If you’re wondering about the ins and outs of selling your home during a divorce in Fort Worth TX… we’ll dive into some important info and tips for you if you are selling your home during a divorce in Fort Worth.
With over 50% of American marriages ending in divorce, many Fort Worth TX unfortunately many home owners are looking for advice about selling a home during a divorce.
A home is one of the most valuable joint assets. So it makes a lot of sense that going through a divorce and having to divide the value of the house is one of the most stressful and emotionally charged life events. Even though in most instances, it is extremely stressful, it’s important to keep a balanced perspective and to avoid making big decisions on a day that you might be feeling emotional. Here, we walk you through some helpful info and several factors to consider when facing a divorce and considering selling your property.
A Good First Step – Determine the Fair Market Value and Equity of Your Property
Knowing the Fair Market Value and Equity of your property is a good place to start. Also understanding the property’s potential future value could influence your decisions about how things get worked out. Even if one spouse purchased the property before the marriage it is likely that both spouses will have a financial interest.
You may need to get an appraisal done as a starting point for negotiations. And we could help you with determining the fair market value and equity of your home or property. We could also make suggestions regarding how to optimize the situation to meet your objectives. Depending on your situation, deciding whether to keep the home or to sell is a process. Even If the divorce is uncontested the decision may be determined by the courts. Texas is a Community Property State. In Tarrant County it is recommended that you have an attorney if possible. But some people do choose to self-litigate. Click here for helpful information on self-litigating in Tarrant County.
Determine if (and when) You Will Be Selling Your Home During Your Divorce in Fort Worth
In many divorce cases, one spouse will keep the home, buying out the departing spouse’s share.
In many cases, agreements are made where one spouse uses the house for a set period of time (this is usually used when there are children in the home), and then sold at a certain date (usually when the children reach a certain age).
When deciding whether to sell or keep the home in divorce here are some things to consider:
- If one spouse wants to keep the home, can they buy out the other person’s share and qualify to refinance independently? Can they afford the payments, taxes and upkeep on their own? (If one person decides to keep the home it will require refinancing through a lender.)
- Does the idea of keeping the home have a positive or negative emotional effect?
- Is the property in need of repairs?
- How will selling or keeping the home affect the children in the family? What steps can be taken to help them?
- Would you want to keep the home for a certain period agreed on by both parties? If so, getting advice from an attorney is recommended.
- Would selling or keeping the home create or alleviate some of the stress?
- Is it a seller’s market or a buyer’s market right now, or in other words, is it a good time to sell?
- Would selling the home allow you to pay off other debt?
Get Professional Help – Agents and Home Buyers / Investors
Selling a home is a difficult process when everything is going right.
During a divorce, you have a lot going on, and a lot to consider. You shouldn’t take on the task of selling you home yourself. You may have disagreements with your spouse about selling price or other issues. By working with a real estate professional… either a reputable agent or real estate investment firm, you’ll both have a neutral third party who can help you determine a fair selling price and handle the marketing of your home.
If you need to sell your Fort Worth house fast… reputable local real estate investment firms like Texas Best Home Buyers may be a great option. Firms like ours actually BUY HOUSES (rather than listing them like agents do)… and we pay cash and can close quickly if you need to sell this house fast.
If you can wait the time it’ll take to list it with an agent and sell it on the open market, going with a real estate agent is your best bet.
But if you can’t wait the 3-6 months it sometimes takes to sell a house in this market in Fort Worth… chat with us to see what we can offer you for your house during your divorce.
Selling Your House Fast For A Fair All-Cash Price
One option that many divorcing couples have turned to in recent years is making a quick sale to a real estate investor like Texas Best Home Buyers.
Reputable local real estate investors like us, purchase houses quickly and without stress, and the process can often take as little as seven days.
Deciding how to sell a marital home in Fort Worth doesn’t have to be as stressful as the divorce itself.
By protecting each party with a qualified real estate agent or simply jointly deciding to sell and selling fast to a real estate investment firm like Texas Best Home Buyers, and moving the process as quickly and according to an agreed upon schedule, all parties can walk away from the sale without stress.
Texas Best Homebuyer’s agents understand that every divorce situation is unique, and we truly want to be of service. If you do decide to sell, would selling your house in advance for a fair All-Cash price be of benefit or would putting your house on the market be the best choice? We can provide you with information to help you weigh your options. When you’re under the stress of getting divorced, it can be a relief to know you have an agent who has your best interest in mind.
We’re happy to give you a quote for what your property would sell for on the MLS and also to list your house for you if that is what makes the most sense for your situation. But know that we also buy houses and would be able to provide you with a quote for what we would be able to offer you in cash. If you sell to us directly the sale would happen quickly, on your terms and with no commission fees or closing costs. Which ever way you decide is best for you we aim to relieve the stress of going through a divorce by making things as easy as possible for you.