Tips for Selling Your Home When You Divorce
Things to Consider When You Divorce
The first step to selling any home, especially during financially and emotionally difficult times like divorce, is for both parties to sit down and analyze their financial situation. There are many things to consider before you make a big decision like selling your home; however, here are some of the benefits to a fast sale:
- Avoiding Co-Ownership: the awkward aspects of day-to-day living can create a lot of issues with your spouse and it’s often challenging to find a workable solution. From deciding which spouse will remain in the home to financial and personal responsibilities related to the home, many couples elect to sell fast to avoid conflict.
- Financial Assistance: as if hiring a divorce attorney isn’t enough of an expense, many couples that decide not to sell fast will have to navigate the tricky issue of their mortgage payment. If one person hopes to get the home in a settlement, they must first decide if they can afford to pay the mortgage. On top of that, will the person be able to pay their bills? When you add up property taxes and repairs, it may be best to sell the house and utilize that money to reinvest in a new living situation.
- Put Happiness First: After a divorce, homes can become nearly unlivable because of the unhappiness associated with living there. Will the bad memories stick with you even after your spouse is gone? Would you prefer a fresh start? It may be best just to move on and start over somewhere new where you can restore your happiness.
- Selling Fast: The traditional real estate market can create a lot of conflict. If you want to sell before you finalize your divorce, so both parties have a clear understanding of their total finances, you probably don’t want to wait around for six months to a year for a potential buyer. You also probably don’t want to get involved in debates over whose responsible for keeping the house show ready and paying for the yard work to be done. Selling fast makes it easier to move on in your life.
If you’re looking for a fair, all-cash offer on your home in as little one week, contact the professional homebuyers at Quick Turn Properties.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.