5 Tips for Selling a House During Divorce
Jun 18, 2021 | Hometown Development
Dealing with a divorce can be a challenging situation. When you’re trying to sell your Michigan house in a divorce, the problems can increase. Here are five tips to help you through this situation.
1. Make a Decision Not Based on Emotion
You may be at the stage of trying to decide if you want to sell or keep the property. Since you won’t both be living there, both parties must agree to the final decision of what to do with the home. If one person would be living there with the children, keeping the house may be the preferred arrangement. However, it may end up being too costly for them to maintain with the reduced income. Look at the situation as objectively as possible to make a decision that is best for all parties involved.
2. Consider Costs of Keeping a Home
Even if you feel that keeping the home would be ideal for any kids involved, think about the costs that come with home ownership. Along with your mortgage payment, you must pay for any repairs and maintenance. You also have utilities, insurance, and other costs involved. With one less income and one less person living in the house, it may be more than you want or need.
3. Consider Who Owns the Property
Selling a house in Michigan during a divorce isn’t always simple. You must first consider who owns the property. If both names are on the property, both parties must agree to the sale. If only one person owns the property or if it was purchased by one person before you got married, that person may have sole authority to make the decision about what to do with it. The laws regarding property ownership in marriage vary by state, which is why it is important to know how it works in Michigan. Since this is a complicated legal issue, it is best to speak with your attorney on your rights to the home.
4. Sell Quickly to Move Forward
If you both are agreeable that you need to sell the house, you’ll want to sell it quickly. Your divorce won’t be finalized until everything is settled. You’ll have to deal with open houses, home tours, and offers with a traditional sale as well as the costs involved, which means you and your spouse will have to work together to come to a decision. If you aren’t on speaking terms, this can make a difficult decision even worse.
5. Consider How a Cash House Buyer Can Help
The fastest and easiest way to sell your house in a divorce is to a cash buyer. Cash buyers don’t need to go through lenders for financing, which can cut down the time it takes to close. They aren’t intimidated by challenging situations, lawyers, and court cases. They offer a fair cash price and will even take care of most of the paperwork to get you out of the house and moving forward with the divorce quickly.
The team at Hometown Development is experienced in buying homes in a divorce and will take much of the stress of selling away. We provide a fair cash offer and explain your options, so you know you are making the right decision. Contact us today for a no-obligation free cash offer at 616-379-3090.