Millions of people that own a house go thru divorce every year. If you’re going through a divorce and trying to figure out what to do about your unwanted house, then keep reading this blog where we give you a few of our best suggestions about selling your house while divorcing in Fort Worth…
A divorce can be both challenging and very emotional. Yet, in the midst of this difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house while divorcing in Fort Worth. Here are a few of our best strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible during this stressful time.
Houses In A Divorce Can Be Complicated
During a divorce, the two parties seek to split their assets in some fashion i.e. 50/50 or 25/75 etc.. For some assets that are liquid (such as money), it’s very easy to do. For other assets, including real estate, it’s much harder to do because, how do you split a house in half? It’s one asset that derives it’s value from being whole, and it’s usually a structure built on a plot of land, so it’s not going anywhere.
Since cutting the house down the middle not being an option, should one party get the house or the other? Another option in some divorces, one person might be awarded to take the house if they can pay for it (which is a massive expense that people rarely want to incur such expenses).
Here’s How To Split Your Real Estate Asset
The best way to split the real estate asset is to sell it:
The house itself might have some expenses incurred during the sales process, or there might be outstanding bills, or there might still be a partial outstanding mortgage. So the two divorcing parties should probably just sell the house and direct their attorneys to apply the money earned from the equity to any outstanding debts.
The remaining amount can then be split between the parties, with each party getting an agreed-upon percentage (such as 50/50).
But this begs the question — how do you sell the house?
The Fastest Way To Sell Your House During Divorce
When it comes time to sell, most people think of selling a house through a real estate agent. Unfortunately there’s a few problems with this:
- the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
- the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
- the agent will then involve both parties in the negotiations with the buyer and there is A LOT of paperwork to shuffle back and forth
- if one spouse is uncooperative with making the home available for showings or coming to an agreeable sales price, this can delay the sale of the home and drag out the process or even prevent the home from selling
This is a costly and time-consuming way to sell your house in Fort Worth, and it can actually make the divorce proceedings so much worse and stressful.
Fortunately, there’s another way to sell and that’s to sell your house to a local real estate buying firm (which is what we do here at Tim The House Buyer). The real estate buying firm will buy your house quickly in Fort Worth, for cash, in as-is condition (and as a bonus, you never any commissions or closing costs). You don’t have to clean up or fix up the property and the sale can be completed within days, not months, with very little paperwork, minimizing the stress of selling a house.
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 houses fast in Fort Worth and the surrounding areas regardless of size, price or condition and we can help you expedite your divorce by buying this house from you.
Click here to enter your information to get started (with no obligation) or call our office at (817) 550-5069 Opt# 5 to tell us about your property
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