Divorce is an overwhelming and stressfulevent of one’s life. And deciding to sell the home at the same time just adds to the woes of a collapsed marriage. Who will own the home? Who is going to get what? How long does it take to sell the home? How to find a real estate agent?
Financial obligation and unfavorable real estate market in California will make the things even challenging.
You can sell your home during divorce in California easily and quickly.
All you need to…
Decide the Owner of Home After Divorce:
First of all, you should decide with your spouse that who will own the home. Legally, the home is split 50-50 in the cases when home was purchased after getting married with both spouses on the title or mortgage.
In some cases, the title is in one spouse’s name or the property was purchased by one partner before getting married. Therefore, the property is legally owned by one spouse unless if the other hasn’t used his/her fund to pay off mortgage at any point during the marriage.
Here come two feasible options (often recommended by the court) to choose from:
- Sell and Divide Profit
- Buy Out, in which one spouse takes full ownership of the property by paying other spouse his/her share.
Find a Realtor:
Finding a realtor specializing in divorcee’s properties can make a difference. A right one will help you find the buyer. Plus, he will assist you in paperwork, documentation, inspection and all the essential parts of the process.
Set the Price of the Home:
Make sure to set the price of your home according to the market value. If you price your home too high, you won’t find the buyer easily. Setting it on the lower rates won’t ensure you a right price for your property. Your realtor can help you fix the right asking price of your home.
Make the Decisions Jointly:
Make your spouse a part of the decision making. You will have to work together to sell your home quickly to minimize trouble or indifferences. Put everything in writing as verbal agreement can lead to hassles and delays.
Don’t let the stress of collapsed marriage thwart your decision making ability. Stay calm and composed throughout the process and work with both your spouse and realtor to sell your property quickly during divorce.