We’ve given our best tips on selling your house while divorcing in Savannah in this blog post. If you’re going through a difficult divorce and trying to determine what to do about your unwanted real estate.
Divorce is a challenging and emotional process. Yet, in the midst of the difficult situation, you might be like other divorcing couples who own a house. In Savannah, you might be trying to figure out how to deal with selling your house during a divorce. Here are our best strategies and ideas for navigating the real estate portion of your divorce with care and efficiency.
Houses In Divorce Can Be Complicated
During a divorce, both parties try to divide their assets equally. Some assets (such as money) are liquid and can be easily moved. The division of other assets, like real estate, is much more difficult, since how do you divide a house in half? The value of an asset lies in the fact that it’s complete, and it usually consists of a building on a plot of land, so it’s not going anywhere.
Given that cutting the house down the middle is not an option, should either party be able to get it? It is possible that one party in a divorce may be allowed to take the house only if they are able to pay for it (which is a huge expense that people rarely want to incur).
Here’s How To Split The Real Estate Asset
The most effective way to divide real estate assets is to sell them:
During the sales process, there may have been some expenses incurred, there may be unpaid bills, or there may still be a partial mortgage on the property. In this case, the divorcing parties should probably sell the property and direct their attorneys to apply the proceeds to any outstanding debts.
The remaining amount can then be split between each party, with each receiving a predetermined percentage (such as 50/50).
However, this raises the question of how can the property be sold?
The Fastest Way To Sell A Divorce House
When it’s time to sell, many people go through a real estate agent. Unfortunately, there are a few problems with this:
- It is the agents responsibility to make sure the property is fixed up before selling it — but who will cover those costs?
- After listing the house, the seller may have to wait 3-6 months (sometimes longer) until the house is sold – can either party wait that long?
- Once the agent has negotiated with the buyer, and both parties involved, and there is A LOT of paperwork to shuffle back and forth
Selling through this method is both time-consuming and costly, and it can actually aggravate the divorce process.
Fortunately, there is an alternative way to sell, which is to sell your house to a real estate buying company (which is what we do at 32Homes LLC). Real estate buying firms buy your home quickly, for cash, in as-is condition (and they never charge commissions or fees). With very little paperwork, the sale can be completed in days, instead of months, and you won’t have to clean up or fix up your house.
You can reach out to us and tell us about the house you want to sell if you’re going through a divorce and want to move on. With our expertise in buying divorce houses, we can expedite your divorce by helping you sell this house.