If you’re going through a difficult divorce and wondering what to do with your unwanted real estate, keep reading this blog post for our best tips on selling your house while divorcing in Fort Worth.
Divorce can be difficult and emotional. However, in the midst of a difficult situation, you may be like other divorcing couples who own a house and are attempting to figure out how to sell their house while divorcing in Fort Worth. Here are some of our best tips and ideas for getting through the part of your divorce that involves real estate as carefully and quickly as possible.
Houses in Divorce Can Be Difficult.
During a divorce, the two parties attempt to divide their assets evenly. It is very simple for some liquid assets (such as money). Other assets, such as real estate, are much more difficult to divide because how do you divide a house in half? It’s one asset whose value is derived from its completeness, and it’s usually a structure built on a plot of land, so it’s not going anywhere.
Given that dividing the house in half isn’t an option, should one party get it or the other? In some divorces, one party may be invited to take possession of the house only if they can pay for it (which is a massive expense at a time when people rarely want to incur such expenses).
Here’s How to Divide Your Real Estate Assets
Selling the real estate asset is the best way to divide it.
The property itself may have some expenses incurred during the sales process, there may be outstanding bills, or the property may still have a partial outstanding mortgage. So, the people getting divorced should probably just sell the property and tell their lawyers to pay off any debts with the money.
The remaining money can then be split between the parties in a way that everyone agrees to (for example, 50/50).
But this raises the question of how to sell the property.
The Most Efficient Way To Sell A Divorce House
When it comes time to sell, most people consider using a real estate agent. Unfortunately, there are a few issues with this:
The agent will require the owners to pay out of pocket to repair the property first—but who pays for that?
The house will then be listed by the agent, which can take 3-6 months (sometimes longer) to sell—can either party wait that long?
The agent will then involve both parties in the buyer’s negotiation, and there will be a LOT of paperwork to shuffle back and forth.
This way of selling is expensive, takes a long time, and can make the divorce process worse.
Fortunately, another option is selling your home to a real estate buying firm (which is what we do here at Texas Best Home Buyers). The real estate buying company will buy your house quickly, for cash, and in its current condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean or repair the property, and the sale can be completed in days rather than months, with minimal paperwork.
If you’re going through a divorce and want just to be done with it and move on with your life, just reach out to us and tell us about the house you want to sell, and let our team help you out with all your real estate problems.
Give us a call anytime at 817-382-3579 or visit us at www.jzhomebuyers.com. We can’t wait to help and serve you!