Selling your house is often not a walk in the park, since it has legal implications on the transacting parties. It becomes even more difficult when you need to sell the house during a divorce. Even so, you still need to be deliberate about ensuring that the process is as smooth as possible. Working with the right people is essential when you have to sell your house during divorce. This post will give you tips on the considerations to make and what to anticipate.
It is important to take a step back so you can gain a clear picture of what this process could look like and its implications for you, your spouse as well as your children. The following post paints that picture for you:
Selling Your House During a Divorce
One of the many tough decisions that a divorcing couple face is what to do about the family house. Many, if not most, couples sell it and divide the profits, but the decision is difficult because the family house was the family home until the divorce.
When a divorcing couple reaches the part of their breakup where the family house is on the table, each should always say and think house, not home. The family house is often the largest single asset a couple shares and is almost always owned by each jointly as tenants by the entirety, which means that each has an undivided 100 percent interest in the property. The family house is so many boards, and nails, and pipes on a piece of land. The family home, however, is a state of mind and habit of the heart, and, in a divorce, is the locus of melancholic memories of happier times gone now forever. Read more at 3 Step Divorce…
It’s important to note that your seller expenses will increase the longer it takes to sell, since capital gains tax will be included. However, it is possible to sell your house quickly when you take the right steps.
Other factors you may want to clearly understand are the pros and cons of the decision to sell your house during a divorce. Becky Blanton highlights them in the following post:
Selling Your House During A Divorce
Buying and selling a house is stressful enough when you’re excited about the process. But what happens when you’re getting divorced? For most couples, their house is their largest asset, so the decision is going to take some thought….
List the Pros and Cons for Each Partner
Either sit down with your attorney, or with a trusted friend and have each partner decide separately what the advantages and disadvantages of keeping, selling, renting or sharing the house will entail. Once you’ve each done this separately, sit down together (with or without your attorneys) and go over your lists to see where you agree or disagree. Look for reasons you both share. Try to find common ground. This can get emotional as deciding what to do with the house can become symbolic of your relationship.
Remember this is a financial and lifestyle decision, not a chance to continue the fight. Read more at Homes.com…
It is important to be very objective about the decision to sell the house and avoid getting emotional and irrational, since this will only serve to add insult to injury.
If you live in Florida, there are options that are available to you, as Richard Reichmann outlines in the following post:
Agreeing to Sell and Split
One of the common ways to split assets in a divorce, especially a house, is to put it on the market, sell it and split any equity equally among the two of you. This is common especially if there aren’t children involved. It simplifies things by eliminating a pending mortgage and if you can sell quickly, expedites the divorce process. That being said, if the housing market is slow, this could drag things on longer than desired.
Talk to a realtor. Get an honest assessment for your Spring Hill home. Find out what estimated costs will get you a higher return. Negotiate realtor fees to keep net profits as high as possible and do a market analysis so you have reasonable expectations of the sale. Read more on LinkedIn…
If you want to sell your house fast during divorce in Oakland Park FL, there is good news for you. Sell Fast Fair Offer is the company to call. We buy houses from willing sellers that want to avoid the extra expenses associated with an extended home selling process, such as capital gains taxes, as well as the costs of hiring a real estate attorney or agent.
In fact, we make life easier for you by paying your sellers’ fees and giving you a closing on the actual date you choose. You are assured of a smooth process when you choose to work with us. Call us on 305-519-8900 or fill the contact form on the right for a fair cash offer, and we will be happy to discuss your needs.