Are you going through a divorce? If so, you’ll likely already know that divorce proceedings can be particularly difficult if you previously shared a house with your Ex-spouse. This is because while everything else may be easy to split up, figuring out what will happen to a house after a divorce is much harder.
Unlike many other things that you and your ex-spouse might have owned together, real estate is difficult to split up because it’s a hard asset. As such, the only way to break up and split a shared house is to sell the house during a divorce. On the flip side, you could opt to negotiate a house buyout at divorce instead. This would allow you to buy your spouse’s share of the property then continue to live in the property or visa versa.
But overall, divorce can be challenging and emotional. As such, if you’re planning to sell a home during a divorce, it can be very difficult to oversee a home sale while battling it out with your lawyers. However, that doesn’t mean it’s impossible. Below, we are going to give you a few this that will help you manage your home sale when selling your house during a divorce in Rosemount MN. For more information on this subject, you should also read our blog on Selling Your Home During a Divorce in Minneapolis MN.
How to Sell Your House During a Divorce in Rosemount MN
Here are our best strategies that will help you navigate through the real estate portion of your divorce as efficiently as possible.
During a divorce, couples will usually seek to split their assets in half. For liquid assets (such as money), this is very easy to do. However, for other assets that are a bit more solid (such as real estate), splitting them down the middle can be much harder to do. How do you split a house in half? Real estate assets are assets that derive their value from being whole.
So, since cutting your house down the middle isn’t an option, one party could consider buying out the other. This would typically be done by couples that have children. However, for couples that don’t have children, one of the best options would be to sell the house during a divorce and slip the liquid funds generated evenly.
The best way to split any real estate asset is to sell it. However, this is not always easy.
The property itself may incur expenses (such as repair or maintenance costs) during the sale process. Or there might be outstanding bills/ a partially outstanding mortgage on the property. In these cases, it would be best if the two divorcing parties just sold the property and directed their attorneys to apply the money earned from the equity to any outstanding debts, before then splitting the final sum.
But this then begs the question — how do you sell the property?
When it comes time to sell, most people will think of selling through a real estate agent. Unfortunately, there’s a few problems with this:
- Expenses: the agent will make the owners pay out-of-pocket to fix up the property first — but who wants to pay for that?
- Time: the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
- Work and Hassles: the agent will then involve both parties in the negotiations with the buyer which can be very trying if you’re facing a particularly difficult divorce. In addition, there is also 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’s another way to sell. You can sell your house directly to our company. At FastPath Home Buyers, we buy houses in Rosemount MN. We will buy your house quickly (we can close in as little as 7 days from the moment you call us), For Cash. We don’t charge any Fees and Commissions for a sale. And we also accept houses “as-is” (so you won’t have to worry about paying for repairs or maintenance). You don’t have to clean up or fix up the property and the sale can be completed in days, not months… with very little paperwork.
However, that is where we come in. If you’d prefer an easier sale option (that does not require you to hire an agent or pay expensive commissions), you should consider selling directly to FastPath Home Buyers. We buy houses directly. When you sell your house to use, our team will work very hard to ensure that you have very little to worry about. If your facing a divorce, you’ve already got enough on your plate!
Simply call us at (612) 351-2384, or fill out the short form below, and we’ll get back to you with the highest possible offer when can provide.
Now You Have The Knowledge. Get Your Free Offer Now!We give you actionable data to make the best decision.
Find Out How Much Cash We Can Offer For Your Minneapolis House!