If you had asked Aaron six months ago about his plans for the upcoming year, he probably would not have said “divorce.” But it was happening nonetheless—quickly—and he had called us in desperate need of some advice on what to do with the house that he and his partner owned together.

He’d thought about keeping it and asking to buy them out of the house, but eventually he started feeling overwhelmed by the prospect of keeping the home they’d bought together in their first year of marriage, and he also wanted to minimize the amount of contact they had moving forward. Things had been hard toward the end, and as far as he was concerned, the less they had to talk to each other, the better.

Your Options for Selling a House After You’ve Decided to Divorce

Though the 50% divorce rate myth has long been debunked, selling a home after a breakup is still a common problem among homeowners. When partnerships dissolve, so do their contracts, and the deed to a home is no exception. The biggest question, of course, is how to split the home. There are several options, and divorcees should consider them all:

  • One spouse remains in the home by “buying out” the other and replacing the joint mortgage with one only in their name. That means the spouse who’s staying pays an equalization payment to the spouse who’s leaving, which is half of the equity in the home. This is a pretty typical course of action, but it’s not one without complications—for example, to refinance the loan, you’ll have to have a Debt-to-Income ratio of less than 43%, and that might be tough if you’re paying alimony and/or child support at the time of your refinance.
  • Both spouses agree to co-own the home, and either continue to live in it together or rent it out to a third party. If you do decide to go down this route, make sure to document how co-ownership will be handled in your marriage settlement.
  • Both parties agree to sell the house and split the profits. In theory, this is the easiest route, but in practice, handling all the nitty gritty details can spell disaster. Divorcing couples have to agree on everything: to sell, first of all, then on how much to sell for, when the house will be shown, and how to divide the profits once it sells.
  • Nobody agrees on anything. These are worst-case scenarios, and they usually necessitate court involvement. Getting your lawyers involved should always be a last resort, and ideally you and your partner won’t have to get to that point.

An Alternative Option for Getting Out Fast

Though plenty of marriages end amicably, without ire, lots of them don’t, and in those cases, the best option is often to liquidate as quickly as possible. That might not be an easy feat considering how the real estate market works. You have to find an agent, have your house appraised and inspected, make any repairs or renovations it needs, and then wait for the right buyer to show up. It will certainly take weeks—and it might even take months.

If you’re going through a difficult divorce and you don’t just don’t have the financial or emotional bandwidth for the traditional home-selling process, we might have a better option for you. Sell Your House Direct can act as a neutral liaison between partners who need as little direct contact as possible. We can communicate between all parties individually—something that’s not possible with a traditional agent. Once we’ve spoken to you both, we’ll make a cash offer on your home in as little as 24 hours, and if you both accept, we’ll close the sale on whatever date you choose. That was the advice we gave to Aaron (and his partner): sell direct to us, split the cash, and walk away. It worked for them because that’s what they needed. They went with Sell Your House Direct because they knew that we:

  • Don’t charge commissions and won’t bill for hidden fees.
  • Pay the closing costs on all the homes we buy, without exception.
  • Won’t ask for repairs or renovations before buying. We’ll take your house just as it is.
  • Handle all of the cleaning and junk removal.
  • Give our clients the fairest offer we possibly can.

When Aaron first called us, he told us that the last thing he wanted to be doing was wading through the complicated ins and outs of selling his house during this difficult time. We can’t say we blame him. We know that going through a divorce can be a painful process, and though we couldn’t make his divorce any easier, we were happy to step in and alleviate some of the stress around selling his house. If you think Sell Your House Direct can help you get out of your house and on with your life, reach out to us today.

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