If you’re going through a difficult divorce and trying to figure out what to do about your unwanted real estate, here are a few suggestions about selling your house while divorcing in Dallas / Fort Worth…
Divorce can be challenging and very emotional on so many levels. Yet, in the midst of the difficult situation, you probably have a house or property that you own together and now you’re trying to learn more about selling your house while divorcing in Dallas / Fort Worth. Here are some strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible.
Houses In Divorce Can Be Complicated
During a divorce, both parties typically seek to split their assets in half. For the liquid assets (such as money), it’s very easy to do. For other assets, including real estate, it’s much harder because how do you split a house in half? You can’t just cut it down the middle. It wouldn’t be worth anything if you did that. It’s one asset that derives its value from being whole, and it’s usually a structure built on a plot of land, so it’s not going anywhere. Now a mobile home is a different situation, but in this case we’re talking about a home that is built on land.
Since cutting the house down the middle isn’t an option, who’s supposed to get the house? And maybe in some divorces, one party might be invited to take the house only if they can pay for it (which could be a massive expense at a time when people rarely want to incur such expenses by themselves).
Here’s How To Split The Real Estate Asset
You may already know this, but the best way to split the real estate asset is to sell it.
There could be a mortgage in place on the property, or maybe there are some liens against it, perhaps you took out a second mortgage in order to pay medical bills, whatever the case may be, whatever proceeds you get from the sale of the home can go to pay those things off first, and then whatever’s left can be easily divided. If there’s other debt involved, sometimes selling the property and applying that money (the equity) towards that debt is really a smart thing to do.
Once you’re turned the property into cash, it makes it very easy to split based on the amount that’s decided in the divorce by both parties..
But this begs the question — how do you sell the property?
The Fastest Way To Sell A Divorce House
When it comes time to sell, most people think of selling through a real estate agent. But if you’re selling your house while divorcing in Dallas / Fort Worth, you need to now about workign with an agent.
Unfortunately there’s a few problems with this:
- the agent will suggest that the owners fix up the property first — which costs money and time
- 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 begin the negotiation process with the buyer, and if you’re dealing with a difficult spouse, this can certainly take some time and effort
This can be a costly and time-consuming way to sell, and it can actually make the divorce proceedings drag out.
Fortunately for you and your soon to be ex, there’s another way to sell and that’s to sell your house to a real estate buying company like us at Madison Lea Homes. We buy houses, and we buy land, so whatever kind of property you’re trying to sell during a divorce, we’d like to know more about it.
A real estate buying firm can buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean up or fix or update the property and the sale can be completed in a matter of days, not months, with very little paperwork involved.
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 property you want to sell. We specialize in buying divorce houses, and we can help expedite your divorce by buying this house from you sooner than later.