If you’re going through a difficult divorce and trying to figure out what to do about your unwanted real estate, selling your house while divorcing can be one of the first things to cross your mind. If you’re in this situation then keep reading this blog post to give you our best suggestions about selling your house while divorcing in Pensacola…
Divorce can be one of the hardest emotional events someone can face in life, especially after a long life filled with memories. When you’re selling a house during divorce on the top of the emotional roller coaster. As if the emotions and bureaucratic procedures aren’t enough, you’ll need to deal with the tricky aspects of selling a house while divorcing.
But don’t let this daunting task defeat you, my dear homeowner friend! In this blog post, I shall be your guide on how to get your house sold amidst a divorce. The information I’ll dish out here will undoubtedly help in resolving this overwhelming situation, making the process less stressful, and help you move forward with your life.
Divorce can be challenging and emotional. Yet, in the midst of the difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house while divorcing in Pensacola. Here are our best strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible.
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).
Get on the same page with your partner. Trust me; you don’t want to find yourself in a rut where things get messy on account of disagreements with your partner when you’re trying to sell your house during a divorce. Start by getting on the same page with your partner. Discuss the details of the sale and agree on the terms. It’s best to create a timeline outlining important deadlines such as finding a Realtor and putting the house on the market, agreeing on the selling price, reviewing offers, and ultimately closing the sale.
If the house needs a lot of repairs. Consider selling your house while divorcing to a trusted home cash buyers like Quality Properties Of Northwest Florida LLC. At our company. We can close in 10 days without you come up with any expenses. AS you know if you don’t know by now. We buy houses during divorce or after in Florida. Consider this option and reach out to us if you’re ready to sell.
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?
Deciding the House’s Fate with a Judge
If you and your partner can’t agree on the house’s fate, then it’s up to a judge to decide. It’s best to have a real estate lawyer to represent and guide you through the legal process. A judge may decide to grant ownership to one partner and force the other to buy out if he or she can’t get financing. Consult your lawyer to understand the laws surrounding real estate in Pensacola to help you reach an agreement with your spouse or dissolve the confusion altogether.
Prepping your House
First impressions can make or break your sale, so it’s best to prep your house by getting it cleaned, painted, and decluttered. You could also hire an interior designer to spruce up the place to create an appealing aesthetic. Be sure to fix any minor repairs and replace any appliances or fixtures that are outdated. Remember, your house must be move-in-ready for your potential buyers.
Be prepared for change
Selling your house while divorcing means you’re looking to start anew. This mental readiness is vital to ease into the forthcoming change. Be prepared to downsize, adjust to the change, and be prepared for your children’s reactions to moving. It’s important to create a budget before, during, and after the sale of your home.
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 to sell your house to a real estate buying firm (which is what we do here at Quality properties of Northwest Florida LLC). The real estate buying firm will buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean up or fix up the property and the sale can be completed in days, not months, with very little paperwork.
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.
One of the hardest emotional events in life is a divorce. mental readiness and expert advice can make all the difference. This guide has given you insights into how to sell your home quickly and smoothly while avoiding the pitfalls that can come with divorce. Remember, take your time, seek professional advice, and always strive for an amicable break. While it’s tough to let go of one life, another can be just around the corner filled with exciting opportunities and living a life with new potential.