First and foremost, we’re sorry you have to go through this. Divorce is one of the most stressful events of a person’s life. We know you didn’t make this decision lightly, but now you’re ready to handle the details of a permanent separation. Since you’re reading this blog, you’re probably leaning toward selling your home and starting over somewhere new. But you want to be able to tie up this loose end—without losing your sanity. In this roundup blog, we’ll cover some things to think about as you go through the steps of selling a house during a divorce and why a cash buyer might be able to ease the burden.
- How to Sell a House During a Divorce
- Benefits of Selling a House for Cash During a Divorce
- Frequently Asked Questions About Selling a House Before, During, & After a Divorce
How to Sell a House During a Divorce
Selling your home because you’re getting a divorce is a good way to make a fresh start. While that doesn’t mean it’s an easy process, it can be a bit more peaceful with the right mindset.
Step 1: Deal with Your Emotions First
Let’s be real. There is a lot going on here that has nothing to do with real estate. Give yourself a little time to deal with the emotions of going through a divorce. If you have kids, they must be the number one priority. You need to decide who will stay in the home with them until the property is sold.
You may both want to leave, but the fact is the home will look better to buyers with someone living there. Keep in mind that you’re not only stressing about the divorce, you’re worrying about finding a new place to live and all the anxiety that comes with moving. If there’s any way for at least one of you to separate these life events by a few weeks or months, you should consider it.
Step 2: Decide How to Sell the House
Once you are ready to move on from the home, decide how you want to sell it. Do you want to list it on your own? That might be more stress than you can handle. What about working with a real estate agent? Be sure to find one with divorce experience. What about a wholesaler or cash
buyer? You may not get as much money for the home, but you’ll be done with the whole thing a lot quicker.
Each choice has advantages, disadvantages, and an estimated timeline for selling. A real estate agent does most of the work for you, but it may take some time for your house to sell. A wholesaler or cash buyer can usually close on your home quicker, but you probably won’t get paid what it would be worth on the market. If you decide to work with someone to sell your home, do your homework. Vet your prospects, ask for references, and look for examples of their work. You don’t need to be taken advantage of and add even more stress.
Step 3: Settle on a Price for Your Home
Next, figure out your asking price. If you’re going to list your home, you’ll need to do research on the state of the market, the number of competitors, as well as the value and condition of your home. If you’re working with a real estate agent, get their opinion on a starting price. Part of their job is having this sort of expertise.
Talk with your spouse about the lowest offer you’re willing to accept if that’s what it takes to get the house sold. If you think your realtor (or spouse) is way off on the asking price, gather second opinions from other real estate experts. Before you list the home, you want to make sure you are comfortable with the profit you expect to receive or that you come to terms with the loss you expect to take.
Step 4: Prepare to Show the House
There are two main decisions to make when it comes to showing your house. Who’s doing the prep work and where is the money coming from? A variety of tasks need to be done before a home is listed such as repairs, painting, cleaning, and staging. You must figure out how you’re going to divide up this work.
If you choose to hire outside help, you should decide who’s going to pay for the services. Make these decisions ahead of time—before you get into the thick of showings and offers. Taking care of these issues early will help ease the stress of the changes you’re going through, as well as surprises that could pop up along the way.
Step 5: Review the Offers
When you start to get offers on your house, you and your spouse will need to agree on one that meets both of your needs. You may want to ask your real estate agent, as well as your attorney, for advice on how to move forward, especially if you and your spouse disagree.
Remember: The more time you spend talking with your attorney about selling your home (or anything for that matter), the more you will have to pay them. That’s why it’s important for you and your spouse to get on the same page from the start about the asking price and what kind of offers you will consider. Best-case scenario? You both keep your emotions in check, agree on an offer, enjoy a timely and profitable sale, and move on.
Step 6: Split the Proceeds
If you and your spouse make a profit from the sale of your home, you’ll need to check how your state handles property division when it comes to the profits. This should be a subject with which your attorney is familiar.
