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Selling Your House During Divorce in Fort Myers – Options At An Emotional Time

Selling Your House during Divorce in Fort Myers

Selling your house during divorce in Fort Myers can be extremely difficult. Emotions can be high in a divorce. Chances are that someone at some time wants to destroy the house. The reality is, eventually emotions subside and we all become adults once again.

When it comes to divorce proceedings, the courts usually guide us to being adults faster than we are ready. Keep the home in tact because if you have to sell, you want top dollar. Plus you don’t want your ex-spouse to claim you damaged the property and have your portion garnished for the momentarily emotionally gratifying deed.

Agreeing to Sell and Split

One of the common ways to split assets in a divorce, especially a house, is to put it on the market, sell it and split any equity equally among the two of you. This is common especially if there aren’t children involved. It simplifies things by eliminating a pending mortgage and if you can sell quickly, expedites the divorce process. That being said, if the housing market is slow, this could drag things on longer than desired.

Talk to a realtor. Get an honest assessment for your Fort Myers home. Find out what estimated costs will get you a higher return. Negotiate realtor fees to keep net profits as high as possible and do a market analysis so you have reasonable expectations of the sale.

Preparing the House for Sale in Fort Myers

As a couple, it’s essential to collaborate closely to prepare your house for sale, recognizing that both of you have a vested interest in its successful outcome. Dedicate yourselves to the task of cleaning and decluttering, ensuring that the space reflects warmth and comfort, portraying the image of a happy family home. Regularly mowing the grass adds to the curb appeal and enhances the overall impression of upkeep and care. Moreover, addressing any lingering tasks on the honey-do-list not only streamlines the selling process but also showcases the property’s readiness for potential buyers, making the transition smoother and more efficient. By working together diligently, you can maximize the appeal and value of your home, setting the stage for a successful sale.

She’ll scratch her head wondering why you were incapable of doing it before and you’ll know you just increased your sale value. Funny how you can win that way sometimes.

The Next House

When navigating the sale of your marital home amidst a divorce and preparing to purchase a new residence, meticulous coordination with your realtor becomes paramount. Given the potential complexities of divorce proceedings and the unpredictability of house sales, timing is of the essence. Ensuring synchronicity between the sale of your current property and the acquisition of a new one is crucial to avoid being ensnared in unforeseen complications. By aligning these transactions effectively, you can safeguard yourself from the risk of being burdened with a new home mortgage amidst the turmoil of unresolved legal matters or unexpected setbacks in the selling process.

Be honest with lenders and start the process early. While you need to be prepared, don’t lock any rates in before you are really ready to pull the trigger. Constantly running credit for new approvals can hurt credit scores.

One Spouse Keeps The Pad

Opting to buy out your soon-to-be-ex’s share of the house in a divorce signifies a strategic move aimed at providing stability, especially when children are involved, although it holds relevance in any separation where both parties find mutual accord. Through this arrangement, a pivotal element is the completion of a quitclaim deed by your partner, effectively relinquishing their claim to the property. Conversely, you commit to assuming the existing mortgage and compensating them for their share of equity in the home. This solution not only ensures a seamless transition in terms of property ownership but also fosters financial autonomy and a sense of closure in the midst of an emotionally challenging time.

To buy your spouse out of the mortgage, you need to contact the lender and explain the divorce scenario and request an assumption of the loan. Lenders will more than likely underwrite you as an individual to make sure you can afford the house on your own. Make sure you document all income you have, including spousal support.

If the lender won’t let you assume the loan, you need to apply for a refinance. If interest rates are lower, this might not be a bad scenario anyway. Again, this is a loan application. Meet all income and debt obligations to qualify.

If you need some assistance for selling your house during divorce in Fort Myers, give us a call at (239) 360-3176 or FILL OUT OUR ONLINE FORM.

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