If you are experiencing a difficult divorce and now have to decide what to do about your house you own, then keep reading this article to give you our top suggestions regarding selling your house while divorcing in Detroit…
There’s both a lot of challenges and high emotions when it comes to divorce. Not to mention along with this difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house while divorcing in Detroit. The following are some of our best strategies and ideas that can help you figure out the house selling portion of your divorce as carefully and efficiently as possible.
Houses In Divorce Can Be Complicated
During a divorce, the divorcing parties try to split their assets in half. Some assets that are liquid, like money, it’s very easy to do. For other assets, such as real estate, it is a bit harder to do due to the fact that it’s tough to split a house in down the middle. It can’t really be done. This is an asset that gets its value from being a intact property, and it is usually a structure built on a plot of land, so it isn’t going anywhere.
Since there’s no way to divide the physical house through the middle, should one of the parties in the divorce get it or should the other? And in some divorces, one party might be invited to take the house only if they can pay for it (which is a very large expense those going through the divorce simply can’t afford).
Here’s How To Split The Real Estate Asset
The best way to split the real estate asset is to sell it:
During a divorce, there is likely going to have to be some debts relating to the property that will need to be paid that should be considered. There will be some expenses that are incurred during the sales process, there also might be outstanding bills, or there often is a mortgage on the property. So to split these debts down the middle, the two divorcing parties can sell the property and have their attorneys to apply the money earned from the equity to any outstanding debts.
The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (such as 50/50).
But this brings me to the next question — how do you sell the property?
The Fastest Way To Sell A Divorce House
When it the decision is made to sell your house while divorcing in Detroit, most people think of selling through a real estate agent. Unfortunately with the divorce, there can be a few problems with this:
- the agent will suggest the owners pay to fix up the property first — but who pays for that?
- the agent will have to list the house, which can take 3-6 months to sell (sometimes longer) — does either party want to wait that long?
- the agent will then involve both parties in the negotiation with the buyer and there is A LOT of paperwork to shuffle back and forth
This is a costly and time-consuming way to sell, and it can actually make the divorce proceedings so much worse.
Fortunately, there is an alternative means to sell and that is to sell your house to a real estate buying firm (which is what we do here at Amaze Properties LLC). Our house buying company will buy your house quickly, for cash, in as-is condition (and as a bonus, you will never pay any commissions or fees). You won’t be forced to clean up or fix up the property and the sale can be completed in days, not months, with very little paperwork.
If you are selling your house while divorcing in Detroit and want to just be done with it and move on with your life, just reach out to us and tell us about the property you want to sell. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.