Divorce is one of the most challenging situations to experience as a family. Neither the parents nor the children are spared the difficult events that accompany a divorce, such as possibly having to sell the family home. A family home can hold tremendous sentimental value, and it is usually the largest asset many divorcing couples co-own. It is the one place where you feel secure and nurture your loved ones. Unfortunately, a divorce sometimes results in the separation from the comfortable place you’ve known and loved. Selling your home at this trying time can be overwhelming.
Of the largest debts you might have is paying your mortgage every month. If this is one of the payments you are behind on, you should not rush straight to selling your home. However, you don’t want to avoid the problem either, otherwise you could be facing foreclosure. Here are some things to do first before making any other decisions:
People who have stayed in the same home their entire lives should take great caution when considering the sale of the home. There’s a lot of emotional value at stake; the kids’ dreams have been modeled within the confines of this house, and this is where they have made their memories. Acting with careful consideration and thoughtfulness can make all the difference. Be sure to have short-term plans factored in before telling the children the plans to sell, and make every effort to ensure they feel secure and comfortable with the transition.
Sometimes selling a house comes with the added stress of making costly repairs, or finding a reputable contractor to assist you in order to increase the probability that someone will want to buy your house quickly and at a fair price. It’s not exactly something most divorcing couples want to think about on top of everything else going on in their lives. Texas Home Buyers purchases your home as-is, with no questions asked, and takes care of all the paperwork and inspections involved in the process. All you have to do is schedule and sign. We’ll see to all the renovations once the sale has finalized so you can focus on building your future.
Dividing the proceeds is the final step when dealing with the issue of selling a home during a divorce. Make all the necessary deductions and pay-offs before allocating the money. Closing costs, processing fees and any outstanding mortgage should be settled first. Any unpaid costs incurred by either party should also be settled first. Other methods of distribution can be made, for example making any payments that both of you agree to, such as other marital debts. All in all, strive to allow each person to walk away as content and satisfied as possible, as it could impact the well-being of children.
Nobody anticipates a divorce, but when it is the only thing set to happen, deciding to sell the home could consequently follow. Do not hesitate to contact us when such a need arises and save yourself and your partner the stressful hassle of home sale.
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