Divorce is hardly easy. There’s emotional, mental, and sometimes physical baggage that you have to carry while needing to stay logical for the decisions you have to make throughout the divorce process.
You’re here because you either have a Lilburn house you can’t seem to sell immediately, and it’s taking a huge toll as time goes by, you know someone who is experiencing such, or you’re about to file for divorce, and you’re wondering what happens to your home.
Either way, we know how nice it would be to get all the help you need. This article is here to hopefully ease your frustrations and what you can do to sell your marital house once and for all and in the fastest way possible.
Reasons Why Homes Don’t Sell During a Divorce
If you’re still about to file for divorce, it would be best to know the common reasons that delay the sale of a home, so you and your spouse can better prepare for an alternative.
- Spouse Refuses to Sell the House
If the home was bought after you got married, then the property is most likely conjugal. This means that both you and your spouse have to sign off on anything related to your home. If you divorce, it doesn’t always mean that all your property has to be let go. You can either decide to sell it, buy it out to either of you, or donate it to either of you.
- Cold Market
When it isn’t a seller’s market, generally, it will be more difficult for homeowners and real estate professionals to sell a home. Don’t get us wrong; this doesn’t happen to divorcees only. However, a divorce and a cold market simultaneously don’t make things easier.
- Delays in Court Order
Once a divorce petition is filed, the Standard Family Law Restraining Order automatically goes into effect. This order requires that a court order be present before your marital Lilburn house is sold. To obtain a court order, you and your spouse will have to sign an agreement which your lawyers will facilitate.
Consequences of Not Selling Your House During Divorce
The question of when it would be best to sell a marital home is very common in a divorce. Some people recommend waiting until after the divorce, while others say that the best time would be before the divorce is finalized.
Some divorcing couples put off the sale until a later time just because of many other more important things to do. While every couple has a different situation, we don’t highly recommend putting off the sale of a marital home until a later time. This is because of the following reasons:
- More Holding Costs
Holding costs include your maintenance costs, mortgage, property tax, home insurance, and other fixed monthly expenses. If you keep your home longer, you’ll have to continue paying for these holding costs — costs that you could have allocated for your hefty divorce fees.
- More Difficult to Decide How to Maintain the House
Imagine if you’re divorced, and the house is still under both of your names. Who will take responsibility for cleaning and maintaining the house? If neither of you will, and the home’s condition deteriorates, the value of the property will also decrease.
- Longer Time to Close A Deal and Agree Because Both Spouses Will Be Physically Separated
After divorce, you and your ex-spouse will each have your own lives already. This also means you’re physically away from each other all the time, making it difficult to make decisions and sign any documents immediately.
- Trickier to Divide the Proceeds
One of the advantages of selling your home during a divorce is that the court can decide on how to split the proceeds for you. There’s not going to be any room for any aggressive argument because the court will have the last say.
- High Possibility of Defaulting in Mortgage
Who pays for the mortgage after the divorce? Unless you both sign an agreement that you both will continue paying the mortgage after divorce, there’s a huge possibility that you’ll mortgage will default.
Plus, we know an easy way to sell your home fast, even during a divorce, and it’s without all the fuss (appraisal, concessions, etc.). So why wait after the divorce to sell your home?
How to Sell Your Home Quickly During Divorce
When selling a property, the only thing that may come into your mind is hiring a broker, posting your listing online, waiting for interested buyers, negotiating, and waiting until someone says, “I’m going to buy your property!”
However, this isn’t the only way to sell your marital home. The example above is what you call selling on the market. There’s also what we call selling off the market, which means that you don’t list your property on the local Multiple Listing Service (MLS). The sale is more private, more direct, and potentially cheaper for sellers.
This is what Spire Property Solutions offers. You won’t have to find a real estate agent because we will buy your Lilburn house from you directly and as is!
Did we mention that we pay in cash?
You can use the cash for your divorce fees which are often very expensive.
If you want to know more about this service, please get in touch with (678) 318 -1801 or send us a message through the form below. We are looking forward to helping you out!