Navigating a challenging divorce and figuring out what to do about an unwanted real estate? Delve into this blog post for valuable insights. We’re here to offer our top suggestions on successfully selling your house amidst divorce proceedings in Belton, Texas.
Coping with divorce is undoubtedly a challenging and emotional journey. If you find yourself in the common scenario of jointly owning a house while going through a divorce in Belton, Texas, determining the best course of action for selling your property can add to the complexity. This post aims to provide you with optimal strategies and thoughtful ideas to guide you through the real estate aspect of your divorce with care and efficiency.
Houses In Divorce Can Be Complicated
In the process of a divorce, the goal is often to equitably divide assets between the two parties. While some assets, like cash, are easily divisible, dealing with others, such as real estate, poses a greater challenge. Unlike liquid assets, a house cannot be neatly divided in half. Given that its value is derived from its entirety, and being a physical structure situated on a specific piece of land, the division becomes a more complex task.
Given that physically dividing the house is not feasible, the question arises: which party should take ownership? In certain divorce scenarios, one party might be offered the option to retain the house, provided they can financially manage this significant expense. However, this proposition can be burdensome, especially considering that divorcing individuals are generally hesitant to incur additional costs during such a challenging time.
Here’s How To Split The Real Estate Asset
The best way to split the real estate asset is to sell it:
The property in question may involve expenses related to the sales process, outstanding bills, or even a remaining partial mortgage. In light of these considerations, it is advisable for the divorcing parties to opt for selling the property. The proceeds from the sale can then be directed by their respective attorneys to settle any outstanding debts.
The remaining sum can be divided between the two parties, with each individual receiving a predetermined percentage, as mutually agreed upon—perhaps in the form of an equal split, such as 50/50.
But this begs the question — how do you sell the property?
The Fastest Way To Sell A Divorce House
When the time comes to sell, the common approach is to engage a real estate agent. Regrettably, there are a few issues associated with this method:
- 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 negotiation with the buyer and there is A LOT of paperwork to shuffle back and forth
This approach is not only expensive and time-consuming but can also exacerbate the challenges of the divorce proceedings.
Fortunately, there exists an alternative method, and that involves selling your house to a real estate investor—precisely what we specialize in here at LJE Property Solutions. These investors can swiftly purchase your property for cash, in its current condition (and as an added benefit, without any commissions or fees). There’s no need to undertake cleanup or repairs, and the sale can be finalized within days, not months, with minimal paperwork involved.
If you’re in the midst of a divorce and eager to swiftly conclude this chapter and move forward, simply get in touch with us. Share details about the house you wish to sell. We specialize in purchasing houses in divorce situations and can assist you in expediting the process by acquiring your property.