There is no subtle way to put it- divorces are simply awful. With so many emotions blowing out of proportion, couples may find themselves disagreeing over everything. Ideally, the best course of action will be to work it out, but it is advisable to be as level headed as possible during this time.
Over 50% of American weddings end up in divorces, so it comes as no surprise that many Central Arkansas residents are looking for advice on selling their homes during a divorce. There is NO CONCISE COURSE OF ACTION that can be implemented in every situation, but this article will try to provide the best possible guidelines to successfully surpass this hurdle.
What To Consider
There are several factors to consider when facing a divorce in a real estate market that has yet to rebound from the housing bubble burst, one of the key items for consideration being the fact that a home is one of the most valuable joint assets, and obviously cannot be divided without first liquidating. Bearing this in mind, here are a few noteworthy considerations.
Decide If (and When) To Sell
The most influential factor when considering selling your house during a divorce is the kids. They should not have to bear the physical burden of this disagreement, as the emotional part may be already too much for them to handle. It is therefore adviced that one partner keeps the home and buys out the other’s shares. Equally, agreements could be made where one partner uses the house for a set period of time (usually the partner who has custody over the kids), and then sells it at a predetermined date (usually when the kids come of age).
Get Professional Help
Selling your house can be quite difficult under normal circumstances, so it is expected to be even more so during times as trying as a divorce. There are a lot of things to consider during a divorce, and arguments frequently break out over the most trivial of issues. Agreeing on a price may be impossible between the couple, so it is recommended to hire professional help such as real estate agents or investors. This presents both parties with a neutral and rational opinion as well as a fair price for their property.
Set an Achievable Timeline
Set a timeline within which you intend to sell your property and stick to it! You may want to consider putting everything into writing to ensure that either partner doesn’t take advantage of the situation to get away with foul play. Put up your house for sale in advance and determine the closing and moving dates as well as the time. Deciding on which spouse should be responsible for negotiations can also facilitate this process.
Sell Your House For Cash
If there is a method of liquidating property that suits divorce circumstances best, then it would be selling the property at a fair price for cash. Real estate investors such as “Paranova Property Buyers” in the Central Arkansas area can purchase your property for a fair price and close the deal in as little as 7 days. This ensures that the spouses are not in each other’s way for any longer than they need to be, and certainly make selling the property easier than their breakup.
Give us a call today at (501) 314-8710 for the best solutions for selling your home in Central Arkansas.