If you’re wondering about the ins and outs of selling your home during a divorce in we’ll dive into the steps and things to look out for in this article.
With over 50% of American marriages ending in divorce, many divorcing couples are looking or advice for selling a house during a divorce.
Dividing a house during a divorce can be a complex process, and it’s important to seek legal and financial advice to ensure a fair outcome for both parties. Especially in a market that hasn’t fully recovered from a housing bubble burst, factors like the current market value, outstanding mortgage, and potential selling costs all need to be carefully considered. Considering these factors will help you and your spouse make informed decisions about how to handle the house, whether it’s selling it, one spouse buying out the other’s share, or even temporarily co-owning the property.
Determine if (and when) You Will Be Selling Your House During Your Divorce
Dividing a marital home can be a complex issue in a divorce, especially when children are involved. One common solution is for one spouse to buy out the other’s ownership stake. This allows one spouse to remain in the familiar home while the other receives their fair share of the property’s value. Another option is a temporary agreement. In this scenario, one spouse gets exclusive use of the house for a predetermined period, often until the children reach a specific age like graduation or adulthood. This approach provides stability for the children while allowing time for the financial situation to settle or the housing market to change. Eventually, the house is typically sold, and the proceeds are split according to the divorce settlement.
Get Professional Help – Agents and House Buyers/Investors
Selling a house is a difficult process when everything is going right.
During a divorce, you have a lot going on and a lot to consider. You shouldn’t take on the task of selling your house yourself. You may have disagreements with your spouse about the selling price or other issues. By working with a real estate professional, either a reputable agent or real estate investment firm, you’ll both have a neutral third party who can help you determine a fair selling price and handle the marketing of your house.
If you need to sell your house fast, reputable local real estate investment firm like Sell My House Now USA may be a great option. Firm like ours actually buy houses (rather than listing them like agents do), and we pay cash and can close quickly if you need to sell this house fast.
If you can wait the time it’ll take to list it with an agent and sell it on the open market, going with a real estate agent is your best bet.
But, if you can’t wait for 3-9 months, that’s the period of time it usually takes for a house to sell, contact us to see what we can offer you for your house during your divorce.
Set (and stick to) a Timeline
During a divorce, emotions can run high, and selling a house can become a point of contention. To avoid unnecessary stress, creating a clear timeline for the sale is crucial. This means agreeing well in advance on when to list the house. Setting firm dates for closing and for both spouses to move out eliminates confusion and ensures a smoother process. Furthermore, designate which spouse will be the primary contact for the real estate agent to avoid crossed wires and delays. Crucially, put all these agreements, including penalties for violating them, in writing. This will help hold both parties accountable and prevent misunderstandings during an already challenging time.
This helps ensure a smooth, surprise free house sale.
Selling Your House Fast For A Fair All-Cash Price
One option that many divorcing couples have turned to in recent years is making a quick sale to a real estate investor like Sell My House Now USA.
Reputable local real estate investors like us, purchase houses quickly and without stress, and the process can often take as little as seven days.
Deciding how to sell a marital house doesn’t have to be as stressful as the divorce itself.
By protecting each party with a qualified real estate agent or simply jointly deciding to sell and selling fast to a real estate investment firm like Sell My House Now USA, and moving the process as quickly and according to an agreed upon schedule, all parties can walk away from the sale without stress.
If you want to discuss your situation with your divorce and see if we can help you save time, reduce stress, and get out of this situation fast, give us a call anytime at (239) 360-3176, or fill out the form in our website.
We will evaluate your house, make you a fair all-cash offer, and you can decide if selling your house to us is the best fit for you. We are here for you, just contact us and let’s discuss.