The Fastest Way to Sell Your House During a Divorce
It’s unfortunate when you have to go through a divorce. There are many complications—legally, financially and emotionally on both sides. There are a lot of issues that need to be worked through and agreed upon by all parties involved. Often one of the biggest points of contention is the house you share. Read on to find out how to sell house during a divorce.
Divorce Homeownership Options
There are some cases where one spouse my get sole ownership of the house as part of the divorce agreement. Then, there are other situations when both parties retain shared ownership while one continues to live there. Lastly, another common solution is to sell the property and split the proceeds. It may not be an even financial split. That’s for you to work out with our attorneys. However, the house is likely one of your biggest financial assets and it can make sense just to sell it and move on with your lives after the divorce is complete.
The timing of the divorce proceedings and your financial standing may determine how you go about selling the house. If one or both spouses need the money to get a new place or pay for other expenses, then time may not be on your side. Going through a traditional real estate sale may cost too much and take too long. You have to hire a Realtor®, get the property ready for showings, wait for offers and then go through the final closing process. At best, this home selling process will take a few months to complete. You and your former spouse may not have that kind of time and also deciding who covers any closing costs and other out-of-pocket expenses can get messy.
Fast Cash Home Sale
Another option to consider is a cash home sale. There may be a cash buyer looking for a home like yours or you can reach out to a real estate investor—or a home buying company like PropertyLark. A cash deal can be completed within a week or two if you are motivated to sell quickly. There are no complications with the buyer’s financing. Inspections generally won’t be required as the buyer is purchasing the property in as-is condition. There are fewer contingencies (if any) and a lot less red tape wrapped around the transaction.
A cash sale can be completed quickly and easily so that all parties get what they want. You and your ex-spouse can split up the profits from the home sale however you see fit. Your lawyers can get paid. Your shared debts can be paid off. You can use that money to find new places and move on with your lives.
A fast cash home sale may not net you quite as a much money as a traditional sale, but it will offer more convenience and a much more streamlined time frame. You have a lot going on when going through a divorce. Why not simplify the selling of your house?
If you are interested in selling your house for cash or exploring other divorce home selling solutions based on your specific situation, contact PropertyLark today. To get started, please fill out the contact form on the right. Tell us a little about you and your house. We’ll get back to you within 24 hours with a fair cash offer or to discuss other options.