10 Reasons to Go Ahead and Sell Your House in a Divorce
10 Reasons to Sell Your House in a Divorce
People divorce for many reasons. Regardless of why you are pursuing a divorce, you will be faced with several difficult decisions over the coming months. One of those decisions is how to divide assets, including any shared property. Some individuals are happy to forgo the home for other assets such as vehicles, while others may wish to be bought out of their share of the home. But what is a fair share? A fair share cannot really be determined until the home is sold. And in couples, both individuals may want the home. Unfortunately, you cannot exactly divide a house in half. But you can sell it and divide the profit appropriately.
Several factors lead to potentially selling a house during the divorce, as explained below. At Flash Realty Solutions, we strive to help homeowners find the best solution for their unique situation and needs. When you want to sell your house fast, call us for a quote on a cash offer for your home.
1. Makes it Easier to Move On
Homes carry a number of memories, both good and bad, and sometimes it is better to start fresh. Selling a co-owned property allows both parties to use their profits towards building a new life and new memories. This also eases the pain of perhaps seeing a new lover in your old home. Regardless of why you choose to sell, the process does not have to add additional stress to your situation. We can buy your property as is in as little as seven days, allowing you to both walk away.
2. Expensive to Maintain Mortgage Payments on Your Own
The house may be under a mortgage that you both used to contribute towards. Paying the monthly mortgage amount may be difficult on your own, especially if you now owe alimony, child support, or have other expenses you are now responsible for covering on your own. Selling allows you to pocket the earnings and find a new place to live that is more suitable for your new lifestyle. If you do start to fall behind on payments, selling is a much better option than foreclosure.
3. Hard to Handle House Maintenance
All homes require maintenance. Your income may have been cut, and/or you may owe some hefty legal fees after the divorce. There is no need to stay stressed or to get in over your head on repairs. You can sell the home as-is and avoid the expensive maintenance fees.
4. Need Quick Cash to Start Personal Projects
Your preferences in life can change after divorce. Get the quick cash and invest in areas where you feel comfortable. There are several income generating ventures you can pursue to enjoy life after divorce.
5. Avoid Repair Responsibility
The home will require occasional repairs like HVAC, plumbing, and potentially even foundation. Big homes will cost thousands of dollars in repairs, which you may longer be able to afford, or want to deal with. A quick way to avoid responsibility is to sell the home.
6. You Don’t Need a lot of Space.
Now that you are single, you may no longer need the extra room. If children are not involved, you may opt for a small studio or apartment so that you can spend your money elsewhere on things like travel and new hobbies.
7. Want to Move to a Different Town
Use the opportunity to move somewhere you’ve always wanted to. Maybe your spouse’s job kept you in one place, and you’ve always wanted to live by the beach or in the mountains. Selling the home allows both parties to move wherever they choose. Moving cities also allows you to literally move on and start over somewhere new.
8. Avoid Psychological Torture
If everything around you reminds you of your former mate, it may be hard to fully move on. You may also wish not to see your former husband or wife until you’ve been able to heal. Moving to a new home, city, state, or even country allows you to get away from all the noise and focus on yourself.
9. You Can’t Afford Your Spouse’s Share of the Equity
You may want to keep the home, but your spouse wants to dispose of it. In this case, you will often need to buy them out of their portion. Sometimes this is just not possible. Consider selling the home and purchasing a slightly smaller one in the same or similar area.
10. You Feel Unsafe Staying in the Home
Unfortunately, some divorces are caused by or lead to violence. Sometimes a new significant other is overly suspicious or aggressive. If you feel unsafe, it is wise to relocate. Move to a location where you can feel comfortable and keep it a secret if you can. If you are a victim of domestic violence, please call 800.799.SAFE for resources and tips.
Divorce is enough to worry about. Call Flash Realty Solutions and see how they can help you sell your house in a divorce as-is and for cash in a flash.