Selling your house during divorce in Fort Worth can be extremely difficult. Emotions can be high in a divorce. Chances are that someone at some time wants to destroy the house. The reality is, eventually emotions subside and we all become adults once again.
When it comes to divorce proceedings, the courts usually guide us to being adults faster than we are ready. Keep the home in tact because if you have to sell, you want top dollar. Plus you don’t want your ex-spouse to claim you damaged the property and have your portion garnished for the momentarily emotionally gratifying deed.
Agreeing to Sell and Split
One of the common ways to split assets in a divorce, especially a house, is to put it on the market, sell it and split any equity equally among the two of you. This is common especially if there aren’t children involved. It simplifies things by eliminating a pending mortgage and if you can sell quickly, expedites the divorce process. That being said, if the housing market is slow, this could drag things on longer than desired.
Talk to a realtor. Get an honest assessment for your Fort Worth home. Find out what estimated costs will get you a higher return. Negotiate realtor fees to keep net profits as high as possible and do a market analysis so you have reasonable expectations of the sale.
Preparing the House for Sale in Fort Worth
Do your best as a couple to clean up the house and make it presentable for sale. Remember you both have a stake in the successful sale. De-clutter and make it look like a happy family lives there. Continue to mow the grass. And if you really want to make it smooth, tackle that honey-do-list you have been avoiding.
She’ll scratch her head wondering why you were incapable of doing it before and you’ll know you just increased your sale value. Funny how you can win that way sometimes.
The Next House
If you are selling the marital house and will be buying a new house, make sure to coordinate things with your realtor to ensure you time the purchase properly. Divorces get hung up in court and house sales get hung up for a million reasons. You don’t want to be tied into a new home mortgage when other components fall apart.
Be honest with lenders and start the process early. While you need to be prepared, don’t lock any rates in before you are really ready to pull the trigger. Constantly running credit for new approvals can hurt credit scores.
One Spouse Keeps The Pad
While this option is more common when children are involved (to keep them stable), it is a viable option in any divorce if parties agree. In this scenario, you decide to buy the house from your soon-to-be-ex. He or she will agree to quit their interest in the property by completing a quit claim deed. For their part, you agree to assume the mortgage and buy them out of their equity.
To buy your spouse out of the mortgage, you need to contact the lender and explain the divorce scenario and request an assumption of the loan. Lenders will more than likely underwrite you as an individual to make sure you can afford the house on your own. Make sure you document all income you have, including spousal support.
If the lender won’t let you assume the loan, you need to apply for a refinance. If interest rates are lower, this might not be a bad scenario anyway. Again, this is a loan application. Meet all income and debt obligations to qualify.
When selling your house during divorce, sometimes you may not have time to look around at what others are selling for. And sometimes you may not want to wait around or spend the money and time to fix up your property for your ideal customer. And sometimes you may not want to spend the time waiting while your real estate agent markets and sells your house.
You can bypass all these steps quickly and easily by selling your house to a local real estate investment company for cash. At TMC Property Solutions, that’s exactly what we specialize in: buying houses fast in Fort Worth and the surrounding areas.
Homeowners who simply don’t want the hassle or who don’t want to endure the long wait times but just want to sell their home quickly can do so with one phone call to (817) 550-5069 day or night.
This is perfect for homeowners who are in financial distress and cannot wait too long to sell their house IF the market will buy it. And, it’s perfect for homeowners who are facing some other crisis, such as a job transfer, divorce or death in the family. When these events happen, the last thing you want to do is think about painting the house so it’s perfect for someone else! It’s much easier to simply pick up the phone and sell your house with one phone call. TMC Property Solutions can make you a fast “all-cash” offer and close within days.
Want to sell your home quickly in Fort Worth with one phone call?
It’s easy. Call us at (817) 550-5069 or fill out the form to get more information.
If you need some assistance for selling your house during divorce in Fort Worth, give us a call at (817) 550-5069 or FILL OUT OUR ONLINE FORM.
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TMC Property Solutions is an accredited business and A+ rated members of the Fort Worth BBB and has been offering home seller solutions and buying houses all across Dallas Fort Worth since the year 2000.
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P.S. Want to learn more about the Texas Real Estate market? Visit Texas A&M Real Estate Center.