If you are currently going through a tough divorce and you are trying to figure out what to do with your no longer wanted real estate, then keep reading this article to see some of our best suggestions about selling your house while divorcing in Wichita…
Going through a divorce can be both challenging and emotional. Yet, during the situation, you may be like other couples going through a divorce who are also trying to figure out how to go about selling their house in Wichita. In this article, we give you our best strategies and ideas to help you search the real estate portion of your divorce as carefully and efficiently as possible.
Houses In Divorce Can Be Complicated
In the course of a divorce, the two parties are looking to split their assets in half. Some assets are liquid (like money), making it very easy to do. For other assets, like real estate, it’s more complicated to do because you can’t split a house in half. It’s one asset that gains its value from being whole, and it’s typically a structure built on land, so it can’t really go anywhere.
Since splitting the house down the middle is not an option, should one party obtain it or the other? And maybe for some divorces, one party may be invited to take the house only if they are able to pay for it (which is a massive amount of money at a time that people rarely want to bring upon themselves).
Here’s How To Split The Real Estate Asset
The efficient way to split the real estate asset is to sell it.
The property may have some expenses incurred during the sales process, or there might be outstanding bills, or maybe even a partial outstanding mortgage on the property. So, the two parties of divorce should sell the property and direct their attorneys to apply the money they earn from the equity to any outstanding debts.
The amount that remains can be split between the two parties, making sure each party gets an agreed-upon percentage (like 50/50).
This leads to the question—how do you sell the property?
The Fastest Way To Sell A Divorce House
When it’s time to sell the property, most sell through an agent. Unfortunately, there can be a few complications taking this route:
- the real estate agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
- the real estate agent will then list the property, which can take 3-6 months to sell (sometimes even longer) — can either party wait that long?
- the real estate agent will then involve both parties in negotiation with the buyer and there is A LOT of paperwork to moving back and forth between the parties.
This can be a costly and time-consuming way to sell, and it could possibly make the divorce proceedings a lot worse.
Fortunately, there’s another way to sell and that’s to sell your house to a real estate buying firm (which is what we do here at Sell Now Homes Wichita). The real estate buying firm will buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean or fix up the property and the sale can be completed in days rather than months, with very little paperwork.
If you’re going through a divorce and want to just be done with it and move on with your life, just reach out 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.
Click here to enter your information or call our office at (316) 413-8314 to tell us about your property