that they can to buy a new home. It is also essential for the issues to be resolved as quickly as possible to get all members of the family settled into the new situation as quickly as possible. Here lies the issue. In order to get a quick property sale in this market, sellers need to list a keen asking price. Not ideal for the dividing family, whose parents need as much as possible if they are to buy two homes large enough to provide space for the children.
It is clearly not possible for lots of families to reduce the price of their home in order to sell house fast and this sadly keeps many of them hanging on. Often the father is the one who has to leave the family home but as he is not able to get any money he has no option but to rent, typically a very cheap property, whilst continuing to contribute to the mortgage on the family home. Hopefully the situation will ease in the not too distant future and let splitting family units the opportunity to get settled again.
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