If you’re wondering about the ins and outs of selling your home during a divorce in CARLISLE OH… we’ll dive into the steps and things to look out for in this article.
With over 50% of American marriages ending in divorce, many CARLISLE OH residents are looking or advice for selling a home during a divorce.
A home is one of the most valuable joint assets, and obviously cannot be divided without first liquidating. While a divorce is one of the most stressful and emotionally charged life events, it’s important to remain rational. There are several factors to consider when facing a divorce in a real estate market that has yet to rebound from the housing bubble burst.
Determine if (and when) You Will Be Selling Your Home During Your Divorce in CARLISLE
In many divorce cases, one spouse will keep the home, buying out the departing spouse’s share.
In many cases, agreements are made where one spouse uses the house for a set period of time (this is usually used when there are children in the home), and then sold at a certain date (usually when the children reach a certain age).
Get Professional Help – Agents and Home Buyers / Investors
Selling a home is a difficult process when everything is going right.
During a divorce, you have a lot going on, and a lot to consider. You shouldn’t take on the task of selling you home yourself. You may have disagreements with your spouse about selling price or other issues. By working with a real estate professional… either a reputable agent or real estate investment firm, you’ll both have a neutral third party who can help you determine a fair selling price and handle the marketing of your home.
If you need to sell your CARLISLE house fast… reputable local real estate investment firms like Rae Buys Houses may be a great option. Firms like ours actually BUY HOUSES (rather than listing them like agents do)… and we pay cash and can close quickly if you need to sell this house fast.
If you can wait the time it’ll take to list it with an agent and sell it on the open market, going with a real estate agent is your best bet.
But if you can’t wait the 3-9 months it sometimes takes to sell a house in this market in CARLISLE… chat with us to see what we can offer you for your house during your divorce.
Set (and stick to) a Timeline
It’s important, when selling your CARLISLE house during a divorce to keep a timeline.
You should put your home for sale in advance. Set firm closing dates, moving dates and times, and coordinate which spouse will be handling the sale (or talking to the real estate agent). Make sure that each of these agreements are in writing, and negotiate penalties for breaching the agreements.
This helps ensure a smooth, surprise free home sale.
Selling Your House Before a Divorce: A Surprisingly Good Idea
By Divorce.com staff
Updated Oct 28, 2022
If you’re anything like most Americans, the house you live in is the single most expensive thing you’ll buy in a lifetime. It might also be community property, which can be a source of real stress when you’re getting a divorce.
Unlike your bank accounts, debts and shared frequent flier miles, a house can’t really be evenly split between divorcing spouses, which means that you or your spouse can buy the other out, or you can sell the house and divide the sale proceeds.
In this article, we’ll look at why selling your house before filing for divorce may actually be your best bet.
Is selling property before divorce settlement a good idea?
As a rule, you should plan to put the house up for sale as quickly as possible once you’ve agreed that divorce is inevitable. By getting the property on the market early on, you’re maximizing the amount of time it’s available and potentially drawing in more interested buyers. That makes it more likely that you’ll get an offer you’re happy with, leaving more equity to divide between the two of you.
Putting your house up for sale before getting divorced also helps ease the way forward by letting you both move out and get used to something like the single life in separate homes.
One frequently overlooked benefit of selling the house before your divorce is in your tax filings. It’s not uncommon for both parties in a divorce to move out of the marital home, which technically makes the house you shared into a second home for you both.
If a significant amount of time goes by and the property appreciates in value to any great degree, the increase could be handled at tax time as a capital gain and taxed at the standard 15 percent. Thus, if you both move out in April of one year and the house doesn’t move until the next December but goes for $10,000 more than you paid for it, you may have to split a hefty $1,500 capital gains tax bill between you.
What You Can Do if The House Doesn’t Sell on Time
Putting the house up for sale before your file for divorce helps avoid all of that trouble, and there are a few things you can do to speed the selling process along. First, sit down and talk the matter through together. Be sure that you both agree the house must be sold, and that it’s for the best to get it off your hands.
Nothing is more certain to torpedo a promising offer than for one spouse to refuse the deal or to somehow make the property seem unattractive. People sometimes do this for financial reasons, and sometimes they do it for emotional reasons. In a divorce, you never know, so try to reach a consensus beforehand and act as a team to unload the property in an orderly way.
Another thing you can do to make sure the property sells before it becomes a white elephant in divorce court is to delay your split until the sale is final. If it seems odd to put your divorce on hold until your home sells, remember that the incentives you both operate under change when the court grants your final divorce decree.
You could be working with your spouse quite happily to sell the property, and then as the final court date draws near, your spouse may start playing for time in the hope of either staying in the house or of getting a bigger share of the sale price. By putting a big “pause” button on your divorce, you can help refocus your energy on selling while you’re still on the same page.
Selling Your House Fast For A Fair All-Cash Price
One option that many divorcing couples have turned to in recent years is making a quick sale to a real estate investor like Rae Buys Houses.
Reputable local real estate investors like us, purchase houses quickly and without stress, and the process can often take as little as seven days.
Deciding how to sell a marital home in CARLISLE doesn’t have to be as stressful as the divorce itself.
By protecting each party with a qualified real estate agent or simply jointly deciding to sell and selling fast to a real estate investment firm like Rae Buys Houses, and moving the process as quickly and according to an agreed upon schedule, all parties can walk away from the sale without stress.
If you want to discuss your situation with your divorce and see if we can help you save time, reduce stress, and get out of this situation fast…
Give us a call anytime at 937-557-1802 or
fill out the form on this website today! >>
We’ll evaluate your house, make you a fair all-cash offer, and you can decide if selling your house to us is the best fit for you. We’re here for you, just reach out and lets chat.