“So you need to know how to sell a house during divorce? Although newlyweds may find it unfathomable, divorce is a distressingly common outcome, with the American Psychological Association estimating that 40-50% of first marriages in the United States end in divorce.”
When a marriage dissolves, the division of shared assets, such as real estate, becomes a complex issue. Is a 50/50 split of all marital property the standard, or are there other factors that come into play?
Can You Divorce Without Selling the House?
“During a divorce, you have the option to keep the house or sell it and split the proceeds 50/50.”
To determine the best approach, you should first inform your lawyers and the court of the date you acquired the house.
This information will help them decide whether the house should be sold and the assets divided equitably, or if the house is considered separate property and not subject to division.
In both community and equitable distribution states, the Court may deem certain property as “separate” – meaning it was purchased before the marriage, gifted or inherited to you individually, or bought with your separate assets.
If the property is classified as separate, your spouse generally has no rights to it. However, there may be exceptions, such as if the property was improved in a way that increased its overall value.
To determine if a property is considered separate or a marital asset, it’s best to CONSULT A LAWYER.
Get An Offer Today, Sell In A Matter Of Days
A court will look at several factors to decide who gets the house, including:
The value of the property.
The financial circumstances of each partner.
The employability of each partner.
Both physical and monetary contributions to the marital home.
The age and physical and mental health of each partner.
The amount of time each partner will have custody of the children.
Who Gets The House in A Divorce?
“During a divorce, state laws governing asset division play a significant role in how marital property is divided.”
When you sell a house during divorce in most states, they follow the principle of equitable distribution, where a judge divides the property in a way they deem fair, rather than necessarily equal.
This can be based on various factors, such as each spouse’s financial and non-financial contributions to the household, including child-rearing responsibilities.
Nine states have community property laws: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
Additionally, Alaska has community property laws, but only if couples opt into this system. In community property states, marital assets acquired during the marriage are typically divided equally between spouses, with a few exceptions.
There are a few options both you and your partner and/or the Courts might choose when it comes to selling (or not selling) your marital home. These include:
One of the spouses buys out the other legal interest and keeps the home
“In community property states, married homeowners must typically divide all assets equally upon divorce.”
However, it is possible to retain ownership of the marital home.
By negotiating with your spouse in court, you may be able to buy out their share of the home’s equity.
To do so, you would need to become the sole titleholder within the timeframe specified by the court’s divorce decree
One spouse keeps use and occupancy of the home for a specified period; typically when the youngest child turns eighteen, then the house can be sold.
“In many states, a custodial parent may be granted exclusive use of the family home until the youngest child turns 18.”
The court has discretion to determine whether the custodial parent must continue making mortgage, utility, and insurance payments during this period.
The house remains the property of both spouses until all children reach adulthood, at which point the home must be sold, and the assets equitably divided between the spouses.
Co-own the home
“Divorce doesn’t have to be an emotional and financial battleground.
Co-owning a property may be the best solution for the family’s well-being, whether the couple stays together or separates.
If you have children and want to keep them in the same home, you could both remain on the mortgage to minimize disruption.
For example, a wife and husband with three children, where the husband is the sole income provider and the wife is the primary caregiver.
Due to her homemaker status, the wife may lack the funds, job history, or ability to buy out her husband’s share of the property.
While this arrangement may provide stability for the family, it hinges on the departing spouse trusting that their former partner can make timely payments. Failure to do so could damage the credit records of both individuals.
The house is sold immediately and any equity is split up
“Selling the house can be a straightforward solution.”
Once the property is listed at an agreed-upon price, the assets are typically split evenly or as the court directs.
However, this may not work if the local housing market is slow, the home needs repairs, or there are title issues. In those cases, a direct sale to a homebuyer or investor could provide a faster and easier resolution.
Selling Your House During A Divorce?
Contact Us For Your Cash Offer Today!
Steps to Sell a House During Divorce
1. Hire A Divorce Specialist Real Estate Agent
“As you prepare to list your home during a divorce, your first priority should be determining the distribution of assets, either through legal counsel or the courts.”
