Hey guys, this is Mike from Mike Buys Houses. We’re going to be discussing how to best handle your property when going through a divorce, seeing as though I just got done speaking to homeowners in Willingboro, New Jersey who happened to be going through a divorce and had some specific questions. Therefore, even though it is an unfortunate thing to discuss, I thought I would take a little bit of time to go through what options you have when trying to sell your home during a divorce.
How to Sell a Home During Divorce
As with most discussions around selling a property, the homeowners are going to have a number of options available to them, but they are likely going to be the options you have heard me speak on before. In essence, your options are:
- List with a Realtor
- Sell for Cash
- Sell via Terms
Selling a Home with a Realtor During Divorce
The first option is the most common, which is to list the property with a realtor. It’s so common due to the fact that everyone is mostly familiar with how realtors work, how much they cost, and general needs from the property to list with an agent. However, remember that this is generally a very stressful time, so sometimes using the realtor who helped you buy the house or someone who is going to take a large commission or require a lot of updates to the house might not be the best way to proceed in your specific situation.
If the timing of the sale doesn’t work for your divorce, the fees are too high, or the house is not in good condition, you might need to look into other options.
Selling to Investors During Divorce
The easiest option for you might be to sell your property for cash to an investor like myself. We pay cash, close quickly, and we buy as-is.
Now, there will be a slight discount on the total revenue you will collect on the property when selling for cash, but generally speaking, this will move the property the quickest for you.
Finally, you can sell the property via terms, which is what we specialize in, and so when you sell the property, you will convert the home into a cash flowing asset that you own. This would allow you to operate in cash, making any bifurcation of funds very simple and straightforward. Therefore, it is easy to split proceeds with your ex. Also, you will normally sell the property for over your asking price, so you will net more cash for the property. All while the house is still sold as-is and can be closed within a very short time period.
If that’s something that sounds appealing to you or if that is something that you think would help someone you know, then please give us a call at 267-984-4765 or fill out the form below and we’ll reach out to you!
We look forward to helping you!