If you’re going through a divorce and you’re trying to sell a house, you might be wondering, “what if my house won’t sell during a divorce in Pensacola?” You must think about the whole situation that you’re in which can take a toll on focusing on selling the house without the emotional impact that divorce can have on any couple, which it’s easier to say than done. So, if you’re asking “what if my house won’t sell during a divorce in Pensacola?” That’s a good question to ask so be sure to read this blog post and we’ll share our best answer with you…
A divorce can be a challenging situation: it’s complicated, it’s expensive, it’s time-consuming, and emotions are running high. And in all that effort you also need to sell your house so that you can split the value of any equity in the house and put it all behind you. But what if your house doesn’t sell?
I’m going to talk a little out of the subject so please hear me out before we talk about the house and how we can sell it. I will take this opportunity to talk about what’s more important than the house itself. I’m talking about you and your spouse. If you can work out the problems and solve the issues between you two without the divorce, I think this would be the more important question that what if my house won’t sell during a divorce in Pensacola or anywhere in the world for that matter. Specially if we have kids involve, and in this case, it’s even more critical if we can work things out and overlook the problems that we have. I know some will think it’s completely nonsense because the issues are greater than anything. But I deeply believe that nothing more greater than the love we have for each other, for our kids, and for our families.
However, in some cases, there’s nothing much we can do about the marriage condition and the divorce is inevitable. if we’re not going backward to the things that were once before, and you think that the divorce is the only solution, then it’s time to talk about the house and what could be the reasons that it might slow down the selling process, or worst case, not selling the property at all! In this article, I will provide you the reasons why your property might not sell and what you need to do to sell your property without any delays and faster than what you think.
If you’re going through a divorce and wondering, “what if my house won’t sell during a divorce in Pensacola?” then here’s what to do…
What Are The Reasons Your House Doesn’t Sell?
Unfortunately, there are many reasons your house might not sell. Some of the reasons are related to the normal market conditions (and they might be present even if you weren’t going through a divorce). But there might be additional reasons that your house doesn’t sell — for example, maybe you have a complicated divorce or there’s a lot of conflict between each party in the divorce and this makes it too difficult for the buyer to negotiate on the sale of the property. I will provide you the following reasons why your property might stick around for a while before selling. Also you check out my other blog on the reason why won’t my house sell and the reasons houses sometimes they don’t sell.
1- Pricing The House Too High
If you price your property too high regardless the situation that you’re in, the house is not going to sell with a high price despite what are the reasons why you have that price in mind. Home buyers don’t pay more than what the property worth, and their agent is going to give the buyers the comps (comparables)for your property. Remember that there are competitions out there and buyers are going to see other houses and compare your house to other houses before they even consider making an offer.
You need to make sure that you know what’s the comps are in your area to better price your house from the beginning to prevent any home sale delays.
2- The Real Estate Market Is slow
We always need to look at the market condition and understand the real estate market that we’re in. If the real estate market is slow, then your house is going to stick around for awhile before selling. For you to better understand the current real estate buyer market you need to look at 3 things.
1- At what price are the houses sold for in your area per square feet. Knowing this number will give you the necessary knowledge to price your house at a reasonable price without over pricing it, or leaving money on the table. So how do you do the math?
You will pick at least 6 houses sold withing a quarter of a mile in the last 6 months. The you will divide the price they were sold for by the square footage of that house. Then you pick what is the average median price sold per square feet in your area by the square footage of your house, and bingo! You know now what’s the price you should list your house for.
Now, if your house needs repairs and the comps that you pulled were in a mint condition, Then you have to deduct the cost of the repairs you house needs for the number you came up with before listing, or you fix the house up to the standard of the other houses sold in your area and list it at full price.
2- What’s the housing inventory in your city. This information is going to give you how many houses out there. knowing that number will give you more clarity on what’s the size of the competition out there. Home buyers like I mentioned above, will always see dozens of houses before they make a decision on which house they’re going to make an offer.
3- What’s the average listing stays on the market. This information will give you the estimated time you’re going to have your house on the market and what to expect, This data will be very important specially if you need the money fast, and based on this data you can price you house accordingly.
3- Your House Needs Repairs
Like I said above, home buyers are going to be looking all over town to find the perfect house for them, With that being said, likely you’re going to have to give discount for the repairs that the house needs, or repair the house before selling to get the full price for it.
However, most buyers love to buy a home without having to deal with repairs down the road, and believe it or not, even if you give them a discount most buyers want to get into a house without making any repairs. Most buyers they rather buy a house with much higher price that doesn’t need anything than buying a house that needs repairs or updates. I’m not here to sugar coat things up. I want to give you the necessary knowledge you need for you to not get stuck in a situation where you have to give deep discount that what you wanted to. Better know this now than knowing this when you need the money the most, and then selling your property at a price way less than what you anticipated before.
I have bought and sold hundred of homes before and I want the best outcome for you. My article here is about real life business experience. And I want every homeowner to get the most money possible for their home.
4- Your Agent Is Not Doing A Good Job
There are a lot of real estate agents out there. Not all real estate agents are created equal. I personally deal with agents all the times when we relist the houses after we have done the renovations for our flips. Some are better than others. Some will list your house and do literally nothing to sell it. There are no extra efforts coming out of your agent. I have dealt with some before. The last thing you need is an agent who’s looking for a commission without making the necessary efforts to sell your home. Specially more so in a slow real estate market. You need someone who can make some calls and get in touch with other agents to let them know about your house.
