If you are faced with a lengthy and detailed process when selling your home while divorcing and you don’t want to take any more of the emotional turmoil. Then you should read this. Here are some important notes that you need to know when selling your house while divorcing in Cincinnati…
We always dreamed of getting married and having that happily ever after when we were just kids. But it never occurred to us that divorce happens. It’s not something that anyone would wish to happen. But if you are going through it already, it’s best to do some research to properly establish how to sell your house fairly and ensure that you get what you are entitled to.
Houses In Divorce Can Be Complicated
When selling your house while divorcing, the two parties seek to split their assets in half. For some assets that are liquid (such as money), it’s very easy to do. 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.
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).
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.
The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (such as 50/50).
But this begs the question — how do you sell my house? How does selling a house while divorcing work? Is it better to sell the house before or after a divorce? Can you sell your house during a divorce? How do you sell your house when you separate? These are all that you might have if you are new to this kind of situation.
The Fastest Way To Selling Your House While Divorcing
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?
- the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
- 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
This is a costly and time-consuming way to sell, and it can actually make the divorce proceedings so much worse.
Fortunately, there’s another way of selling your house while divorcing and that’s to sell your house to a real estate buying firm (which is what we do here at We Buy NKY Houses). The real estate buying firm 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.
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.
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