Selling Divorce Property: What You Should Know

Selling Divorce PropertyYou’re getting a divorce, and you want to sell your house fast. What should you know about selling your house before you start selling with an agent?

Selling Your Property During an Amicable Divorce

During an amicable divorce, you can sell your house fast. You just need to agree upon the sale with your ex-partner and then put the house up on the market (or sell direct to a cash buyer; but more on that later).

An amicable divorce makes the process easy. When selling, your funds will be held in escrow and then distributed based on what you agree upon. It isn’t always split down the middle. It depends on how much money you put into your house and whether there are other assets you need to split.

Selling Your Property During a Contested Divorce

There are a few options during a contested divorce. If your ex-partner doesn’t want to sell, they can offer to buy it from you instead. It’s possible that you could exchange your half of the house’s ownership for something else, such as a business. If you can’t agree on the value of the property, the judge and the courts may need to get involved.

Frequently, the house will just be liquidated. If no one can agree on who gets to live in the house, it’s the most expedient solution. But a contested divorce does mean that it can take longer to sell a house and that there may be more issues.

How to Split a House During a Divorce

A house is part of marital property. If you both disagree on who should live in the house, you will either need to mediate this or sell the property entirely. If one person wants to keep the house and the other doesn’t, then the equal value will need to be traded to the person who doesn’t want to keep the house. It’s not always possible for one partner to keep a house. If there’s a mortgage, they would need to refinance it solely under their own name and income.

Most of the time, trying to keep a house during a divorce is more trouble than it’s worth. You need to go through the entire process of figuring out who gets the house and what the other party gets in return. It’s possible that the person who wants the house won’t even be able to qualify for the mortgage loan to keep the house. If you sell the house, you can simply split the value of the property.

You Can Sell Your House Direct for Cash

What keeps people from selling their houses during a divorce? Sometimes, it’s that they just don’t have the time to put the house on the market. But we buy houses in cash off the market. You don’t need a real estate agent, showings, or staging.

Other times, it’s that the house needs significant repairs to make it marketable. Divorce rarely happens at a convenient time. It could be that you were in the middle of getting a new roof done or a new foundation. A divorce will throw a wrench in these things. You can’t invest a lot of money in a house when you aren’t sure what will happen to it.

But in both these cases, we can help. We buy houses in as-is condition, regardless of how old they are or how many repairs they need. And we can buy your house in cash, so you can settle your divorce faster and more amicably.

Tired of paying additional legal fees as your divorce goes on? Contact us today to find out how you can sell your house fast. At KM Home Buyers, we can get you a no-obligation quote within days. Call (813) 213-4884 to learn more.