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Selling Your Home Fast Due to Divorce

Posted Friday, September 27, 2013

It is estimated that in the United States, nearly half of marriages end in divorce. State by state statistics vary but regardless of what state you live in, if you're going through a divorce, many difficult decisions regarding finances, how to split up assets, dividing time with children, etc. need to be made. The most difficult and largest financial decision to make is what to do about the family home. Some things to consider are:

You will need to decide whether one party can afford to stay in the home, refinance the mortgage into their name and buy the other party out. Or is it easier to sell your house fast and both parties move on into separate homes and lives?

Should you sell the home before or after the divorce is final? What route is really the best way to go in regards to this large financial asset (or large financial debt)? One option is to sell my house fast. There are several ways you can go about doing this, each with their own advantages and disadvantages.

Selling your home For Sale By Owner. This may seem like a cost saving idea, however it has its drawbacks. This option may not get the home sold quick enough for you. You'll have to deal with your soon to be ex spouse over things such as selling price, dealing with potential buyers and offers and also making all of the necessary payments on the mortgage etc. until the home sells. 

Putting your home on the market with a real estate agent. Listing with an agent is one way to go, they will help you get an idea of the market conditions, what you can expect for a sale price and time on the market. You will still have to deal with things similar to selling FSBO in regards to making payments, keeping the home up for showings, dealing with your ex on negotiations, etc. In addition there is the higher cost to list the home because you will have to pay seller and buyer agent commissions. 

Another idea to sell my house fast to sell to a local home buyer. Private local buyers/investors purchase homes outright avoiding the time and expense it can take to list the home or sell it FSBO. Often times they can close on a deal to purchase your home in 30 days or less alleviating a ton of stress and expense. 

Its understandable that going through a divorce is not easy and often times very emotional. If you need to sell your home fast due to a divorce, consider selling to a local home buyer.