How to Sell Your House During a Divorce
If you are in the process of going through a divorce, there is probably a lot running through your head. All assets and debt need to be divided during the divorce, but who gets what? In some cases, neither spouse is able to afford the house on their own, so instead, you might be interested in selling your home. What do you need to know about selling your house during a divorce? For many couples, the house is their greatest asset, so there are also a lot of important implications that must be considered.
Be Clear About How the Proceeds From the Sale Should Be Divided
Before you even think about selling the home, you need to understand exactly how the assets from the sale of the house are going to be divided. If you still have a mortgage on the house, the mortgage will have to be paid off before you can collect the money that is left. You might also have to pay closing expenses and real estate commissions after the sale is finalized, but there are ways for you to avoid some of these fees.
In some cases, you may not understand exactly how the assets from the sale of the house are going to be divided until after the rest of your assets have been broken up. Even though it might feel as though the proceeds from the sale of the house should be divided 50-50, that is not always the case. You need to work with a divorce attorney who can help you figure out how the proceeds from the sale of the house are going to be divided.
Who Lives in the House During the Selling Process?
Once you put the house on the market, who is going to live in the home? There is a chance that you and your spouse do not want to live in the house together if you are going through a divorce, and it could make it difficult for you to speak with your attorney in confidence.
If there is still a mortgage on the house, you need to figure out who is going to pay for the mortgage after one spouse moves out. Will the mortgage continue to be divided evenly? Or is one spouse going to pay the entirety of the mortgage? If that is the case, how is this going to impact how the money is divided after the sale is finalized?
Do You Want to Do Repairs Before You List the House?
Furthermore, you need to think about whether you want to do repairs on the house. Doing repairs on the house could help you get more money for the home, but you may want to sell the house as quickly as possible, particularly if you do not want to pay the mortgage any longer. There are ways for you to sell a house during a divorce even if there are repairs that have not yet been completed.
Sell Your House to a Cash Home Buyer for Cash
If you want to sell your house as quickly as possible for as much money as possible, you should consider selling it to a real estate investor. A real estate investor does not have to get financing to purchase your house, so you should be able to save money on closing expenses. Furthermore, you can save money on a real estate agent commission because you don’t have to worry about hiring an agent. A real estate investor can do all of the paperwork for you. If you want to sell your house during a divorce without having to do any repairs at all, sell it to a local real estate investor.
Contact Blue Chicken Investors to See How Much Your House Is Worth in Northern Kentucky
We are Blue Chicken Investors, and we would be happy to provide you with a cash offer for your house. We buy houses in the local area, and we can help you sell your house fast. With a cash offer, you can walk away with more money in your pocket while saving money on repairs, fees, and commissions. Contact us today to see how much your house is worth!