Divorce and Your Home

When you are in the process of a divorce, every phase of your life is changing. You are taking the life that you have built with your spouse and dividing it in half. All aspects need to be shared in a manner which is fair for both of you. In some cases, such as a bank account, it is very simple to just divide the money in half and each take their share. But there is no way to just cut your family home in half and each part with a piece of it. You must work together to determine what will be the best outcome for both of you.

Selling your house before the divorce can be very simplifying. You are basically converting the value of the house to cash and adding that money to any accounts that you have in place. When the divorce settlement is completed, the cash will be evenly distributed between the two of you. Your other option is to wait and sell the house after the divorce. This can be more difficult as one party might need to buy out the other party’s share of the home. Or there could be another amicable agreement as to how the value is shared.

The biggest factor when deciding on a time to sell the family home is finding a solution that you can both agree on. Separating your lives is difficult enough and adding in the stress of selling a home can make the process much more difficult. You will want to consider the living arrangements for both of you during the divorce and after. And if you have children, you will want to decide what would be the least upsetting for them. Sometimes agreeing to keep the house for a time frame to allow the children to adjust is a good idea. Then they can transition to a new home just once after the divorce and home sale are complete.

If cash and money to live on is an issue for one or both of you, then you will want to consider selling your home to a real estate investor. This is a great way to sell your home quickly. An investor will purchase the house in as is condition so you won’t need to deal with costly or time consuming repairs or renovations. In addition, the offers are normally all cash so the closing can be with just a week or two. The fast processing of your home sale will allow both of you to move on from this phase of your life.  

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