Divorce is an inherently turbulent and emotional experience for both parties. It’s best to rely on real estate professionals who have specific expertise in navigating property sales amidst a divorce to guide you through this process.
2. Agree On Home Sale Specifics
“You and your partner face a critical decision – pursue a quick sale to divide the assets and move on, or invest more time renovating the property to maximize its market value.”
Failing to reach an agreement through your lawyers may require the court to intervene.
To protect your interests, reach a clear, written agreement with your partner before investing in any repairs or upgrades.
Specify how you will split the expenses and how the investment will impact your final profit distribution.
Consult a lawyer to finalize these terms before spending any more money, ensuring you’re both legally protected when the deal closes.
The financial aspects of selling a home are just the initial consideration. There are numerous practical factors to address as well.
Key questions to resolve upfront include:
How will the house be handled during the listing process?
Whose real estate agent will you use?
What should the asking price be?
Will the home remain occupied or vacant until it sells?
Who is responsible for the mortgage, bills, and preparing the home for showings?
To avoid delays and excessive legal fees, it’s best to have your lawyers work out these operational details before the sale process begins.
Addressing these practical matters proactively can help ensure the home sale proceeds smoothly and the profits are not eroded by unforeseen legal costs.
3. Know What to Expect in Order to Close the Sale
“After listing your home, you and your ex-partner will need to work together objectively to review offers from potential buyers.”
This may require setting aside emotions to make the best decision.
If you receive only one or two offers, the choice may be straightforward.
However, in a competitive housing market with multiple offers, you and your lawyers/agents will likely have to negotiate back-and-forth to determine the right offer for your situation.
To make this process smoother, try to agree on a strategy upfront – whether to accept the first viable offer or hold out for the most profitable sale. Ultimately, you must come to a joint decision before finalizing the sale.
4. Divide the Proceeds
“The sale of your home is the final and hopefully simplest step in your divorce process.”
Assuming you worked with the courts or your lawyers to settle the division of assets, you should already be aware of how the proceeds from the home sale will be distributed.
Any outstanding liens or financial obligations on the property will be paid off by the escrow company before the remaining funds are dispersed, allowing you to move forward with your life.
OR
5. Sell Your House AS-IS to A Cash Buyer
“If you and your ex-partner are unable or unwilling to communicate, and you’re eager to move on from your marriage, the stress of divorce may be taking a toll.”
In this situation, a quick and simple sale of your shared property to a direct cash home buyer or investor could be the best solution for everyone involved. This may be the easiest way to sell a house during divorce.
Cash-paying investors and direct home buyers are attractive options for property owners, regardless of the condition of the home or the owners’ financial or marital status.
These buyers specialize in fast closings, allowing owners to offload properties more quickly than through a traditional home sale.
They purchase houses “as-is,” meaning they will pay cash even if the home requires upgrades or major repairs.
This can be an ideal solution for spouses going through a painful and expensive divorce, as it enables them to sell the house for a fair cash price and close the deal swiftly, without having to negotiate terms through lawyers and a shared real estate agent.
Selling Your House During A Divorce? Contact Us For Your Cash Offer Today!
“Jeff Buys Houses Cash is a local cash home buyer that purchases properties in any condition, regardless of the homeowner’s financial circumstances.”
We provide competitive, hassle-free cash offers, eliminating the need to work with real estate agents, lawyers, and third parties.
If a direct home sale appeals to you, we invite you to call us day or night at (856) 281-1157 to discuss your options. Jeff Buys Houses Cash is known for facilitating home sales with minimal stress and reduced fees.
Selling a home during a divorce can be stressful, but we offer a hassle-free solution.
Contact us today, and we’ll provide a competitive cash offer for your house or rental property – no matter the condition.
Even if the home has been neglected for years or suffered storm damage, our expert team will handle all necessary repairs and upgrades after you accept our fair offer.
We buy homes in any financial situation, making the selling process as easy as possible during this difficult time.
