Getting a divorce can often become a time-consuming and frustrating process. Especially when real estate assets need to be divided or sold.
In fact, every state has different laws regarding how real estate properties are classified during a marriage, and after a couple has filed for divorce.
Whether a property is considered “shared” or “separate,” there are additional considerations that must be taken if home repairs are completed during a divorce.
What You Need To Know Before You Begin Repairs
A spouse will often make home repairs during divorce in the hopes that he or she can sell the property more quickly and for more money.
While the latter actions might have been made with good intentions, they can actually slow down the divorce process.
More often than not, the spouse who paid for the home repairs will want to be reimbursed for their efforts.
In order to determine if the spouse should be reimbursed, the following factors will need to be considered.
- Did the spouse use community (i.e. shared) funds to make the home repairs?
- Were the home repairs made on the spouse’s “separate” property or on a “shared” property?
- Was the property classified as “separate” or “shared” before the home improvements began?
Additionally, an appraiser will need to be hired to determine if the home repairs increased or decreased the value of the home. Hiring the appraiser and waiting for the results can once again delay the divorce process.
The process can be delayed further if the home improvement project violated zoning laws, ignored homeowner association rules, or otherwise decreased the value of the property.
In short, home repairs that are made during a divorce have the potential to increase the value of a home for future resale.
However, they typically lead to a longer sale process, additional paperwork, and prolonged divorce proceedings.
The Bottom Line: Avoid The Hassle Of Home Repairs During Divorce
Similar rules apply if you are entitled to a “separate” or “community” property as part of your divorce. You might want to wait until after your divorce is finalized before you make any home repairs.
Alternatively, you can avoid the costly delays of home repairs in favor of selling your home as-is.
Eliminate inspections, repairs, staging, showings, contingencies and the all-around longer sale process when you sell your home to HomeGo.
HomeGo will typically make a same-day cash offer and can close on your home in as little as 7 days. Contact HomeGo today to sell your home quickly after a divorce.