If you’re wondering about the ins and outs of selling your home during a divorce in Central Mississippi MS… we’ll dive into the steps and things to look out for in this article.
With over 50% of American marriages ending in divorce, many Central Mississippi MS residents are looking or advice for selling a home during a divorce. Selling a house is stressful enough; add a divorce and emotions are high, so it just gets even more difficult.
A home is one of the most valuable joint assets, and obviously cannot be divided without first liquidating. While a divorce is one of the most stressful and emotionally charged life events, it’s important to remain rational. There are several factors to consider when facing a divorce in a real estate market that has yet to rebound from the housing bubble burst.
Determine if (and when) You Will Be Selling Your Home During Your Divorce in Central Mississippi
In many divorce cases, one spouse will keep the home, buying out the departing spouse’s share. If your spouse is buying you out, they ideally will get a new mortgage and pay off the one that has your name on it. If not, this mortgage remains on your credit and may cause you not to qualify for a mortgage for your next home.
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). Again, the status of that mortgage loan and impact on the credit of both parties is an important discussion to have with your attorney.
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 more issues 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. Working together on the largest investment you shareBy 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. Make sure the agent has experience working with clients in this type of transaction. Your privacy and confidentiality is important for negotiating in your best interest.
If you need to sell your Central Mississippi house fast… reputable local real estate investment firms like IM, LLC 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. This path removes the stress of a long marketing period, inspection repairs and waiting for the buyer’s mortgage approval to be complete.
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 3-9 months it sometimes takes to sell a house in this market in Central Mississippi… chat with us to see what we can offer you for your house during your divorce.
Set (and stick to) a Timeline
It’s important, when selling your Central Mississippi house during a divorce to keep a timeline.
You should put your home for sale in advance. Set firm closing dates, moving dates and times, and coordinate which spouse will be handling the sale (or talking to the real estate agent). Make sure that each of these agreements are in writing, and negotiate penalties for breaching the agreements. I have seen a spouse allow a property to go into foreclosure to to hurt the other’s credit. Hint: It hurt both of their credit!
This helps ensure a smooth, surprise free home sale.
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 IM, LLC. This removes the stress of preparing the home for sale, the stress of preparing the home for showing in it’s best light, and making repairs or price adjustments after a home inspection. In most cases the investor buyer will pay the closing costs and make an “as is” offer that relieves you of the stress of marketing to retail 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 Central Mississippi 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 IM, LLC, and moving the process as quickly and according to an agreed upon schedule, all parties can walk away from the sale without stress.
If you want to discuss your situation with your divorce and see if we can help you save time, reduce stress, and get out of this situation fast…
Give us a call anytime at 601-401-6965 or
fill out the form on this website today! >>
We’ll evaluate your house, make you a fair all-cash offer, and you can decide if selling your house to us is the best fit for you. We’re here for you, just reach out and lets chat.