As a process, divorce is not something anyone would wish to go through in life. But frankly, no one can predict such an eventuality, and that’s why we all can’t stop living due to fear. In this blog post, we want to focus on what I need to know when finally deciding to sell my Houston home during divorce.
Shockingly, statistics have it that approximately 50 percent of American marriages end in divorce. And that’s why we’re no longer surprised when clients walk into our offices here in Houston, Texas for advice, or looking to sell a home during a divorce.
In any marriage, couples share almost all the assets. A house is one of these many things, and probably the most valuable joint asset. Its physical attribute makes it impossible for individuals to share without liquidation. So if both of you are to benefit financially from the sale, you got to keep a rational mind and look at the bigger picture.
The real estate market is volatile, and thus, for one to maneuver around it he or she requires intelligence. You need to take a couple of factors into account when facing divorce during these times when our economy is just recovering from the global crunch.
For starters, have a sit-down with your partner, and figure out how best to deal with the property. Should I sell my home in Houston? And if that’s an option, when exactly do I want to put my Houston house on the market?
Some couples prefer one partner buying out the departing spouse’s share because they find it too much a hassle finding a new buyer or letting go of the memories attached to the home. However, in other cases, especially in those scenarios where kids are involved, one of the partners will use the house for a specific period and only sell it once the children have attained a certain age. Either way, both of you have to be on the same page.
Employ the help of an expert in matters divorce
Selling any property is a convoluted process, and a home is no different. That and the fact that you’re going through a divorce is enough to make you break down mentally. You surely need the help of a professional when selling your home. Such assistance will help you, and your spouse to settle small issues that might arise as you try to sell because you’ll have a neutral third party.
Have a time frame
All divorcing couples usually get advised to have a timeline when selling their homes because finding a buyer is not a walk in the park at all. List the house a couple of weeks in advance, and talk about what the closing and moving date will be in the process. Come up with a contract and penalties in the event there’s a breach. Remember, our goal is to make the process as seamless as possible.
You also have a third option that involves selling the property at a fair all-cash offer. In our experience, we have observed that the best way to go about these situations is to sell quickly and be done with it. We have reputable firms out there who have dealt with these types of clients for years, and they purchase Houston houses in their current state. ‘We Buy Houses Fast Houston’ is an example of such a company, and we are ready to ease your burden.
Don’t hesitate to call us now!