Also, a good agent will list your your property in all social medias available to get more eyes on your house. Not only the MLS! The more people see your house, the more potential buyers will make an offer on your house. It’s that simple. But it will take some leg work on the agent behalf to do the necessary work to get the house sold specially in a low market. Unfortunately some agents are lazy to do more than just listed the house on the MLS and put their beautiful picture on the front yard. It will take more than just that in a low real estate market. Trust me!
In a fast real estate housing market it’s a different story. You could have a monkey for a real estate agent wearing a suit, and you will have buyers putting an offer on your house.
The truth is, there’s no way to know upfront if your agent is good or not. All of them will claim that they’re the best. But truly you wouldn’t know in most cases until you’re already 2-3 months in with your agent to know what they’re made out of. Some are good agents and you decide to list your house with one. Make sure to ask questions. You can look at their google reviews and see what others are saying about that agent. But even then, you still won’t be able to know until you deal with that agent.
If you decided to go with an agent, make sure that if you decided to cancel the contract with him/her, that you won’t be paying any penalties for canceling the contract. Have like a trial period to see the quality of the work they do. If it’s not to your expectations. Then cut them loose.
5- Not In A desirable Location
There’s a saying in real estate. Location, location, location. If the house in a location where there are a lot of crimes, then the buyers going to back off from the house because this is where they’re going to put their families in, and they want to make sure that the area is safe for their families, and for their kids to play in the neighborhood without them worrying about their safety.
Also, houses in a rural areas are less desirable than houses in the city where everything is close to them without them driving a lot before they get to a hospital, grocery store, or a mall.
At Quality Properties Of Northwest Florida LLC, we buy houses in any location or any condition. We buy houses for investment reasons and we don’t care about the location of the house much. For us, every location can be used for a purpose, either a rental, flip, or owner financing if we have to. We have a creative ways to use the property for any location, and based on that we use the property accordingly.
So, if you’re asking what if my house won’t sell during a divorce in Pensacola? Know that it could be one or more of the reason I mentioned above.
This Delay Adds To The Problem!
If the house is not selling as quickly as you’d like, this just adds to the problem and it ultimately ends up costing you more — in bills and taxes and mortgage payments, as well as in additional attorneys fees.
Simply put, you might be hoping to get a high price for your house but your divorce could actually be scaring people away and costing you money. Some buyers will think if there’s a problem with the sellers relationship, they could translate that to the house could have problems with it too. Not all will think that way, but the superstitious portion of the home buyers might think that way. Don’t think of it what’s making sense to you. You need to think about how others are thinking and act based on that. We’re not here to make a sense of how people think. We’re here to sell your house in the quickest way possible!
Also, to other buyers might smell blood. And will translate the the divorce as a sign of desperation, and will come out swinging with low ball offers possible.
For those two simple reasons. No one needs to know the reason why you’re selling your house when it comes to divorce. Protect your privacy to protect your money and your bottom line.
Fortunately there’s another option that will make your life a lot easier…
Strategy For Divorce Houses: Sell To A House-Buying Company
Here’s an effective strategy for people who are trying to sell their divorce house — instead of listing the house with an agent, sell the house directly to a real estate buying firm like us here at Quality Properties Of Northwest Florida LLC. As real estate buyers, we may not always be able to pay the market price for a house… but many divorcing people realize that holding out for a higher price can actually be a costly strategy once you factor in the cost of repairing the property, the carrying costs while you wait months for an agent to find a buyer, and then the agent’s commission (sometimes thousands of dollars in most cases).
If you’re wondering, “what if my house won’t sell during a divorce in Pensacola?” and if you want to sell your house fast, a real estate buying firm like ours is the fastest and simplest choice to get the property out from the middle of your divorce, give you money for it, and allow you to wrap up this portion of the divorce proceedings.
When you work with the most reputable home buying company on the gulf coast like Quality Properties Of Northwest Florida LLC, you can rest assured that all the information we receive from you is confidential. As Kamal the owner and the property acquisition of Quality Properties Of Northwest Florida LLC, will be at the property to talk to you about selling your home. To make sure that you’re well taking care of in the best way possible, and to give a fair cash offer the same day!
There are no hassle and no obligations when you’re selling your home during divorce when you reach out to us. This way you don’t have to worry about asking the question “what if my house won’t sell during a divorce in Pensacola?” any more. And for you to get to focus on what’s more important in your life.
If you’re considering divorce and you have a house that you want to sell, and asking what if my house won’t sell during a divorce in Pensacola? You don’t have to worry if you do the right steps. with knowing the reasons why the house wouldn’t sell before hand for you not to be losing money.
With price your house right. Knowing the current real estate market that you’re in. Realizing your house condition and price it accordingly. Know your real estate agent before hiring and have a trial period without paying any penalties for contract cancelation. Understand you property location will give you more clarity on what to expect. You will be on your way to sell that house with no time!
And last but not least. Reach out to us at Quality Properties Of Northwest Florida LLC to get a cash offer with no hassle and obligations to save you time and money!:)