If you’re currently in the midst of a divorce and looking at options to deal with an unwanted property, continue reading this article to advise you on selling your home while divorcing in Salt Lake City…
Going through a divorce is often emotional and difficult. But, during this difficult situation, you may be just like many other couples who own a property and are seeing how to best sell their home while divorcing in Salt Lake City. Below, we’ve listed our top strategies to help you in dealing with the real estate aspects of your divorce as smoothly and easily as possible.
Dividing Property During Divorce Can Be Complicated
While in the midst of a divorce, the two individuals go about dividing their assets. The assets that are liquid (like money) are simple to split. For the other assets, such as a property, it gets more difficult since you can’t just split a house in two. This is an example of an asset that has value as a whole entity – it is a structure put together on a section of land – so, can’t normally be separated into two pieces.
Because sawing the home in half isn’t a viable option, perhaps one party should keep the entire thing? Sometimes, one individual may have the option to purchase the others’ half in order to keep the whole house (but this is a huge expense that many people can’t afford all at once).
Here Is How To Divide A Real Estate Asset
The easiest and best way to divide a property is to sell it:
The actual property may have incurred expenses during the sale, or there may be part of the mortgage left to pay or other bills. So, the best way to take care of all of that would be to sell the house and have their attorneys direct those funds to their debts.
Then, the remaining amount of money can be divided between each person (as in equally 50/50).
But, you may still be asking – what’s the best way to actually sell the property?
The Quickest Way To Sell A Divorce Property
Once it’s time to sell your property, many people automatically assume they should sell it via a real estate agent. But, this poses some major issues:
- The agent will require that the couple fix up the property first and pay out of pocket for this – but, how will this be paid for?
- The agent then will proceed to list the property, this can take 3-6 months or longer before it ends up selling – can the parties wait that length of time?
- The agent will at that point require both parties to negotiate with the buyer and handle A TON of paperwork that has to get signed and resigned, etc.
This way of selling a property is expensive and takes a long period of time, which can make the whole divorce that much worse.
Thankfully, another way exists, which is to sell your property to a real estate buying company (like us here at Property Seller Solutions). The property buying firm will give you cash for your house fast, will do so “as-is” (and as a special perk, there won’t be any fees or commissions to pay). You won’t have to do repairs or clean up the place and the entire sale can be finished within days, not months or longer, and without a mountain of paperwork.
If you’re dealing with a divorce and would rather just get it over with so you can move forward with your life, all you need to do is give us a call and tell us about the home you are needing to sell. One of our specialties is buying divorce properties and we can be of help to get your divorce over faster by buying your property from you.