Are you getting divorced and thinking about selling your home? We have put together the most important divorce selling house tips to help you move through this major change in your life.
Why Sell Your Home?
If you live in a community property state, chances are you are evenly splitting the value of your home, along with other major assets acquired after marriage. Most people do not have the capital to buy out the other half of the house. So, many people decide to sell their homes when getting a divorce to split the profit.
Getting a Divorce: Selling House Tips
Here are our top divorce selling house tips to help make the process easier.
Don’t Let Emotions Run Too High
Selling a home through a divorce is often a difficult process fraught with emotion. Many people purchase a home during happy times to create even more happy times in the future. Selling that same home during a divorce can feel like the end of that dream, so it’s natural to feel emotional.
As difficult as it can be, try to keep your emotions at bay. Do not allow them to prevent you from doing what is necessary: selling your home for the right price at the right time.
Don’t Rush Into Anything
When in emotional distress, people can make poor decisions. That is why not rushing is next on our list for divorce selling house tips.
Once the divorce process begins, it can feel like things are moving quickly with many overwhelming decisions to be made. Take a deep breath, and speak to your mediator or lawyer, tax professional, and financial planner before listing the property. A few phone calls can go a long way in helping you make the best financial decision for yourself.
Agree on Price
When trying to sell a house, you need to first decide on a listing price. Listing your house for the right price can help determine the true value of your assets, so it’s important to “get it right.”
Do you both agree about the worth of the house? If not, you might consider getting an appraisal to see how much the house is worth. You can refer to a real estate agent, property appraiser, or get a general idea from online estimates, like Zillow.com.
After agreeing on the listing price, the next of our divorce selling house tips is to agree on the scheduling. Are there household repairs that need to take place so you can sell? Is one or both parties still living in the home? You must agree when to list the property so that everyone is on the same page.
When selling your house through a divorce, you will likely need to hire professionals. You will need a real estate agent, and possibly a contractor or handyman, depending on the needed repairs. Just be prepared, since hiring professionals comes at a price that will eat into your profit.
Consider a Quick Sell
Sometimes during a divorce, people are ready to get their matters settled quickly and move forward. Instead of having to hassle with fixing up your home, scheduling showings, and hiring professionals, you may be interested in selling your house for cash instead. It can be a great choice for those that want to save time and hassle!
When you sell for cash, you save on repairs, agent commissions, additional mortgage payments, and more. So, your final profit can be very similar to selling on the traditional market. Here is How to Calculate if Your “Sell House for Cash” Offer is Fair.
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