When a couple goes through the divorce process, one of the major issues they’ll come across is deciding the ownership of their shared home or other properties. While sometimes one spouse chooses to buy the other out or to leave the house solely to them, often it is decided that the best route is selling a home during divorce and dividing the profit.
Why Do Some Couples Decide to Sell During the Divorce Process?
While this may sound like adding an additional burden to the divorce process, there are some considerable benefits to selling a home during divorce. Firstly, it can provide legal and emotional closure to sell the marital home and get rid of a shared investment that carries a lot of memories within it – a clean slate. Secondly, it provides both individuals with a financial foundation on which to start their independent lives. It also might not be financially possible for one or either people to afford the house by themselves. Finally, selling a house during divorce gives both individuals a means to cover their legal and financial responsibilities, including any debts.
Divorce and Selling a House – What are Your Options?
As your property is a shared asset, both parties will have to agree on the best way to sell the home. These options are the same for any other sale of a property, and include:
- Selling through a realtor: Using a realtor or estate agent is a popular way to sell your home. They will take care of everything from advertising your home and bringing prospective buyers to view it, to handling the sale negotiations and process. However, this comes at a pretty steep price. Realtor fees in Texas are high, averaging around 6%. This means that $12,000 of a $200,000 sale goes into your agent’s pocket. While the convenience factor here is attractive, the other two options ensure that you get more out of your asset.
- Selling your own home: Many people choose to sell their own home to save on commission. Any advertising costs you carry yourself – but you’re also responsible for photographing and listing your property, taking viewings and hosting open house days, and managing your side of the negotiations and sales process yourself. While this may suit some people and the savings are great, the chances are that you aren’t looking to take on an intensive and demanding process while going through a divorce. That brings us to the third option.
- Sell your home to a reputable cash for houses business: These are companies that offer great value for money with minimal work on the side of the seller. They’ll buy your property from you (so there’s no waiting for a buyer to come along), they don’t mind what condition it’s in (so you save on repairs and repainting), and they pay out quickly on offers (so there’s no waiting on mortgage approvals or property sales, etc.). This offers one of the best options for selling a home during divorce, as it means the least hassle for sellers and the fastest financial result.
Being Emotionally and Legally Prepared to Sell Your Marital Home
Going through a divorce is a difficult and emotionally taxing process and selling your home can add to the trauma – even when it is agreed upon as the best choice for both parties. It is important that each person take the time to evaluate their options and not to make any snap decisions. Once the decision is made, be sure to partner with the right legal and real estate specialists to ensure that you get the best support, advice and financial result that you deserve.
Selling a Home During Divorce? Don’t Pay Flat Fee Real Estate Commission or Realtor Fees in Texas – Speak to Our Team for the Easiest Way to Sell a Home During Divorce
At Shiny Key Properties, we pride ourselves on offering fast, effective service to all of our clients. As a cash for homes business serving the Dallas and Fort Worth areas, we’re here to help you sell your home quickly and get the best value for your asset. Our prices are carefully calculated to give you the best offer and you save even further as we don’t charge realtor fees or flat fee commission – in fact, there is no commission charged of any kind.
Our team is compassionate, professional and dedicated to giving you the best possible client service and the best price for your home. To find out more about our cash for houses service and to sell your home quickly, contact us today and speak to one of our friendly team members. Click here to get a free home value report.