If you’re going through a difficult divorce and trying to figure out what to do about your unwanted real estate, then keep reading this blog post to give you our best suggestions about selling your house while divorcing in Willingboro…
Divorce can be challenging and emotional. Yet, in the midst of the difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house while divorcing in Willingboro. There is a lot to deal with and if we are able to provide you with some clarity as to what options you have when selling your house in Willingboro then we would love to be of service. It can be difficult to focus on the house during this time so here is a quick guide to selling your house in Willingboro while divorcing.
Here are our best strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible. Planning is a key component and we hope that this will help you lay out a good plan. This is a long process sometimes so it can be super beneficial to know your plan when things get complicated.
Houses In Divorce Can Be Complicated
During a divorce, the two parties seek to split their assets in half. Some assets are liquid (such as money or cryptocurrency such as Bitcoin or Ethereum), and when that is the case then it’s very easy to do. Typically an agreement is come to for percentage split and then the assets are just divided and then dispersed.
For other assets, including real estate, it’s much harder to do because how do you split a house in half? It’s one asset that derives its value from being whole, and it’s usually a structure built on a plot of land, so it’s not going anywhere. Obviously splitting it in half is off the table and most likely continuing to live there together is not the best option. What if there was a way to split the value though? Did you know that you could turn your house into a cash-flowing asset and then split that monthly cash flow? It is possible to get monthly payments from your house and that number can easily be divided such as liquid assets – this is a great way to sell your property while divorcing in Willingboro
Since cutting the house down the middle isn’t an option, should one party get it or the other? And maybe in some divorces, one party might be invited to take the house only if they can pay for it (which is a massive expense at a time that people rarely want to incur such expenses). Even if one of the parties gets the house it can be costly to pay for a house that used to have 2 salaries when there is only 1 salary now. Sometimes it is better to move on rather than to put yourself in a potentially difficult financial situation. We have seen times before where people try to manage the payments on just 1 salary, but without any wiggle room for any unexpected costs, this can be a dangerous plan. It may be a better option to sell your house during the divorce instead.
Here’s How To Split The Real Estate Asset
The best way to split the real estate asset is to sell it:
The property itself might have some expenses incurred during the sales process, or there might be outstanding bills, or there might still be a partial outstanding mortgage on the property. So the two divorcing parties should probably just sell the property and direct their attorneys to apply the money earned from the equity to any outstanding debts. When selling your house during divorce in Willingboro, it is important to account for the costs associated with selling the house and determine what strategy makes the most sense.
Things to consider when selling your house during divorce in Willingboro
- How much equity is in the house? Will you have to bring money to the table if you use a realtor?
- What kind of repairs are needed?
- Do you need to sell quickly to complete the divorce?
- Are there tenants?
- How will proceeds be handled?
After you answer the above questions, you’ll have a better idea of which strategy you would like to pursue to sell your house while divorcing in Willingboro. You have a few options to do this:
- List the property with a realtor: This is the most traditional way and will get your house the most exposure as your house will be listed on the MLS. The downside is that it costs money so make sure you have enough equity.
- FSBO: Sell the property yourself – this may be too much to handle while divorcing, but if your schedule accommodates phone calls and showings then this is a great way to save yourself a lot of money. Be prepared for the property to be on the market for longer than if you used a realtor.
- Simple Sale: When you choose the simple sale with us here at Mike Buys Houses. We will take care of everything. You are able to sell your house while divorcing in Willingboro As-Is, and EASY. We are able to provide you with all of your options and you can choose which plan works best for you.
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But this begs the question — how do you sell the property? Listing it with an agent can take time and costs money – it may be the right option for you, but why not reach out and find out via a no hassle, no pressure call. Reach out at 267-984-4765.
The Fastest Way To Sell A Divorce House
When it comes time to sell, most people think of selling through a real estate agent. Unfortunately, there are a few problems with this:
- the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that? This is often a point that leads to more fighting in a time where that is what everyone is hoping to avoid. It may be easier to sell the house As-is rather than deal with these issues.
- the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long? It can be a hassle to continue to have to work together to sell this asset – is the extra headache worth the potential small difference in profit? If both parties have different goals as far as the timeline then this may make this waiting period even more difficult.
- the agent will then involve both parties in the negotiation with the buyer and there is A LOT of paperwork to shuffle back and forth – it can be a drawn-out process.
This is a costly and time-consuming way to sell, and it can actually make the divorce more difficult.
Fortunately, there’s another way to sell and that’s to sell your house to a real estate buying firm (which is what we do here at Mike Buys Houses). We will buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean up or fix up the property and the sale can be completed in days, not months, with very little paperwork. It is the easiest way for you to quickly and conveniently sell your property.
If you’re going through a divorce and want to just be done with it and move on with your life, just reach out to us and tell us about the house you want to sell. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.