Selling Your House During Divorce
LexInter | January 25, 2022 | 0 Comments

7 Tips For Selling Your House During Divorce

There are many things to think about when going through a divorce. In addition to the emotional toll, you have to deal with the legal proceedings and other tasks it entails. In most cases, due to personal, financial, or legal reasons, you may have to deal with selling your house as well. This could add more stress to your current situation.

Tips for Selling Your House During Divorce

To help make the process less stressful, if you’re not sure about what steps to take or where to start, here are some tips you may want to keep in mind.

1. Hire An Agent

REAL ESTATE AGENT AND SALES AGENT

Generally, it’s quite doable to sell a house without hiring a real estate agent. However, if you’re in the middle of a divorce, it may come in handy to have one, as it could take some weight off your shoulders.

These days, it’s not that hard to find an agent you can rely on when selling your house during divorce. If you’ve previously worked with a real estate agent and you’re satisfied with them, and if they’re available for work, you shouldn’t hesitate to hire them again. However, if this is your first time hiring an agent or if you’d like to work with a new one, you could ask for referrals or search online for a reliable one nearby. Just make sure to hire a qualified and experienced real estate agent to get the best results.

2. Prepare Your House For Selling

Selling a house requires thorough preparation. Before you put your property on the market, consider if your home requires any sort of maintenance. Remember that the showing condition of your property is important.

More often than not, you may need to stage your home to get the best possible offers from potential home buyers. It would also be a good idea to hire a home inspector so you know which areas of your house need to be improved.

Once you’ve decided on the upgrades or repairs to invest in, you and your former spouse should come to an agreement on how to split the expenses or how the investment might affect the profit split. It would be best to discuss the process with your divorce lawyer so you can formalize an agreement before investing in said upgrades.

3. Consider A Cash House Buyer

Having conversations regarding home-selling and finances during a divorce is often complicated. This is especially true if your divorce has turned ugly or acrimonious, and if both of you are no longer on speaking terms. For that reason, there might not be room for civil discussions, and you might have a desire to sell your home quickly so you can both move on.

PROTECTION PRIMARY CASH OFF

So, if you’d like to sell your house as is, without having to deal with upgrades or maintenance, the easiest and fastest way to do so is to work with a cash buyer.

The best thing about cash buyers is that they don’t have to go through lenders for financing, which helps cut down the time it takes to close. They’re not intimidated by challenging situations, court cases, and lawyers. In addition, they offer a fair cash price, and they can take care of most of the paperwork to settle everything and help you move forward with your divorce quickly.

4. Set The Price Right

Whether or not you’re in a rush to sell your house during a divorce, it’s essential to set the price right. If you don’t have a clue about your property’s current market value, you can always ask your hired agent for a recommendation. If the recommended price is far from what you had in mind, you can also consult another realtor for a second opinion.

In some cases, your divorce lawyer may work with you on valuing your assets, and they can help you with the appraisal process so you can list at the best possible price.

5. Have Your Own Offer Strategy

Once you decide to list your home on the open market, you need to know how to deal with agreements, offers, and negotiations. When offers start coming in, having a clear system or strategy in place is essential. This will help both parties and legal representatives to communicate clearly.

6. Plan To Divide The Proceeds Properly

If it isn’t already outlined in your divorce settlement, you have to determine how the proceeds of your property sale will be divided. Keep in mind that 7% to 10% of the proceeds may go toward fees, such as your taxes and agent fees. The rest can be used to pay off the existing mortgage.

It’s also crucial to determine how the fees will be paid. This is particularly true if your home sale doesn’t cover everything.

7. Be Honest About The Time Needed For Closing

If you’re distressed about selling your home due to mental and emotional strain, it may be wise to take all the time you need. Though this process can be challenging, it’s for the best. You’ll be able to move forward knowing that you’ve made the necessary preparations to make it through what might be one of the toughest chapters in your life.

Be Honest About The Time Needed For Closing

Once you decide to sell your property, know that the closing date is typically unpredictable. It might be a month or more. Try not to be worried about however long it may take.

Conclusion

Selling your house during divorce isn’t a straightforward process. It’s essential to note that every scenario is different and that you’ll have to get advice that relates to your case. However, if both parties agree to sell the house, the above tips can help you get the most satisfactory results.

Want to read top-quality articles? If yes, then visit our blog. You will find tons of helpful articles written on various sectors of law such as construction accident law, gun rights law, expungement law, and many more.

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Lexinter Law, with a team of dedicated authors who strive to provide you with all the relevant and actionable tips on the legal aspect of your life. Our goal is to educate you so that you can make legal action with ease, or find the right person who can help you with your unique personal legal dilemma. Take care!

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