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I Need to Sell My House Fast Because of Divorce
Thursday, September 13, 2007
While main stream median states that nearly 50% of marriages end in divorce, the number is actually closer to 40%. In 2004, 37% of marriages ended in divorce and in 2005 that number increased to 38%.
States across the nation are experiencing an increase in divorce rates and at the same time reporting a decrease in marriages. Idaho is a perfect example of a state reporting these divorce and marriage statistics.
In 2004 Idaho reported 6,922 divorces, in 2005 that number raised to 7,126, then in 2006 the number of divorces in Idaho raised again to 7,500. During the same years (2004-2006) the number of marriages in Idaho decreased year after year. In 2004 there were 14,997 marriages, in 2005 that number decreased to 14,935, in 2006 the reported marriages dropped again to 14,811. (Source)
No matter what state you live in, if you are going through a divorce you should know you are not alone. While going through a divorce there are many decisions to make and none are easy. There are financial decisions, family decisions, asset decisions, and the list goes on.
Most likely the largest financial and asset decision you and your soon to be ex will make is what to do with your house. For most Americans their house is their larges asset and biggest investment.
There are basically two options to solve your house and divorce situation. One option is for one person to keep the house. The other option is to sell your house fast.
If one of you decides to keep your house it will require you to refinance your house and split the equity with your spouse. This solution is typically not the best choice because now there is only one income to pay the total mortgage payment instead of the combined two. Also, after refinancing your house the new mortgage payment will be higher.
The other option is to sell your house fast. There are basically three options you have to sell your house and only one of them solves the selling situation fast.
Selling your house FSBO definitely will not sell your house fast. It will involve you cooperating with your soon to be ex and doing things together. You will have to keep paying all the mortgage payment, utility bills, etc. before your house sells, and you will have to deal with potential buyers.
Another not so easy option is to list your house with a real estate agent. This option also requires cooperation with your spouse. You still have to keep paying all of your house and utility bills. You have to have your house in excellent condition so potential buyers can walk through your home and see if they like it. Another negative aspect of listing your house is the large commission you will have to pay your real estate agent, if and when your house finally sells.
The best option is to sell your house fast to sell it to a local home buyer. Local home buyers purchase many houses each month from people going through divorce. They are courteous to the selling situation and spouses do not have to deal with each other through out the transaction.
Lets face it, divorce is never an easy situation and is almost always a very emotional time. If you need to sell your house because you are going through a divorce, consider selling it to a local home buyer. Your local house buyer will solve your selling situation fast and be sensitive to your situation. You can sell your house fast and get on with your life.