Divorce Real Estate, Mel B/Stephen Belafonte: Lessons for divorcing couples
Divorce Real Estate, Mel B/Stephen Belafonte: Sometimes, when you are divorcing, in order to close a real estate deal (because you have to cash out quickly) one has to sell the real estate that is available whether it is the marital home, vacation residence of any other type of property – as we saw with Mel B/Stephen Belafonte divorce case.
Undoubtedly, Mel B/Stephen Belafonte needed quick cash to pay lawyers, rent a temporary home while the divorce was pending and eventually give Stephen Belafonte a sizeable property settlement if he did not have a prenup. Chances are even if there had been a prenup, he would have walked away with part of Mel’s $50 million fortune.
This strategy of quick selling the marital home can work for regular people as well. In Mel B's case she slashed the price by more than $1 million dollars. Ordinary folks may not have real estate that is even valued at the slash price in Mel's case. So obviously, when we are talking about slashing prices, it is all relative. Divorce Real Estate, Mel B/Stephen Belafonte Divorce
Slashing the price of the marital residence for the quick sale is an option in some divorce cases otherwise the house could sit there for a long while waiting for the right buyer.
…Mel and Stephen’s house is very nice though. It is on four stories, has an indoor gym that looks out on the pool, a bar, four bedrooms and a nice amount of adjoining property. They were living well. It is confusing that they couldn’t have just enjoyed it in a wholesome way and had to resort to the debauchery and filth that they allegedly resorted to. Obviously, this type of lifestyle is not sustainable for anyone. It is a shame that people like these who are fortunate enough and blessed enough to have so many resources can’t find a healthier, cleaner, more godly way to conduct themselves in their private lives, Isn’t it?
With that said, for those looking to raise cash in their divorce action quickly, like I said, slashing the price of the house – sometimes bigly – is the way to go for the quick sale.