4 Questions You Need to Ask when Selling the House
Divorce is an unfortunate fact of life for more than 40 percent of married couples in the U.S. It’s often accompanied by a great deal of grief, stress, and anxiety. Simply figuring out what to do with a couple’s possessions can cause many sleepless nights.
A house is the most significant financial asset a married couple owns. That means it plays a large role in divorce proceedings. To help alleviate turmoil related to divorce, selling a house, and all the baggage that comes with it, we compiled the following four questions and answers.
What are my options for selling my house during a divorce?
There are several options available to divorcing homeowners:
- One party keeps the house as part of a divorce settlement
- One party keeps the house but chooses to sell it
- Both parties agree to sell the house and divide the proceeds
Plans for selling the house during a divorce can sometimes be greatly influenced by whether any young children are involved. A desire to avoid uprooting them and increasing any emotional difficulties they’re experiencing could encourage one spouse to hold on to the house.
But if there are no children involved, they’re grown, or a fresh start is required, a home sale typically takes center stage when getting divorced.
Where are the hazards when selling my house during a divorce?
When it comes to selling your home during a divorce, getting an accurate lay of the land is vital. Doing so allows you to avoid common traps.
- Affordability: Staying in the home might not make the most financial sense for you. If you had to give up a lot of your assets to keep the home, covering the mortgage, property taxes, and day-to-day upkeep could quickly lead to financial trouble. You could find yourself unable to afford the mortgage and headed towards foreclosure…fast.
- Anticipation: Outside of costs related to the house, it’s important to anticipate equally important financial obligations. These include retirement savings, insurance, a rainy-day fund, and more. It can be tough to prepare for surprise costs when you’re holding on to a house after a divorce.
- Aggravation: Selling a home the traditional way is admittedly stressful. Little wonder, what with agent negotiations, financial considerations, repairs, constant cleaning, and having strangers waltz through at all hours. Now, add the challenges of navigating a divorce. Adding heartburn to a headache would be a better time.
How long will it take to sell my house during a divorce?
The length of time required to sell your home depends on several factors, such as your urgency and market conditions. If you are eager for a sale and ready to move on — literally and figuratively — then you may decide to price it at a competitive level. The median home spends more than two months on the market, reports Realtor.com. That number can swing notably in either direction based on a variety of factors. To provide a comparison, you can sell with HomeGo in as little as one day. Find out how it works.
Who can help sell my house during a divorce?
If you’re willing to ride out a complicated and at times frustrating traditional home sale process for a few months, turn to a real estate agent. If you’re motivated to shore up your finances, sidestep complicated closings, and begin the next chapter in your life, HomeGo House Buyers can help. Our process is simple, stress-free, and as easy as 1-2-3:
- Provide your address and tell us a little about the home. Don’t worry about giving us a hard sell: we buy homes as-is!
- Schedule a quick, 10-minute walk-through of your property. We’ll come to you, often the very same day you provide your address.
- Accept our offer and consider your home sold. Move today, tomorrow, or in a few months. You decide!
No worries about last-minute repairs, showings, closing costs, etc. Walk away with cash in your pocket and leave whatever you want behind. (Including that couch you always hated.) We’ll handle the rest.
Getting through a divorce is exhausting enough. Choose carefully what gets added to your workload and what gets delegated, offloading work and stress when you can. HomeGo is here to help you sell your house in a divorce and do it all the easy way!