Divorce happens, and it’s usually unpleasant, to say the least. If you’re going through a divorce, you certainly don’t want to do anything to add to the anguish and inconvenience, especially when it comes to the process of splitting up your assets. Finding someone who is in the market to buy a house in San Antonio – in this case, your house – may be one of your goals at this time. Who is the best person to buy your house? How can you sell it quickly and easily?
You have several options if you need to sell your house quickly in a divorce and some are definitely faster than others. But wouldn’t it be great if you could sell your house fast for cash? That way, you would be able to expedite the whole unpleasant process and have some cash on hand to help clear debt or pay attorney’s fees. But, first, before you decide, it’s always a good idea to consider all your main options.
Selling Your House During a Divorce: Key Considerations
A home is often one of the most valuable joint assets in a marriage, but it cannot be divided without first liquidating. When a divorce is underway, determining if and when you will sell the house becomes crucial. In many cases, one spouse keeps the home, buying out the departing spouse’s share. Other times, the house is sold outright, and the proceeds are divided.
Additionally, agreements are sometimes made where one spouse uses the house for a set period (often when children are involved), and then the house is sold at a later date. However, many couples prefer to sell the house as quickly as possible to avoid ongoing financial ties.
Three Options for Selling Your House Quickly During a Divorce
Go Through a Real Estate Agent
You could always take the traditional route and go through a real estate agent. If you do, you won’t have to worry about showing your house and drawing up contracts and the myriad of other details because the agent will take care of all this for you. This is definitely a viable option, but there are some significant drawbacks.
First, you’ll have to get the house fixed up and ready to show, which will cost you. Even if you just need minor repairs and a good cleaning, all these things cost money and take time. Your house will likely have to be shown multiple times, and when you do get a buyer, you’ll have to wait for them to get financing.
Also, when you accept a buyer’s offer, the closing date generally won’t be for another 30 to 60 days. The average time for this whole process is generally a minimum of three months. Does this fit into your schedule? How fast would you like to have everything done so that you can move on?
Do a Short Sale
Another option is a short sale, which means someone is buying a house for less than the mortgage. A short sale involves an agreement with your bank or mortgage company that will allow the sale of the house for less than is owed on it. This route can go quickly if your bank has already agreed to the short sale and you have the help of someone who knows about the short sale process, but it, too, has drawbacks.
For one thing, it can negatively affect your credit. Credit-wise, the best you can do in a short sale is to get a “Not Paid as Agreed” notation on your credit report. But that’s a lot better than having to suffer a foreclosure, which can ruin your credit for seven years. Still, if you can arrange a short-sale agreement, you’ll soon be free and clear of the property.
Short sales have certain steps and not everyone is familar with how to do all of the steps and which steps to do when. Without short sale experience, these types of sales can take many months to complete.
Use a Company Buying Houses for Cash in San Antonio
Another option – and maybe the best one if you need to sell your house quickly in a divorce – is to try a San Antonio cash home buyer. If you do this, you can expedite the whole process, get a fair value for your house, and avoid much of a headache.
The whole process of selling your home to such a company – for a fair cash offer – can take as little as seven days – just one week, not months. Again, the professional home buyer buying a house in San Antonio pays cash, which means you don’t have to sit around waiting for a retail buyer to get a loan.
Also, you won’t have to pay for any repairs to your house before you can sell it. The company will make and pay for all needed repairs. In addition, the reputable companies pay all closing costs. This is definitely the quickest way to sell a house in a divorce and is one way to remove some of the stress that the divorce is putting on you. Even if you tried selling your house before and had trouble selling during your divorce, a house buying company can still buy your house.
When you are looking to sell your house quickly in a divorce, make sure you choose a local cash home buyer that has good reviews and can clearly explain the entire process to you. Avoid any newer investors or buyers who can’t pay you cash and allow you to move forward quickly.
Get Professional Help During a Divorce Home Sale
Selling a house can be challenging even under the best circumstances. During a divorce, when emotions run high, it’s essential to get professional help. Whether you choose a real estate agent or a reputable cash home buyer, having a neutral third party involved can help reduce stress and make the process smoother. A real estate professional can help you determine a fair price for your home, navigate disagreements between you and your spouse, and handle the marketing and negotiations.
Community Property State in Texas
Texas is a community property state, which means that assets acquired during the marriage are generally considered joint property and subject to division between spouses in the event of a divorce. When it comes to selling a house, both parties typically have equal rights to the property, unless stated otherwise in a prenuptial or postnuptial agreement. However, this doesn’t mean that the property will be split 50/50. The court conducts an analysis to determine what constitutes a “just and right” division based on the specific circumstances of the case.
Determining Property Ownership
Before selling your house, it’s crucial to establish clear ownership rights. This involves determining whether the property is classified as separate or community property. Separate property usually refers to assets one spouse owned before the marriage or acquired through means like inheritance or gifts. Community property includes assets obtained during the marriage.
Division of Assets: Not Always 50/50
While Texas follows community property rules, this doesn’t mean assets are divided evenly. The division is meant to be just and right, which may lead to a disproportionate split based on numerous factors. Rather than dividing each asset individually, the total value of all marital assets and liabilities is calculated. The court then looks to divide this total value. In many cases, one spouse will be awarded the house (if they want and can afford to keep it), while the other spouse receives assets of similar value to balance the division.
Set a Timeline and Stick to It
When selling your house during a divorce, it’s important to establish a clear timeline for the sale. Set firm deadlines for when the house will be listed, when showings will take place, and when closing will occur. If you’re working with an agent, agree on who will handle communication with the realtor and negotiate any penalties for missed deadlines or delays. Having everything in writing can help prevent surprises and ensure a smoother sale.
Selling Your House Fast for Cash
Many divorcing couples in San Antonio are choosing to sell their house quickly to real estate investors like Sell My San Antonio House. Selling your home for cash can significantly speed up the process, allowing you to avoid months of waiting and reduce stress. In most cases, the sale can be completed in as little as a week.
By working with a local cash buyer, you can also choose a closing date that works for you, avoid costly repairs, and eliminate the need for multiple showings. For those looking to move on from their marriage and their house quickly, this option provides a fast and fair solution.
Selling a house during a divorce in San Antonio doesn’t have to be as stressful as the divorce itself. By understanding your options and working with experienced professionals, you can sell your house quickly and move forward with your life. Whether you choose to list with a real estate agent or work with a cash home buyer, having a clear plan and timeline in place will help ensure a smooth, stress-free sale.
If you need to sell your house quickly in a divorce in San Antonio, you just might consider a cash home buyer in San Antonio. It’s easy, It’s fast. You’ll get a fair cash offer.