If you’re in the middle of a difficult divorce and trying to figure out what to do about your unwanted real estate, then keep reading this blog post to give you our best suggestions about selling your house while divorcing in McAllen…
Divorce can be challenging and emotional. Often, in the midst of the difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house while divorcing in McAllen. Here are our best strategies and ideas to help you navigate the real estate portion of your divorce as efficiently as possible.
Houses In Divorce Can Get Complicated
During a divorce, the goal of both parties is to divide the assets in half. For some assets, like bank accounts, it’s easy to do. For other assets, like real estate property, it’s more difficult to do because how do you split a house in half?
Since cutting the house down the middle isn’t an option, a question comes to mind: who should keep the house? Sometimes an agreement is not possible to reach, in other situations, one party might be allowed to get the house only if they can keep making all the payments (and we don’t always have the money to pay for the house on a single person salary).
Here’s How To Split The Real Estate Asset
The best way to split the real estate property is to sell.
The property itself might have some expenses incurred during the sales process, or there might be outstanding bills, or mortgage payments. So the two divorcing parties should probably just sell the property and direct their attorneys to apply the money earned from the equity to pay any outstanding debts.
The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (for example, 50/50).
But this brings up another question – how do you sell the property?
The Fastest Way To Sell A Divorce House
When it comes time to sell, most people think of selling through a real estate agent. Unfortunately there are a few problems with this:
- the agent will usually ask the owners to pay out-of-pocket to fix up the property to sell it at a good price — but who pays for that?
- the agent will procede to have the house listed, which can take 3-6 months to sell (sometimes longer, if the buyer doesn’t get financing at the last minute or backs off the deal) — can you afford to wait that long? And you still have mortgage payments to make while going thru the whole process.
- the agent will then involve both parties in the negotiation between seller and buyer and there will be A LOT of paperwork to go back and forth
This is a costly, stressful, and time-consuming way to sell, and it can actually make the divorce proceedings much worse, especially if it is not an amicable split.
Fortunately, there’s another way to sell and that’s to sell your house directly to a real estate buying firm (which is what we do here at Dolfin RGV). We will buy your house quickly, for cash, in as-is condition (and as a bonus, with no commissions or fees to pay). You don’t have to clean up or fix up the house and the sale can be completed in days, not months, with 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.