If you’re going through a divorce and you’re trying to sell a house, you might be wondering, “what if my house won’t sell during a divorce in Cowlitz County?” That’s a good question to ask so be sure to read this blog post and we’ll share our best answer with you…
A divorce can be a challenging situation: it’s complicated, it’s expensive, it’s time-consuming, and emotions are running high. And in all that effort you also need to sell your house so that you can split the value of any equity in the house and put it all behind you. But what if your house doesn’t sell? If you’re going through a divorce and wondering, “what if my house won’t sell during a divorce in Cowlitz County?” then here’s what to do…
What Are The Reasons Your House Doesn’t Sell?
There is no legal requirement that you won’t receive a divorce until your home sells however at time the market depending on what it’s doing at the time whether its up or down could cause you to be in a position where a home won’t sell making it very difficult for spouses to go their separate ways. Are you facing this type of situation? Facing divorce and home won’t sell or at the end of your divorce and can’t sell your house? Unfortunately, there are many reasons your house might not sell. Some of the reasons are related to the normal market conditions (and they might be present even if you weren’t going through a divorce). But there might be additional reasons that your house doesn’t sell — for example, maybe you have a complicated divorce or there’s a lot of conflict between each party in the divorce and this makes it too difficult for the buyer to negotiate on the sale of the property. Either way, if you can’t sell your home during divorce you may have to get creative. There are many options some more appealing than others.
If your home won’t sell an option is a buyout. A spouse always has the option of keeping it if they can qualify to refinance the mortgage on their income alone. However, the spouse who doesn’t keep the house is entitled to half its equity – the difference between the mortgage and the homes appraised value, so the spouse keeping the home would have to be able to qualify for a mortgage large enough to cover not only the existing loan but also half the homes equity which they would then use to buy the spouse.
You and your spouse could also elect to co-own the home after your divorce long enough to wait out the market or whatever situation may be happening and possibly rent it out to a third party that way its, not any further expense out of your pocket and hopefully paying for itself or worst case close to it. However…
This Delay Adds To The Problem!
If the house is not selling as quickly as you’d like, this just adds to the problem and it ultimately ends up costing you more — in bills and taxes and mortgage payments, as well as in additional attorney fees.
Simply put, you might be hoping to get a high price for your house but your divorce could actually be scaring people away and costing you money.
Fortunately, there’s another option…
Strategy For Divorce Houses: Sell To A House-Buying Company
Here’s an effective strategy for people who are trying to sell their divorce house — instead of listing the house with an agent, sell the house directly to a real estate buying firm like us here at Bloc Redevelopment LLc. As real estate buyers, we may not always be able to pay the market price for a house… but many divorcing people realize that holding out for a higher price can actually be a costly strategy once you factor in the cost of repairing the property, the carrying costs while you wait months for an agent to find a buyer, and then the agent’s commission (sometimes thousands of dollars).
If you’re wondering, “what if my house won’t sell during a divorce in Cowlitz County?” and if you want to sell your house fast, a real estate buying firm like ours is the fastest and simplest choice to get the property out from the middle of your divorce, give you money for it, and allow you to wrap up this portion of the divorce proceedings.