Selling Your House Before Divorce

Selling Your House Before Divorce

When it comes to a divorce, it is most likely that your house is your greatest asset. Most people facing a divorce often try to decide if they should sell before or after. Selling a house is already a stressful experience so when combined with divorce, you better have a good meditation regimen. Or, you can sell the house before the divorce which allows you to handle the situation quickly without all the hassles of a traditional sale.

Where to Start

Most people do not realize it but you can sell your house before finalizing a divorce. It is not always possible for one spouse to be able to buy the other out and what if neither of you really want the house. If you sell before the divorce, the house can sell quickly and for cash. Handling this mater before court makes negotiations easier and there is no bitterness during the proceedings. Additional, you both get money from the sale that you can use to help you start over.

No Division of Home’s Assets

When you sell a house after a divorce, there is likely to be a battle. You will have to negotiate terms for a piece of the final sale price. However, when you sell before the divorce both parties get a specified amount of money split between you. You each get half of the sale price, cash in hand. Handling it this way avoids a nasty fight over the property. When you decide to sell after divorcing or during, the house’s asset value is determined by the judge or lawyers. Neither party ends up with any control over how much money will be received.

Your New Life

Apart from financial benefits, there are emotional benefits to selling before a divorce too. Once the issue is resolved and the divorce is final, you are free and clear to move on with your new life. The best part is that you get to start this new life with a financial advantage. The marital home is generally the largest asset and generally causes the most arguments. By settling it before the proceedings, you get peace of mind and the ties to your previous life are cut as soon as the papers are signed.

What You Need to Do

First, you want to choose who is going to help you with the sale. Most people are tempted to go with a realtor but remember that they do charge fees and can take a percentage of the sale. Real estate investors do not charge fees or take a cut and in most cases you will get the house sold quickly for cash when you choose this option.

The next step is to decide upon a price. Hopefully, you are both able to agree upon a sales price. If not, the best advice is to listen to your real estate investor. The property value they determine will put an end to all disagreements and will usually be fair market value. You can’t ask for more than that.

Finally, you need to divide the money. After the price is agreed, you and your ex-spouse split the money evenly, walking away with cash in pockets. Usually the agreed upon price will be evenly split between both parties, unless some other split was agreed upon prior to the sale.

When you decide to sell before a divorce, you definitely will preserve sanity as well as the best price for your home. Divorces and house selling are both stressful events, so tackling them at the same time will be enough to destroy anyone. Neither of you need the additional arguments and court fights. Do both of yourselves a favor and sell before finalizing the divorce; you both keep your minds, your dignity and the added bonus of some cash for your new adventure. Keep it simple and keep it clean, and selling your home will be easier than you expect.

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