Divorce is a time in life that is riddled with a variety of tough battles. One’s emotions are like a roller coaster ride—feeling anger and loss, bouncing back and forth between the two, sprinkling in slight times of certainty. Waking up and getting through the day can feel like a heavyweight fight. The money side of divorce can be just as crippling, especially when a house is involved (how to sell a house during a divorce). Let’s talk about how to approach this financial and logistical hurdle of divorce.

Deciding when, or how, to sell your home during a divorce requires buyers to be very educated on all the specifics of selling a home. To be quite honest, there is a lot on the line for knowing how to sell a house during a divorce. After all, the sale will determine how much money you have to start your next life. So, here’s what to think about: knowing when to sell relative to market trends, finding out when your home will bring a lot back in return, and considering the length of time you have into selling your home. Also, consider how much you will save by not using a real estate agent as well

Understanding the Impact of Divorce on Homeownership

Divorce can really mess with homeownership and trigger emotional and financial challenges along the way.

For many couples, the family home is more than just four walls and a roof. It’s also a giant memory bank that comes stuffed with emotions. This doesn’t make it easy to decide whether to sell or break up. These memories can trigger tremendous feelings of loss and nostalgia. And it can make the “how” and “when” of the sale or even the division of the property a source of negotiation.

States determine the division of property based on a legal principle known as “equitable distribution” on the state’s laws or community property. If you decide to sell, in most cases, you get one-half of the proceeds from the sale of the home upon sale or refinancing. However, from a legal perspective, the ability to sell the home means that both parties have to agree on the price both are willing to accept for the sale to occur. What if the “away” spouse does not wish to accept the “stay” spouse’s buy-out offer? In the latter case, an appraisal may be necessary so that a record of a written “draft” offer can be accomplished and reviewed by your divorce attorney.

Finally, there are a host of financial considerations. For example, there may be more or less, as the case may be, a lot of “liability” associated with the house. “Equity” in this case is simply the difference between the fair market value of the home and the outstanding mortgage balance. If “equity” represents a substantial asset, “liquidating” the home (converting the “equity” into cash) as a result of the settlement may give both parties more financial independence.

Options for Selling Your Home in Bellevue

Navigating the numerous major life decisions during a divorce is no easy task. Selling your family home in Bellevue is certainly a significant decision with various paths of approach.

• Kind of like a “For Sale by Owner” approach, selling the property directly without the assistance of a real estate agent. Realtors, though very helpful in the negotiating process, do take quite a long time to properly market your home and more time to officially close on a new sale. It typically takes about 6-12 months, although times are a bit quicker during hot housing markets.

Selling your home by yourself may save you a bit of money, as agents commonly charge about 5-6% commissions. There may even be costly repairs needed before a home is ready to be listed by an agent. However, you should feel confident and comfortable with the legal home sales process before opting for this method.

• A bit of a “hybrid” between selling a home FSBO on your own or with an agent is selling to investors. These are the well-known “we buy houses” types of home purchases that people often associate with signs on a pole or advertisements on the internet or TV. By selling your house this way, your home is commonly desired “AS-IS” including if it’s in disrepair and needs serious maintenance or if it’s in better condition since it’s seen as a liability by most traditional buyers (especially during the COVID-19 economic situation). These cash home buyers are home buying companies’ real estate investors.
• The final option, although neither a home sale nor not a home sale, is what I could best describe as an “internal” home sale between you and your ex-spouse. Early in my content writing career, I was looking to sell our company’s services online. I believed I was the world’s best salesperson and headed into my content writing work like a hungry wolf. If I could sell a product/commodity/idea on the actual sales page, why not write only about how great my products are and how much readers are in need of them? Let’s go directly to the actual sales pitch that readers are dying to see already. Readers will hit the “buy now” button like there’s no tomorrow, right?

