Your home is one of your largest joint assets with your partner. And, during the circumstance of a divorce, you are probably wondering how you’re going to divide everything fairly in a way that works for both parties. It’s already a difficult and stressful time, so you don’t need anything else to worry about—but unfortunately, selling your home is something that you might need to consider doing, especially if you are struggling to reach an agreement about who should keep the house.
So, is it OK to sell a home during a divorce? We’ll tell you what you need to know in order to make this decision.
First, figure out who will be responsible during the selling process.
Talk it through with your spouse and decide which one of you will be responsible for handling the sale and talking to the real estate agent or other professionals. Depending on your circumstances, you might decide that you can both be a point of contact, or you might decide to put all the responsibility on one or the other partner. Whatever you agree on, be sure to put it in writing. You can also negotiate penalties for breaching the agreement. This ensures there are no surprises or snags during the home sale.
Next, set a timeline for when you need to sell.
For the entire divorce process to go smoothly, you need to put your home up for sale as soon as possible and have a goal for when you will close and move. This ensures that you can liquidate the asset and divide up the proceeds during the divorce. If you are selling the traditional way (through a real estate agent) it’s impossible to know for sure when the home will sell. It all depends on the number of interested buyers and how quickly the proceedings can take place. If the timeline is particularly tight, you’ll need to consider an option like MarketPro Homebuyers, which allows you to choose the exact closing date you want.
Then, consider working with a neutral third party.
There’s nothing simple or easy about a divorce, but when you have a real estate professional acting as a neutral third party between you and your spouse, things will go much more smoothly. No matter how well you and your spouse may get along, a professional is definitely worth it. This can mean hiring a real estate agent—one who has dealt with divorces before is preferable. Or, if you want to make a quick sale with no uncertainty and no surprises, you can work with a cash home buyer.
Many people are unsure about using a cash home buyer because it’s not the most common option for selling a home. However, it is an ideal choice when going through a divorce. It’s important to choose a company that is reputable, experienced, and trusted in your local area. They will do everything they can to ensure a fair all-cash price that lets you walk away from the sale with no uncertainty and no added stress.
If you want to discuss your situation with a qualified real estate professional who is dedicated to helping people sell their homes quickly and fairly, get in touch with MarketPro Homebuyers today.