In general, the escrow company should distribute funds after taking care of obligations like the mortgage, taxes, and sales-related expenses. If one of you has been making mortgage payments, the amount to be divided between you may have to be adjusted to reflect the reduction of principal and increase in equity. If there was a prenuptial agreement, the division of profit from the house should be laid out in detail. But, in most cases without a prenup, a home is considered a joint asset.
Benefits of Selling a House for Cash During a Divorce
Here’s what our cash home buying experts say about why a cash sale is a practical solution when selling your house during a divorce.
1. Financial Clarity
“Divorce brings profound changes, and selling your shared home often becomes a necessary step in the separation process. While emotionally challenging, selling your house during divorce can provide the financial clarity needed to begin your new chapter.
During divorce proceedings, your home—likely your biggest shared asset—can become a source of tension and ongoing connection between you and your soon-to-be ex-spouse. Many couples find themselves struggling with decisions about repairs, pricing, and the traditional home-selling process while already dealing with the stress of separation.
This is where considering a cash sale to a local investor can make a significant difference. Selling your home for cash offers several advantages during divorce:
First, it eliminates the need for costly and time-consuming repairs or upgrades. Traditional home sales often require improvements to maximize market value, which can lead to disagreements about who should pay for what. A cash sale allows you to sell the house as-is, avoiding potentially contentious discussions about home improvements.
Speed is another crucial benefit. At New Again Houses, we pride ourselves in being able to close much faster than traditional sales, sometimes in as little as a week. This quick timeline can help both parties achieve closure and move forward with their separate lives sooner. It also reduces the period during which you need to coordinate with your soon-to-be ex-spouse about home-related decisions.
Financial clarity is perhaps the most significant advantage. A fair and fast cash offer provides a clear, definite number that can be factored into your divorce settlement. There’s no uncertainty about future price reductions or lengthy negotiations with potential buyers. This certainty can help facilitate a smoother division of assets and allow both parties to make informed decisions about their future housing arrangements.
While selling a home during a divorce is never easy, choosing a simplified selling process with New Again Houses can reduce stress during an already challenging time. A cash sale to us offers a clear path forward, allowing both parties to close this chapter and begin focusing on their individual futures.”
2. No Realtors or Showings
“Going through a divorce is such a difficult situation as it is, so selling your house for cash can help take one item off an already stressed person. Not having to deal with realtors, showings, and multiple offers can save a person so much stress and headache.”
3. Less Stress
“Going through a divorce is already a difficult and stressful experience, and trying to navigate the complexities of selling a house can add to this stress. When you sell your house directly to a cash buyer, you can avoid or minimize many of the stressors associated with traditional methods of selling a house. By selling directly to a cash buyer, you won’t have to worry about cleaning and staging your house or keeping it in pristine condition for open houses and showings. You can also avoid the stress of negotiating with multiple buyers, waiting for offers, and dealing with the uncertainty of when the house will actually be sold.”
4. Less Contention
“Divorce can often be difficult and contentious, so selling a house for cash clears out a lot of potential points of argument. There is no need to litigate which party is responsible for a costly repair, or who has to pay the realtor’s commission. A quick cash sale can keep the divorce process moving along, and the cash can be easily divided.”
5. Avoid Repairs
“You can sell a property before, after, or during a divorce, and the best option may be different for each couple. A number of factors can impact the best timing, including housing market conditions, how amicable your split is, and the financial needs of each spouse. If the house needs repair, selling the house as is for a cash offer is the best way to avoid additional stress.”
6. Flexibility
“One of the most positive reasons to sell your house for a cash offer during a divorce is the amount of flexibility that you have. Often, we get stuck in the rut of doing things how they are typically done or how society has always done them. The normal process of selling a house has stipulations of what you can and can’t do. The normal process of using a realtor has so many third parties involved which complicates and slows things down. It is of course in good intention that these parties are involved but often they can complicate the matter. On average, there are 10 parties involved during a traditional real estate transaction, multiply that by 3 if you need to sell due to divorce. Selling your home while you’re going through a divorce can eliminate 80% of people involved unnecessarily. Selling your home for cash allows you the ability to focus on what truly matters, and not have to worry about the house.”
