If you find yourself in the midst of a challenging divorce and are uncertain about what to do with your unwanted real estate, continue reading for valuable insights on selling your house or mobile home during a divorce in Surprise, Phoenix, and Flagstaff or the Phoenix metro area…
Divorce is a complex and emotional process. However, if you are one of the many couples going through a divorce while owning a property, figuring out how to sell your house during this time in Surprise, Phoenix, and Flagstaff or the Phoenix metro area can be overwhelming. Discover our top recommendations and expert advice to guide you through the real estate aspect of your divorce easily and efficiently.
Houses In Divorce Can Be Complicated
During a divorce, the two parties seek to split their assets in half. For some assets are liquid (such as money), it’s very easy to do. For other assets, including real estate, it’s much harder to do because how do you split a house in half? It’s one asset that derives its value from being whole. And if it’s a structure built on a plot of land, it’s not going anywhere.
Since cutting the house or mobile home down the middle isn’t an option, should one party get it or the other? And maybe in some divorces, one party might be invited to take the house or mobile home only if they can pay for it (which is a massive expense a time that people rarely want to incur such expenses).
Here’s How To Split The Real Estate Asset
The best way to divide a house or mobile home asset is to sell it:
Factors like sales-related expenses, outstanding bills, or an existing mortgage on the property should be considered. In the case of a divorce, it’s often advisable for the parties involved to sell the property and instruct their respective legal representatives to allocate the proceeds from the equity towards any outstanding financial obligations.
The remaining funds can then be divided between the parties based on a pre-agreed percentage, typically an equal split like 50/50.
Now, the crucial question arises – how should the property be effectively sold?
Complications of Selling during A Divorce House or Mobile Home
When it comes time to sell, most people think of selling through a real estate agent. Unfortunately there’s a few problems with this:
- Who pays: the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
- Long time: the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
- Complex Communicating: 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 is a costly and time-consuming way to sell, and it can actually make the divorce proceedings so much worse.
The Fastest Way To Sell A Divorce House or Mobile Home
Fortunately, there’s another way to sell and that’s to sell your house to a real estate buying firm (which is what we do here at RescueHouseBuyer.com). The real estate buying firm will buy your house or mobile home quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean up or fix up the property and the sale can be completed in days, not months, with very little paperwork.
If you’re going through divorce and want to just 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. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.