How To Sell a House During Divorce

How To Sell a House During DivorceThis is one very tough subject to write about and discuss. There are extreme emotions involved so let’s try and be tactical while dealing with such a sensitive topic. For those who have never been through the heartache and pain that a divorce causes, there isn’t any explanation that will suffice. And for those who have, no explanation is needed because they know the diffculty and stress it involves.

Whether you like it or not, a divorce will affect everything in your life, especially your home. No decision that you make during a divorce is going to be easy.  You will certainly have to make a number of them and it includes making decisions with your spouse. The most difficult aspect of a divorce perhaps is the splitting of assets that both of you acquired together. And this certainly includes your home. It is very essential that you understand all your options and their possible consequences so that you can arrive at the best possible solution when going through such turmoil.

First of all you will have to decide if either of you wants to stay in the house. A lot of times neither of the two partners wants to stay in the house due to bad memories. You can’t blame anyone for that. In other situations the court decides who gets to stay in the house the partners acquired together. In any case or situation there is bound to be havoc because divorce is an emotional and physical rollercoaster.

Another thing that needs to be considered is the registered owner of the property. Marrying or divorcing doesn’t have an effect on the property rights because the name at the land registry as the owner of the property doesn’t change. However there are obligations when one marries and divorces. Even if the house was in the name of one spouse only, the other will have a legal right over it if it is the marital home and the other party will have to receive some share of the value of the house. However if your house was in your name and you want to protect your spouse form getting a share of it, you need to enter a Notice of Home Rights against your property with the Land Registry as soon as it can be possible.

If you and your spouse share ownership of the house together, one of the easiest ways out of this mess is to sell your house and split the profit. Although in this situation, the primary goal will be to sell the house as quickly as possible, you will at least get your share of the amount and will not have to see your spouse regarding the matter again. A lot of people, real estate agents or perhaps even your lawyer will advise you to sell your house as fast as possible for a fair value that you’re being offered. However you shouldn’t just rush into the situation and consider your circumstances before making a choice.  Here’s why you ought to do just that:

  • It usually takes a very long period of time to sell a house at a fair value. You need to consider where you both will live after the divorce is completed if the sale hasn’t been closed. It might make some sense when you see the finances being split on paper, but it certainly is very hard to do that in reality. If you continue to live in the same house and wait for the sale to be completed, there is every chance that this will prevail in an extreme negative atmosphere in the house especially if there are children involved. If you think you had problems before you went to court and got a divorce, wait till you live in the same house before a sale has been closed to split the profits. It might be better if one or the two of you choose to make temporary arrangements until the house is sold.
  • When selling house during divorce one thing you need to keep in mind is to price the house reasonably. You want the sale to be closed fast and in such a scenario, expecting top dollar is a mistake. However if you think you can emotionally and financially afford to wait for some time to get a profitable deal you can take your time with the sale.
  • Be sure you know the terms of your settlement before you decide to sell the house for a price. If your assets are not being divided equally you might not get a 50% share of your property. Know the property laws, terms of settlement and down payment scenario in your area before you think about selling house during divorce.

Once you have decided your options and settled on selling house during divorce, the next step would be to get the property valued. If you and your partner cannot agree on a value after valuation, the court will order a report from a local real estate agent that you both will have to accept. In the report the agent would give a fair market value of the house based on valuation rather than his own idea for the asking price.

That being done, here is how you can sell your house during a divorce easily:

First of all you need to find a neutral party to evaluate your property for you.  You can have the property evaluated through a cash home buying company like HomeSolutionsFla which would be the fastest hassle free way.  Another option if you have more time, is once you receive an estimate on the value of the house, you can put it up for sale through a Realtor® .

If you need to sell your house fast during a divorce, it is essential that you make it clear to buyers and your agent, the reason why you’re selling the house. So it is important that you tell your agent and your buyers that you’re selling the house because you’re divorcing.

The next thing that you can do is to offer all information about the house that prospective buyers would be interested in to the Realtor®. Because the Realtor® would accompany prospective buyers while they come in to tour your house, it is essential that he/she knows everything there is about it.

Put up a united front for prospective buyers. Yes they’ll know you’re selling your house because you’re divorcing but buyers wouldn’t really want to get into a conflict if they don’t see you having an interest in selling the house together. Perhaps you can designate who speaks to the buyers, agents or companies during tours and the other spouse stays entirely out of the picture. This way it will be simple and easy for the agents and buyers too.

Yes it might be painful to part with your home but think of it now as a commodity that you need to sell off as soon as possible. And for this you will have to strip down your house and make it appear as neutral as possible. Make sure there are no more personal touches left inside the four walls of your home. Be merciless about making it appealing to prospective buyers. Make improvements to your houses that are quick and inexpensive so that you can create an image for the buyers who come in. Give them space to imagine it as their home.

Make sure your house is clean. If you can’t clean it yourself, hire a local company to do it for you so that it has a presentable image when buyers walk in. Pay attention to the bathroom and kitchen. Make them look appealing rather than worn out and dirty. A lot of people make decisions about buying a house based solely on how clean it is.

You need to focus on the curb appeal of your house. Fix that loose brick on the porch, mow the lawn and trim the bushes to make them look appealing. Make sure your house is in shape so that the potential buyers find it appealing enough to consider striking a deal at your asking price.

If you people need to repaint or make improvements, make sure you agree on whose paying for what. It easy to think about selling your house but the process can be lengthy and tiresome if the right things aren’t done. So put together funds for some basic improvements like a paint job or fixing the outlook of the house so that the appeal is enhanced.

The thing is that you have to sell your house fast so that the finances can be split as per the divorce deed in your state. However if you think you don’t have time, you can look for help from the bank or your lender regarding a short sale or as mentioned, get in touch with HomeSolutionsFla to help you with a very fast and hassle free sale of your house during divorce.

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