Divorced & Selling a House.
When Two People’s Lives Are Now Separated and They Need To Sell a House
A divorce is often a difficult set of circumstances that then adds additional pressure when having to figure out the best solution to sell a house. A divorce often can be a huge financial burden and there could be many unanswered questions such as “How can I sell my house?”
So you both own the house but the mortgage may be in both of your names or just one person name. Perhaps the home is in need of repairs and who is responsible for making those repairs, keeping the payments in good standing, and following the divorce decree to sell it and split the profits, right! If going through a divorce wasn’t stressful enough-now you have to figure out how to sell the house or find out how you might be able to just keep it.
There are a lot of questions around a divorce sell that usually cannot be answered by a divorce attorney alone and most real estate agents will usually advice you as their client to make the repairs, list the home, and pay them 6% of the selling price in commissions. Usually one person is left with the unfortunate burden of dealing with the house that they just don’t want to deal with any longer.
During a divorce or legal separation, it’s not unusual for bills to mount up and mortgage payments to fall behind.
Working with a local real estate investor who is familiar with divorcing situations, ones that can talk with you both about who is on the title, who was awarded the house in the divorce decree, who can maybe refinance, or how to get a spouse off the title or restructure the loan to remove one spouse requires specialized knowledge.
In some cases, the house may have deferred upkeep and they may owe more than the home is currently valued, perhaps one spouse would like preserve credit profile. A highly trained real estate investor within our network would be able to buy the house quickly and help you achieve these goals even if the house is in fact upside down or have limited equity.