Written By Souki Fournier | November 9, 2021 | 4 minute read
Going through a divorce is hard for anyone. Not only do you have to separate from a person you’ve been sharing your life with, but you also have to separate your property—including your house.
For most married couples, the home is their largest shared asset, which means deciding what to do with it is often the largest focus. There are a few options, but sometimes the best solution is to sell the house. There are even some instances where it may be required for the settlement.
If you’re going through a divorce and need to sell your house quickly, keep reading. This article will tell you everything you need to know.
Getting a divorce finalized is often a lengthy process, especially when a property is involved. You’ll need to decide what route to take, and there may be a few options to choose from, including:
You might choose to sell your home based on financial, legal, and personal reasons, but that doesn’t make it any less stressful than other options. Selling a house, in general, can be a costly, time-consuming process. Combining this with the divorce process will only amplify the stress that comes with selling your property.
To make things easier, follow these three tips to sell your home as soon as possible during a divorce.
In a divorce, neither person can make decisions on their own. Both individuals are responsible for the mortgage, so you’ll need to decide together whether selling your house is the right option.
To make the decision easier, it’s recommended to consult a lawyer or tax specialist to oversee the process.
However, deciding on whether to sell or not isn’t the only thing you need to consider. Each party needs to review any financial issues surrounding the property before listing it. It’s crucial to sort these problems out before listing your home on the market.
As quickly as you want to sell, attracting buyers before you’re ready can just add more stress to the situation.
Time is a critical factor for selling your home during a divorce, but that doesn’t mean you should rush the process. In addition to working out the details prior to listing, you also need to know your property’s value.
Knowing what your home is worth ensures that you’re both getting a fair amount of equity out of the home. To find out the value, work with a realtor, get an appraisal, or get an estimate on Zillow.
There are several factors that affect the value of your home, including:
The last thing you want is for negotiations to last forever once your house is on the market. That’s why both parties need to agree on the price and how much you’re willing to settle for prior to listing.
This step shouldn’t be too complicated since the escrow company will distribute the payments, but the amount of money each person receives can vary. Sometimes it’s not as simple as splitting it down the middle. For example, if one spouse has been paying the mortgage during separation, the distribution will need to be adjusted in the settlement.
Selling a house on an open market is already stressful enough, but adding divorce to the process only amplifies this. Fortunately, this isn’t your only option for selling. Instead, sell it as-is by getting a cash offer from Simply.
If you want to know what you can get for your home, talk to Simply.
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