How To Sell a House During a Divorce
A divorce is not always easy. It is a rare couple indeed who goes through a divorce without going through issues that involve assets and liabilities. These issues are usually complicated, particularly if they are shared properties, such as a house, involved.
This is particularly made difficult if one partner wants to sell and the other wants to keep the house. The best way to sell a house during a divorce is to a cash for houses investor or a “We Buy Ugly Houses” company in your area.
- Savings on fees. A buyer won’t have to deal with loan origination fees, lender fees, and other closing costs associated with a traditional loan.
- Quicker to the close. Cash purchase tend to happen much faster than with those needing to seek financing.
- The big one – No interest fees. Over the length of a 30 year mortgage, the homeowner ends up paying potentially hundreds of thousands of dollars. This is the cost of doing business without cash–but only for the buyer. The seller will get the cash, and the only headache will be taxes, but that’s another article.
- Better pricing? It is quite possible a seller will be willing to lower the price of the house if the buyer is bringing all cash to the table.
- Lower pricing. As mentioned earlier, one negative for the seller is that your buyer may be looking for a better price if paying cash.
- Investment money stuck in the house. As a cash buyer, you will have a large amount of money tied up in the house. If the housing market goes down, so does your “investment.”
- Missing out on tax breaks. There are a lot of tax advantages when buying with a mortgage, but with the 2017 tax overhaul, these plusses have been reduced a bit.
“Within hours after submitting my home information on their site I got a call back and an offer to my house. I ended up selling the house 2 weeks later. Thanks for taking the time to listen to my concerns and guiding me through this stressful time in my life.”
Resources For Selling Quickly For Cash
- Can I Sell My House and Still Live in it Rent Free
- Can I Sell My House For Less Than Market Value
- Can I Sell My Property 1 Year After Buying it
- Can I Sell My House if I Still Have a Mortgage
- Do I Have To Pay Taxes When I Sell My Home
- Do I Need a Lawyer if I Sell My House For Cash in Colorado
- Is It Illegal To Sell A House For Cash
- How Much Do Lawyers Charge To Sell a House in Colorado
- Can I Sell My House If I'm Behind on Payments
- Can I Sell My House Under Chapter 13 in Colorado
- When is it Too Late To Stop Foreclosure
- Should I Sell My House as is or Fix It Up
- Can I Sell My House While in Forbearance
- Can I Be Forced To Sell My House in a Divorce
- Can I Sell My House if My Husband is in Jail
- Can I Legally Kick Tenants Out to Sell My House
- Do I Need The Original Deed To Sell My Home in Colorado
- Should I Sell My House or Rent it Out Calculator
- Should I Sell My Home Subject To
Selling The House During Divorce
Deciding To Sell:
The most common reason why a couple would want to sell the house during divorce is financial. In most cases, the couple shared the mortgage payments on the house, likely paying off using two incomes.
If one or both parties cannot afford to pay the mortgage, property taxes, upkeep, and insurance on their own, it is much better to just simply sell the house.
One important thing to remember when selling the house during divorce is that whether a spouse lives in the house or not doesn’t preclude them from having any interest in what is done to the property.
A house that is a community property, such as one that the couple paid for together or mortgaged after they were married, can lead to complications after the marriage ends.
For example, the couple has to discuss who will pay for the property taxes, insurance, and mortgage after they are separated.
MAKING THE SALE
Before selling the house, identify any issues that need repairs and maintenance. In most cases, you will need the assistance of an appraiser to determine the value of the property.
Knowing how much it would go for in the market will help you make any subsequent decisions from hereon.
After all, most divorce agreements will involve a split of the equity or the price of the house.
To increase the chances of making a quick sale, make sure that the home is prepared and that any issues are repaired, replaced, or upgraded.
Since this will require some expense, it is important to discuss who will be paying or how the cost will be split. A divorce lawyer could help you decide on how to go about the process, especially if it will impact the split on the profit once the house is sold.
It is also a good idea to discuss who will be in charge of the showings once the house is up for sale. At this point, the couple must already have agreed on the lowest price they will settle for.
You also need to work with a licensed real estate agent who will ensure that your listing receives the best price possible. In some cases, the agent will have to mediate in case there are disagreements between spouses.
If any issue comes up, make sure to discuss the matter in a civil manner or course your opinion/decision through your divorce attorney or agent.
This is especially important once you begin receiving offers from potential buyers.