7. Get the Most Cash Possible
“Selling for cash is a practical solution because getting the most cash possible is a key component in these situations. In these stressful situations, it is best to have a buyer that can work with both parties to get you cash for the property, eliminating the worry of trying to decide on which party will pay the closing costs with an attorney (we handle closing costs!) and
eliminating the costs of cleaning out the property to sell (we buy AS-IS). Finally, we can work with the attorney to allocate the sale proceeds based on instructions from the divorce proceedings! We will take the stress out of selling a property to allow each party to move forward with dignity!”
8. Streamlined Process
“Selling property for cash during a divorce offers several advantages, including a faster and more efficient process, reduced complexity, and greater certainty. Without the need for repairs, staging, or waiting for buyers to secure financing, cash sales streamline the process and help avoid potential conflicts. This allows for a quicker and clearer division of assets, minimizing costs and stress. The certainty of a cash deal helps avoid delays or complications, providing emotional closure and a more straightforward resolution for both parties involved.”
9. Quick & Straightforward
“Selling your house for cash during a divorce is a practical solution for both parties because it is a quick and straightforward way to liquidate the asset and provides immediate access to the funds. The quick sale of your house helps to reduce stress during an already stressful life-changing event. Cash sales are purchased as-is and eliminate the headache of negotiations and pesky repairs. The whole process is much simpler and can help eliminate a huge divide amongst couples during an emotional and challenging time.”
10. Efficient & Fair
“Selling a house for cash can be a practical solution for couples going through a divorce for several reasons:
Simplifying Division of Property: Divorce often requires the division of shared assets, including real estate. Selling these assets for cash allows both parties to equally split the proceeds without the complexity of one spouse keeping a specific item and the other spouse being compensated in other ways.
Liquidity: Cash offers immediate liquidity, which can be especially important for individuals who need financial stability after the divorce. It provides the opportunity to meet short-term financial needs, such as housing or living expenses.
Equalizing Asset Value: Some assets may have differing values depending on their market conditions (e.g., the real estate market). Selling your house for cash allows for an equalization of value, ensuring that both spouses receive an equitable share of the estate.
Easier Relocation: Divorce often results in the need for one or both spouses to relocate. Selling large or immovable assets, like the family home, makes it easier to downsize or move to a new area without the burden of maintaining a property that may no longer serve their needs.
Avoiding Long-Term Maintenance: Owning property, especially real estate, can require ongoing maintenance and expenses, which may be difficult to manage post-divorce. Selling these assets eliminates the need for one spouse to handle the ongoing costs.
Overall, selling for cash provides an efficient, fair, and straightforward way to resolve asset division, reducing the potential for conflict while offering both parties a clear path forward financially.”
Frequently Asked Questions About Selling a House Before, During, & After a Divorce
Can I Sell My House During a Divorce?
Yes, you can sell your house during a divorce if both parties agree. However, ensure clear communication about dividing the proceeds and consider legal guidance to avoid conflicts.
Do I Have to Sell My House in a Divorce?
Not necessarily. Options include one party buying out the other’s share or continuing co-ownership. Selling is common to fairly divide assets but depends on your situation and the divorce agreement.
What is a court-ordered sale of a house in a divorce?
A court-ordered sale occurs when a judge mandates that a marital home be sold as part of the divorce settlement. This typically happens if the divorcing parties cannot agree on the disposition of the property or if selling the home is necessary to fairly divide assets. Proceeds from the sale are divided based on state laws or the divorce agreement.
Is It Better to Sell a House Before or After Divorce?
Selling before a divorce can simplify the division of assets, while waiting until after provides clarity about finances. The decision depends on market conditions and personal circumstances.
Looking to Sell Your House Fast Before, During, or After a Divorce? Contact New Again Houses Today!
Divorce is a stressful process. So is selling your home and moving to a new one. Working with a cash buyer during a divorce means you can be done with your house in a matter of days. You don’t even have to enter the home again if you don’t want to. You can sell the house for cash, use the money to pay for the divorce, and get on with your life. If you’re interested in a fair offer, a fast closing, and a fresh start, contact New Again Houses today for the simplest way to sell your home.