Selling Your House While Divorcing in Kingsport TN

If you’re going through a difficult divorce and trying to figure out what to do about your unwanted real estate, then keep reading this blog post to give you our best suggestions about selling your house while divorcing in Kingsport TN

Divorce can be challenging and emotional. Yet, in the midst of the difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house while divorcing in Kingsport TN. Here are our best strategies and ideas to help you navigate the real estate portion of your divorce as carefully and efficiently as possible.

Houses In Divorce Can Be Complicated

During a divorce, the two parties seek to split their assets in half. For some assets are liquid (such as money), it’s very easy to do. For other assets, including real estate, it’s much harder to do because how do you split a house in half? It’s one asset that derives its value from being whole, and it’s usually a structure built on a plot of land, so it’s not going anywhere.

Since cutting the house down the middle isn’t an option, should one party get it or the other? And maybe in some divorces, one party might be invited to take the house only if they can pay for it (which is a massive expense a time that people rarely want to incur such expenses).

Here’s How To Split The Real Estate Asset

The best way to split the real estate asset is to sell it:

The property itself might have some expenses incurred during the sales process, or there might be outstanding bills, or there might still be a partial outstanding mortgage on the property. So the two divorcing parties should probably just sell the property and direct their attorneys to apply the money earned from the equity to any outstanding debts.

The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (such as 50/50).

But this begs the question — how do you sell the property?

The Fastest Way To Sell A Divorce House

When it comes time to sell, most people think of selling through a real estate agent. Unfortunately there’s a few problems with this:

  • the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
  • the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
  • the agent will then involve both parties in the negotiation with the buyer and there is 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 and that’s to sell your house to a real estate buying firm (which is what we do here at Awesome Cash Buyers Co.). The real estate buying firm will buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). 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.

If you’re going through divorce and want to just be done with it and move on with your life, just reach out to us and tell us about the house you want to sell. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.

Click here to enter your information or call our office at 423-797-6009 to tell us about your property

 

 

Blaine Dartez

Hey there, I’m Blaine, the owner of Awesome Wholesalers! Thanks for checking us out. I love every aspect of real estate, but one major reason I started buying homes is that I saw that sometimes people were getting into tough situations with their home… facing foreclosure, can’t make repairs, getting behind on payments, and more. I’ve seen people struggle with squatters, or go through the process of losing homes up close and personal. Bottom line: I know that sometimes bad things happen to good people. I got into real estate because I wanted to offer a service where I can help homeowners in my community. My passion and goal with this company is to get people out of burdensome properties, or helping another local investor build their portfolio. Besides all that, I enjoy seeing a run-down home flipped and made beautiful, and become a benefit to a neighborhood. Now, I get to run my own business and spend more time with my family and help homeowners like you that are facing tough situations.

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