Selling Your Home During a Divorce

Divorce can be a very unpleasant and difficult process. One of the many challenges divorcing couples face is deciding on how to best divide their assets. As it is the most valuable asset that most couples share, deciding on what to do with your marital home can be one of the largest hurdles in the divorce process.

Will one spouse buy out the other’s portion of the home and continue to live there, or will the divorcing couple prepare the home for sale and search for a buyer; is there time and desire to deal with the sale process through a Realtor? Is there an easier way to sell your home during an already unpleasant and stressful situation? Let’s take a closer look at the options available to you.

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Staying on the Homestead

One option is for one party to buyout the other’s stake in the home. This type of approach is common among people with children who hope to keep them in the same home, as well as, in people trying to retain a property that has been in their family for many years.

Although this option does have its obvious appeals in some situations, choosing to do so also has its drawbacks. For starters, this route can be very expensive for the person choosing to stay in the marital home.To perform a buyout, typically the buying spouse would refinance the home and take out a new mortgage so that they can pay the selling spouse. Alternatively, they could choose to give up other marital assets that would be divided such as savings or investments in an amount equal to what is owed. In either situation, the buyer is taking a massive financial hit during an already expensive time. To make matters worse, the agreed upon price of the home might leave either party feeling slighted if the home’s value either appreciates (gains value) or depreciated (loses value) at any point after the settlement.

In addition to the financial burdens associated with staying in the home, many people find the idea emotionally exhausting. Some may have bad memories in the home and wish to leave, while others might simply be looking for a fresh start to this new chapter of their lives

Selling Your Property Conventionally

The feat of selling a home in and of itself can sometimes be very stressful and complicated. Many homes may require either minor or major repairs, home inspection, the correction of issues found during that home inspection or fixing of code violations; or any number of other issues that must be corrected before the house is ready for the market.

When the home is being sold by a divorcing couple, these issues can be even more unpleasant for a few reasons. For starters, all of these problems, whether they’re minor or major, will cost money. Who is to pay for them? Will you split the cost? Is one party more responsible for the issue than the other? Despite the inconvenience, these issues will need to be resolved. This can cost the couple additional money at an already expensive time, potentially cause even more problems between them, and take time. Hundreds to thousands of dollars and weeks or months later, these issues may be resolved and the home ready for market.

Unfortunately, the complications don’t stop there… Supposing you take the conventional approach to selling your property, you will be hiring a real estate agent to oversee the process. The average timeframe for the sale of a home via a real estate agent is somewhere between 3-6 months, but depending on factors like the market, the property’s condition and appeal, and plain old luck, it may take longer.

Many divorced couples will want to have the process over and done with as soon as possible so that they can move on. Having the sale of the home looming over their heads might either simply be an unwanted nuisance or may tie up money that they need more immediately.

The selling process will also involve cleaning, staging, doing minor repairs as well as accommodating buyers at all hours of the day. And the stress doesn’t end there; once the house is under contract, the buyer will order a home inspection and may require further repairs to be completed prior to title transfer. Which spouse organizes and completes the repairs the buyer requests? Which spouse foots the bill? Once these hurdles are squared away, the buyers lender sends in their appraiser; if the buyers loan is VA or FHA, the appraiser may cite ‘necessary repairs’, meaning that the seller has to fix the cited items for the bank to approve the loan. And after all of these nuances of trying to sell your home during an already exhausting time, the buyers financing may fall through during the last minute costing sellers time and money and requiring the process to start from the beginning.

It is hard to agree on anything during a divorce, but both spouses will need to approve quite a bit of paperwork which will need to be agreed upon by both parties. This means that in addition to the mounds of paperwork involved in a divorce, the divorced couple will also constantly be shuffling real estate paperwork back and forth.

Is There a Better Way?

Simply reading the preceding sections, you may have felt the stress of the situation intensify. However, there’s no need to worry! We’re here to help. We’re cash buyers and we can offer a faster and less stressful option for divorcing couples. If you’ve come to the conclusion that selling the property is the route you would like to take, selling to us has several advantages over the conventional selling process.

For starters, the process is much, much faster. After looking at the property once, we can get you an offer within 24-48 hours. In some cases, we can even get you an official offer the day of! Once a price has been agreed upon, we can close on the property in as little as 7 days, or longer if you need more time. In addition to the speed of the transaction, selling to us allows you to skip some of the inconveniences of the traditional selling method. We don’t require that you fix any issues in the home beforehand.

We will buy your home in as-is condition, allowing you to save time, effort, and upfront costs. You can also skip the hassle of hosting open houses, reduce the amount of paperwork involved, and free yourself of the commission fees that a real estate agent requires. If your property meets our buying criteria, you simply hand over your keys after closing with a local title company. No repairs, no staging, no paining or fixing anything; leave everything as it is, even the personal possessions like furniture clothes, etc.

We understand that this can be a very difficult time in a person’s life. Our goal is to make the process of selling your marital home as quick, convenient, and painless for you as possible!

The Process

We buy houses in As-Is condition all over the Cleveland suburbs. You choose your closing date and we will pay all closing costs. No fees, no realtor commissions and no closing costs.

Fill Out Our Quick Form

Or call us, we’ll ask some basic questions about the address and general condition of the house and schedule a visit to your home.

Get No Obligation Cash Offer. As Is, No Repairs, In Any Condition.

Once we view the home, we’ll present you with a fair offer based on sold comparable homes.

Choose Your Closing Date in as Little as 7 Days.

We’ll hire a local title company to handle closing and title transfer. You choose your closing date!

Request a Free, No Obligation Consultation.

Please fill out the form below and we will contact you shortly or alternatively call us at (216) 220-7373

Request a Free, No Obligation Consultation.

Please fill out the form below and we will contact you shortly or alternatively call us at (216) 220-7373

Additional Situations & Scenarios

We buy house in As-Is condition all over the Cleveland suburbs. There are no closing costs, no real estate commissions, and no selling fees. We are local, real people who care about our community. Lets discuss your situation and find a way to help you!

Browse different types of situations and scenarios where we can help:

Need Cash Quickly

If you are experiencing a hardship or need cash quickly for any reason, we are here to help you sell your house fast and for cash. We pay cash so we do not depend on any lenders or their rules and the condition of the house does not matter.

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Relocation

Relocating to another city or even state is a complicated process. Having to sell your home during relocation requires time, effort and patience during an already stressful time. We will buy your house as-is without any repairs and we will pay your closing costs!

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Divorce

Divorce can be a very unpleasant and difficult process. One of the many challenges divorcing couples face is deciding on how to best divide their assets. There an easier way to sell your home during an already unpleasant and stressful situation.

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House Structural Issues

Structural problems can occur due to numerous causes such as soil migration, overgrown tree roots, clogged or cracked drains, improper construction or deterioration due to age or lack of maintenance. We can close quickly and easily saving you stress, time and money.

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Foreclosure and Notice of Default

Sometimes life doesn’t go according to plan. Sometimes the dream of homeownership turns into stress, anxiety and a headache. If you are experiencing a hardship and are facing losing your home, there may be several options to avoid the foreclosure process.

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