If you’re going through a difficult divorce and trying to figure out what to do about your house, then keep reading this blog post. We’ll give you our best suggestions about selling your house while divorcing in Murfreesboro…
Getting divorced can be challenging and emotional. Your hopes and dreams with your soon to be ex-significant other have been dashed… If you own a house together things get more complicated. At some point you will start trying to figure out how to go about selling your house while getting a divorce in Murfreesboro. Here are our best strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible.
Splitting The Assets In Divorce Can Be Complicated
During a divorce, the two parties normally try split their assets in half. For assets that are liquid (such as money), it’s very easy to do. For other assets, such as real estate, it’s much harder to do. Think about it… how do you split a house in half? It’s one asset that derives its value from being whole. You can’t very well split the structure and land that it sits on down the middle.
Since cutting the house down the middle isn’t an option, should one party get it or should the other? In some divorces, one party might be in a position to buy the other out so to speak but that’s not always the case. It’s a major expense not to mention a time drain that most people simply just don’t want to deal with at that time.
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 may or may not incur some expenses during the sales process. There might be some outstanding joint debts that need to be paid. There might still be an outstanding mortgage balance 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 sale 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 brings up the question — how do you sell the property?
The Fastest Way To Sell A House During A Divorce
When it comes time to sell the house, most people think of selling through a local real estate agent. Unfortunately there may be a few problems with this idea:
- if the house needs work (most do) the agent will suggest a home inspection followed by repairs to make the property easier to sell — but who pay and coordinate all that?
- the agent will then list the house, which means somebody has to deal with the hassle of showings and constant cleaning…
- the agent will need to involve both parties in the negotiation with the buyer whenever an offer comes along…. and there is usually a lot of paperwork that has to get shuffle back and forth…
- it will probably take 3-6 months to sell (sometimes longer) — can either party wait that long?
This is a costly and time-consuming way to sell in an already stressful situation. It can actually make the divorce proceedings more contentious than they already are..
Fortunately, there’s another way to sell your house! Sell your house to a legitimate house buying company such as Provision Homes LLC. We buy houses as-is. There are no inspections or repairs that either party has to deal with. There are no real estate commissions that need to be paid. There is no cleaning that either party has to concern themselves with. Just take whatever belongings you want to keep then leave the rest behind. We cover all the closing costs as well. We can close in a matter of days as opposed to months.. Our sales process is very simple and fast. This allows both parties to move on with their life.
If you’re going through 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.