The Benefits of Selling As Is

“Selling as is” means selling the house in the present condition, without making any further improvements to it or trying to stage it. We all know the many advantages of selling as is, such as:

• Quick sales process – Most of the time, what divorcing couples need is a quick sale. Relationships have broken down, and they need to get a clean break. A house that needs thousands of dollars worth of work is better off being listed as it is. There’s a ready market of investors, real estate contractors, and others willing to buy, and it lessens the burden on the proceeds of the home so that the money can go to more pressing needs.

The other thing about selling to such individuals is that you get cash in return. Some couples know they’re moving to uncertain places or trying to start a new life on their own, and they desperately need the money to do so. It might not be a good idea for everyone, but at least it gets some money in your pocket.

Steps to Take When Selling Your Home During a Divorce

Selling a home can feel like a massive undertaking—but breaking it down step by step can help.

Step one? Enlist the help of a real estate professional. While there are steps you can do on your own, these professionals are trained to understand the real estate market and can be a tremendous asset, helping you wade through the resales and set the right price for your home. They can also help you understand the ins and outs of selling.

Organize your paperwork. Much like seeing a doctor or starting a new semester in school, having all the relevant documents (deeds, mortgage information, and disclosures) will not only make the process go more smoothly, but it can also make buyers see you in a more favorable light. To the buyer, you are someone who is well-prepared and knowledgeable. Through this, sales can be accelerated, and they may be more likely to select your offer over someone else’s.

You need to decide how you will sell your home. There is a multitude of ways to handle the sale of the asset. They all basically boil down into three overarching types: selling the home with a realtor, selling the home on your own, and selling your home to a cash buyer. Each of these has its benefits—and can be utilized best based on three different factors: your need to sell, your financial ability, and how the market is doing.

Then, pick up the phone. Sell your house as-is for cash. We Buy Houses As Is Phone Number. This is, of course, the best option for homeowners who are downsizing and would like to sell their house quickly for cash. This is also best for homeowners who want to sell a property that needs a lot of repairs, or want to cut the house loose. Selling to a cash buyer is one way you can use to cut a lot of the fat off of the selling process in terms of money and time. Another good thing? If you call We Buy Houses As Is over the phone, you can get a free, no-obligation offer, and then consider what next steps you want to take.

Frequently Asked Questions

Putting a house up for sale during a divorce makes an already complex situation much more complicated (and more emotional). Many people want to know: “How long does the process take?” The timeline varies greatly, depending on the local real estate market, the condition of the home at the time of sale, and the willingness of both parties to cooperate. If you were to add up the time it takes to resolve disagreements and actually move out, you’d be lucky to get everything done within a year.

Many divorcing couples find a new set of key issues arise if one of the spouses attempts to keep the house. To keep the house, the spouse who remains in their home must buy the other out. This presents a tricky financial proposition for some, as they must refinance their mortgage or find a way to pay the other person—in full. Communication about this issue is absolutely essential, so is establishing realistic goals you can communicate to potential buyers. Be sure you both know what you want to get out of the sale.

Divorce is never easy, and if you have a home you need to sell, it complicates things even further. What are your options? Well, you can list it on the open market with a real estate agent, sell it to a cash home buyer, or look at some of the “we buy house as is” companies. They all have their advantages and disadvantages. However, a company like We Buy House As Is could be just what you need for a quick, stress-free sale.

The good thing about using a service like We Buy House As Is is that it takes all the hard work and worry out of the process. Why spend months getting a home ready for sale, doing all the repairs, painting, and decorating? Then you have to keep it tidy for viewers. Remember, this can take months, sometimes up to a year, to get the price you want. What if you just want to get a “quickie” divorce and have done with it? We Buy House As Is can help with this, too.

Yes, you’ll get a lower cash offer, but if you want to get out quick with no pressure, then this could be the way out for you. There are no realtor or buyer commission fees to pay, and you don’t have to clean or carry out repairs. Remember, you can get “cash in a week” if you want. Just take what you want with you, and we’ll do the rest.

Also, if you don’t want the house “spotlighted on the internet” for all to see, then get in touch with We Buy House As Is, and we can do a quick sale with no strings attached. Take the “bird-in-the-hand” shake and walk away within days if that is what you want.