Selling a House in Divorce Englewood
Divorces are never a pleasant thing to go through for any couple and things get worse when it comes to selling a house in divorce in Englewood.
The family house is the most valuable joint asset in most marriages. It may not be easy to make the decision to sell it, no matter how heated the divorce was. Even for the most amicable divorces, things can get hotter when it comes to deciding what to do with the marital house.
Selling a house in divorce Englewood can be one of the hardest things a couple can do when going through a separation. But what do you actually do when it’s time to head separate ways and you need to sell your house after the divorce agreement?
Before you choose an action to take, here are some things you need to know about divorces and selling a house in divorce.
The house is the main asset of the marriage
A house is the most important asset that any couple can ever own. More valuable than the cars and other personal items. However, the cars and other personal items will still be included in the marital assets when it’s time for splitting. The total of all marital assets will be split between the two and not the house on its own.
When it comes to splitting these assets, the two have to agree on how things will work. If one partner ends up with other expensive assets, their share in the house might be reduced as per how the two of you agree. Usually, the house is part of the dividends that are to be sold and the proceeds split between the separating couples so that each one can receive a portion of the assets.
Most divorcing couples choose to sell
Another important aspect you need to know before selling a house in divorce in Englewood is that you are not alone. In fact, most couples that are divorcing choose to sell their houses over any other options like keeping the house or even renting it out. Most of them feel it is way better to sell the house and move into separate properties in the shortest time possible. However, in rare instances, some partners choose to buy out the share of the others and thus they take over full ownership of the house.
Since many people only go into house ownership after they have married and have a combined financial muscle, separation means they will no longer be able to afford the house on their own. If you still owe a mortgage on one house, you will have to sell it first and pay the mortgage before thinking about buying a new house or alternatively, you can have someone remortgage it and pay out the other side.
Agree on the price
When selling a house in divorce, buyers will tend to know that you are in some kind of desperate situation. Even though it’s a good idea to let potential buyers know the reason for selling your house, don’t ever let them know how desperate you are because some will take advantage of your situation and make you mediocre offers. Many companies that buy houses for cash have been accused of such tactics, but this is not what you find at Denver Property Flip, a local real estate investment company that buys houses for cash.
No matter what, it’s important that you agree on a price for your house. Whether it’s selling privately or through an auction, make sure that you have agreed on a figure that will leave both parties happy. If you have different agents, make sure they both represent your interests and not theirs. The bottom line is that the house must be sold. If you can’t agree on a price, better involve third parties to make the decision for you, even if it means including a court of law. Just keep in mind that it doesn’t in any way pay to haggle.
If you want a quick house sale, call us on (720) 370-9595 and we’ll make you an all-cash offer within 24 hours.