Tips on How to Sell Your House After Divorce
Divorce is one of the most difficult parts of life. Along with the dissolution of marriage, parting couples need to deal with a lot of things. One of the biggest cause of major disputes among divorced couples is what to do with their shared real estate assets. It is important to note that any property that has been purchased after marriage is considered a shared asset. Therefore, both parties have an equal interest in the property and must split it equally.
How Can A Property Be Divided After Divorce?
At the dissolution of your civil partnership, divorcing couples need to divide their properties and assets after the decision becomes final. And dividing the property can be an overwhelming experience for involved individuals. There are many ways for the property to be divided and below are your options.
- Sell the home and the money generated can be divided by the divorcing couple.
- One of the partners can buy the house and pays off their ex-partner in order to become the sole owner of the property.
- Transfer the ownership to one party by giving up ownership of the house.
In most cases, parting couples prefer to sell their house because they either cannot afford to buy the other out or downsizing is a better and more practical option for each of them. In such a case, it is best to put the property in the market and wait for prospective buyers to make an offer on the property.
Choose A Good Agent
Dissolution of marriage often makes one of the partners ask themselves on “what is the best way to sell my house fast?” Before even thinking about selling your house fast, the next thing that you need to do is to choose a good agent who will sell the house for you. Remember that divorce is such a difficult and harrowing event and seeking help from a good agent will make it easier for you to sell and dispose of your property.
It is also essential that you come to an agreement over the price of the house. Mutually agree on the price of your property with your ex-spouse. While this can raise conflict between parting couples, this is where the agent comes in as they can provide you with professional estimates and calculations on the true value of your home.
Staging the House
In order to attract potential buyers, staging the house is key to make it more presentable during an open house and ocular visits of would-be buyers. This means that the owners of the house need to invest in minor repairs. The parting couple need to decide where they will get the money to renovate the house. Moreover, they need to move out of the house once it has been put on the market. But if one of the spouses is still living in the house, then he or she is responsible for decluttering and renovating or even staging.
Review the Offers
It is important for the couple to work together especially when it comes to reviewing offers from potential home buyers. This can be quite difficult because parting couples might find it problematic to come up with a consensus on the right price. Again, they can seek advice from their real estate agent, but they still need to make the final decision themselves.
Divide the Cash
Once a final decision has been made and the house has already been bought, it is not yet the time for divorced couples to rejoice. You might be thinking that it is easy to “sell my house fast” after divorce, but it is further from the truth.
After the sale, the revenue generated should be divided by the couple. The easiest way to deal with the division of the profit is to seek help from an escrow company. This company will pay off both parties after all obligations have been paid for. Dividing the profit also depends on many situations. If one spouse is paying for the mortgage payments in the past, prior to the separation, then that person will definitely get a greater share of the profit. It is important that the distribution of the profit is adjusted according to the contribution of the spouse.
The Challenge in Selling A House After Divorce
Ideally, it should be easy to sell a house but undergoing divorce is a difficult stage so the idea that it is easy to “sell my house fast” is really just a fantasy. In most cases, you might not feel motivated to prepare and stage your house to attract buyers. You might also find it difficult not only dealing with your estranged spouse but also with appraisers and inspectors. If you put off all these little things needed to sell a house, then your house just might end up on the market waiting for a buyer for a long time. And this may not be such a wise decision. For this reason, one of the best things that you can do is to do a short sale so that it is possible for you to “sell my house fast.”
How Professional House Buyers Can Help Sell My House Fast
Selling your house on a short sale is a difficult process but still possible. One of the solutions that you have is to seek the help of professional house buyers like SellQuickCalifornia. With us, we will provide cash for your house so that you can start enjoying your money at the soonest possible time. We can assess the value of your house regardless of its location and condition so that you get the best price on the market.
As someone undergoing a divorce, you might not have the energy to fix and do repairs in your house. Seeking help from professional buyers allows you to sell your house as-is. Thus, there is no need for you to do any renovation work.
The soonest that you sell your house, the soonest you can divide the profit with your estranged spouse. That way, it will be easier and faster for you to move on, seek that peace of mind and quarantine yourself from toxic people in your life.