Divorce and Selling a House: How “Jeff Buys Houses Cash” Can Help
“Going through a divorce can be a stressful and emotional experience, and selling a shared home can add to the complexity.”
At “Jeff Buys Houses Cash,” we understand the challenges that come with selling a house during a divorce.
Our approach is simple: we don’t try to make a deal, we try to help people. Our goal is to provide a straightforward and hassle-free solution to help you move forward.
Why Choose “Jeff Buys Houses Cash”?
We are a reputable “we buy houses company” with a proven track record of helping homeowners in difficult situations. Here are some reasons why you can trust us:
- Fast and Fair Offers: We provide quick and fair cash offers, usually within 24 hours of contacting us. Our offers are based on the current market value of your property, ensuring you receive a fair price.
- No Real Estate Agents: We eliminate the need for real estate agents, saving you time and money on commissions. Our direct approach means you don’t have to worry about agent fees or lengthy marketing periods.
- No Repairs or Renovations: We buy houses as-is, so you don’t have to worry about costly repairs or renovations. This saves you time, money, and stress, allowing you to focus on your future.
- Flexible Closing: We can close the sale on your timeline, whether it’s quickly or on a delayed schedule. Our flexibility ensures you can move forward at your own pace.
How We Can Help in a Divorce Situation
Selling a house during a divorce can be a contentious issue. Here’s how we can help:
- Neutral Third Party: “We act as a neutral third party,” taking the emotional aspect out of the sale. Our involvement can help reduce tensions and conflicts between parties.
- Quick Resolution: Our fast cash offers and quick closing process can help resolve the sale of the house quickly, allowing you to move forward. This can be especially helpful in situations where both parties want to move on with their lives.
- No Disputes: Our as-is purchase eliminates disputes over repairs or renovations. This can be a significant advantage in divorce situations, where disagreements can arise easily.
- Equal Distribution: Our cash offer can be split equally between both parties, ensuring a fair distribution of assets. This can help simplify the divorce process and reduce conflicts.
- Reduced Stress: We handle the entire process, reducing the stress and burden on both parties. Our experienced team will guide you through every step, ensuring a smooth transaction.
The Benefits of Selling to “Jeff Buys Houses Cash”
Selling your house to us can have numerous benefits, especially in a divorce situation:
- Avoid Costly Repairs: We buy houses as-is, saving you money on repairs and renovations.
- Save Time: Our quick closing process means you can move forward with your life sooner.
- Reduce Stress: Our neutral third-party involvement can reduce tensions and conflicts.
- Fair Distribution: Our cash offer ensures a fair distribution of assets.
The Process
Our process is simple and straightforward:
- Contact Us: Reach out to us through our website or phone number. Our friendly team will guide you through the process.
- Provide Information: Share some basic information about the house and your situation. This helps us understand your needs and provide a fair offer.
- Receive an Offer: We’ll provide a fast and fair cash offer, usually within 24 hours. Our offer is based on the current market value of your property.
- Accept the Offer: If you accept, we’ll handle the paperwork and closing process. Our experienced team will guide you through every step.
- Get Paid: Receive the cash payment, and move forward with your life.
What to Expect
When working with “Jeff Buys Houses Cash,” you can expect:
- Professionalism: Our team is experienced and knowledgeable, ensuring a smooth transaction.
- Transparency: We’ll keep you informed throughout the process, ensuring you understand every step.
- Respect: We understand the emotional aspect of selling a house during a divorce. Our team will treat you with respect and empathy.
Testimonials
Don’t just take our word for it. Here’s what some of our satisfied clients have said:
“Jeff Buys Houses Cash helped us sell our house quickly and stress-free. Their team was professional and respectful, making a difficult situation much easier.” – Rachel and Mike
“We were hesitant to sell our house to a ‘we buy houses’ company, but Jeff Buys Houses Cash exceeded our expectations. Their offer was fair, and the process was smooth.” – David and Emily
Conclusion
Selling a house during a divorce can be a challenging experience, but “Jeff Buys Houses Cash” is here to help. Our reputable and trustworthy approach can provide a stress-free solution, allowing you to move forward.