DIVIDING THE PROFIT
After the sale is completed, the division of the profit should be handled by your lawyers. Divorce laws regarding shared properties vary by state.
If you live in a community property state, for example, any property obtained or purchased during your marriage will be considered equally owned.
Responsibility for expenses made for the property will also vary and should be considered on agreements that your divorce attorneys struck on your behalf. If you are unsure about what is due to you, consult your lawyer.
“Fantastic Company, they were there to answer my many questions and they work quickly to resolve some lien issues that came up before closing. I will continue to use them in the future and also refer my friends and family to them.“
The main concern about properties during a divorce is this:
Who gets what?
Here are some options to consider:
The property is sold and equity is divided between the couple. A partner purchases the house and other legal interests so he/she can keep the property. A partner continues to use and occupy the house until a pre-agreed-upon time period, such as when the youngest child is 18, after which the house is sold and the equity is divided between partners.
Deciding on which partner/spouse gets the house after a divorce will depend largely on many factors. After all, every divorce is different and any agreement will be affected by how cooperative or disagreeable either partner is.
More Resources For Selling Quickly For Cash
- Can I Sell My House With a Quit Claim Deed in Colorado
- How To Sell A House Online By Owner
- Can I Sell My Rental Property With Tenants In It
- Can I Sell My House To Avoid Foreclosure in Denver
- How Will Medicaid Know if I Sell My House in Colorado
- I Lost My Job Should I Sell My House in Colorado
- Moving Abroad Should I Rent or Sell My House in Denver
- What Does It Mean To Sell a House as-is
- Can You Sell a House With Code Violations in Colorado
- Can You Sell a House With Mold In It in Colorado
- Can I Sell My Home and Still Qualify for Medicaid
- How To Sell A House During A Divorce
- What Paperwork Do I Need To Sell My House Myself in Colorado
- The Art of Negotiating When You Want to Sell Your House
- How Long Does Foreclosure Take After Being Served Papers
- Should I Sell My House Now or Wait Until Spring
- The St Joseph Prayer to Sell Your House Quickly
- How to Tell If 'Sell My House Fast' Is Legit!
- Can Someone Take Over My Mortgage Payments
- Can I Sell My Parents Home With a Power of Attorney
- Will I Lose My SSI If I Sell My House
ALTERNATIVE OPTIONS TO CONSIDER
Other possible options exist. You could consider co-owning your house and living as roommates. Or you could even consider something like dividing the house into half by putting up walls or barriers for privacy.
Some couples that have gone through a divorce end up keeping the house and treating it as a timeshare, co-signing an apartment lease, and splitting their time between the two properties.
Luckily, there is a much easier and simpler option for anyone curious about how to sell a house during a divorce:
You can sell the property as-is for cash to NeedToSellMyHouseFastinDenver.
For most couples going through a divorce, their main goal is to sell the house quickly and move on. Rather than having to worry about how long until it sells as it sits on the market day after day.
Most divorce couples prefer to skip the stress and hassle that comes with staging a house, making it ready for showings, paying for expensive repairs, and costly buyer upgrades that potential homebuyers expect.
In contrast, we can present you with a same-day all-cash offer, close when you are ready, and buy the house as-is. Plus, our direct home buying process is discreet; your property will not get listed, so you will not have to answer questions from any of your nosy neighbors about why you are selling.
How Can I Sell My House During a Divorce?
We can buy your house now for cash anywhere in Colorado quickly. We buy houses in any condition and situation. So it doesn’t matter if you are going through a divorce or if it needs to be renovated.
Remember, we are problem solvers and renovate houses for a living and so the dirtier, the better. We love putting our skills to the test.
We will buy your property in cash today. It doesn’t matter what your situation is honestly. We can help you. It costs you absolutely nothing to get a fair cash offer from us!
We Buy Houses in Any Condition in Colorado
“I wanted to take the time to thank you and your team very much for the purchase of my mother’s home. You guys kept things simple and to the point, and closed in a short period of time, which made my mother feel at ease with the whole situation. Thank you again for all your hard work and making everything come together quickly!”
I honestly never thought that selling a fire damaged house would’ve been so easy, fast and stress free..
We are a real estate investment company that buys, rehabs, and then sells houses at a profit. Offers are made to sellers based on fair market value and repairs needed. "NeedToSellMyHouseFastinDenver" will do everything possible to bring forth the highest possible offer to give the seller the most benefit from dealing with a fast sale.