Stay tuned for our top tips on selling your house while divorcing in Atlanta. If you’re going thru a painful divorce and trying to figure out what to do with your undesirable property,
Divorce may be a difficult and emotional experience. However, you may find yourself in the same predicament as other divorcing couples who own a home and are attempting to figure out how to go about selling their home while divorcing in Atlanta while dealing with the stress of the situation. Here are some of our greatest methods and suggestions to assist you in navigating the real estate component of your divorce as wisely and expeditiously as possible:
Houses can be a source of contention during a divorce.
During a divorce, the two parties attempt to divide their assets evenly between them. It’s relatively simple to do this with some assets that are highly liquid (such as money). It’s considerably more difficult to divide other assets, such as real estate, because it’s difficult to divide a house in half, for example. One item that draws its value from its completeness, and it’s usually a structure erected on a plot of land, so it’s not going anywhere very soon.
Given that dividing the house down the middle isn’t an option, should one political party get it and the other lose it entirely? Furthermore, in some divorces, one party may be invited to take possession of the residence only if they are able to pay for it (which is a massive expense at a time when people rarely want to incur such expenses).
Listed Below Is How To Divide A Real Estate Asset.
The most efficient method of dividing a real estate asset is to sell it.
In addition to any fees incurred throughout the sales process, there may be outstanding invoices, or there may still be a portion of the mortgage on the property that has not been fully paid off. As a result, the two divorcing parties should probably merely sell the property and instruct their attorneys to apply the money received from the sale proceeds to any outstanding debts that remain.
The leftover sum can then be divided between the two parties, with each receiving a percentage (such as 50/50) that has been agreed upon by both parties.
However, this raises the question of how to go about selling the property.
What Is the Most Efficient Method of Selling a Divorce House?
When it comes time to sell a home, the majority of individuals consider working with a real estate agent. Unfortunately, there are a couple of issues with this approach:
- The realtor will require the owners to spend out-of-pocket to spruce up the property before selling it – but who will pay for the repairs and renovations?
- After that, the realtor will list the home, which might take 3-6 months to sell (sometimes longer)—can either party afford to wait that long?
- After that, the agent will involve both parties in the discussion with the buyer, and there will be a LOT of paperwork to shuffle back and forth between them.
This is a time-consuming and expensive method of selling, and it has the potential to make the divorce procedures far worse.
Fortunately, there is an alternative method of selling, which is to sell your home to a real estate buying company (which is what we do here at Georgia Fair Offer). The real estate buying company will purchase your home promptly, for cash, and in its current condition (and as a bonus, there are never any commissions or fees to pay). You are not required to clean or repair the property, and the sale can be completed in days, rather than months, with minimal documentation.
Contact us if you’re going thru a divorce and want to be done with it and go on with your life. Simply describe your situation and the house you want to sell, and we’ll take care of the rest. In addition, we specialize in purchasing divorce homes, and we may be able to assist you in expediting your divorce by purchasing this home from you.