If you’re going through a difficult divorce and trying to figure out what to do about your unwanted real estate, then keep reading this blog post to give you our best suggestions about selling your house while divorcing in North Fort Myers…
Divorce can be challenging and emotional, often leaving individuals feeling overwhelmed. In the midst of this difficult situation, if you are like many other divorcing couples who own a house, you might be trying to figure out how to navigate selling your property in North Fort Myers. Managing the real estate aspect of a divorce requires careful planning and cooperation to ensure a smooth process. Here are our best strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible: First, it’s crucial to determine the value of your home through a professional appraisal or market analysis, which will help in making informed decisions. Next, consider whether selling the house is the best option or if one partner buying out the other is more feasible. If you decide to sell, work together to choose a reputable real estate agent experienced in handling divorce sales. Clear communication and setting mutual goals for the sale can alleviate some of the stress. Additionally, ensure all financial and legal documents are in order, and seek advice from a financial advisor and attorney to understand the implications of the sale. By taking these steps, you can help streamline the process and focus on transitioning to the next chapter of your lives.
Houses In Divorce Can Be Complicated
During a divorce, the two parties seek to split their assets in half. For some assets are liquid (such as money), it’s very easy to do. For other assets, including real estate, it’s much harder to do because how do you split a house in half? It’s one asset that derives its value from being whole, and it’s usually a structure built on a plot of land, so it’s not going anywhere.
Since cutting the house down the middle isn’t an option, should one party get it or the other? And maybe in some divorces, one party might be invited to take the house only if they can pay for it (which is a massive expense a time that people rarely want to incur such expenses).
Here’s How To Split The Real Estate Asset
The best way to split the real estate asset is to sell it:
The property itself might have some expenses incurred during the sales process, or there might be outstanding bills, or there might still be a partial outstanding mortgage on the property. So the two divorcing parties should probably just sell the property and direct their attorneys to apply the money earned from the equity to any outstanding debts.
The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (such as 50/50).
But this begs the question — how do you sell the property?
The Fastest Way To Sell A Divorce House
When it comes time to sell, most people think of selling through a real estate agent. Unfortunately there’s a few problems with this:
- the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
- the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
- the agent will then involve both parties in the negotiation with the buyer and there is A LOT of paperwork to shuffle back and forth
This is a costly and time-consuming way to sell, and it can actually make the divorce proceedings so much worse.
Fortunately, there’s another way to sell, and that’s by selling your house to a real estate buying firm, which is what we do here at Sell My House Now USA. Opting to sell to a real estate buying firm can significantly simplify and expedite the process, providing a fast and efficient alternative to traditional selling methods. These firms purchase your house quickly, for cash, and in its current condition, eliminating the need for any repairs or renovations. This means you won’t have to worry about cleaning up, staging, or spending additional money on fixing up the property. Additionally, the transaction is typically free of commissions or fees, allowing you to retain more of the sale proceeds. The entire process is designed to be hassle-free, with minimal paperwork, and can often be completed in a matter of days rather than the several months it might take to sell on the open market. This streamlined approach not only saves time but also reduces the stress and uncertainty that often accompany traditional home sales.
If you’re going through divorce and want to just be done with it and move on with your life, just reach out to us and tell us about the house you want to sell. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.