It goes without saying that divorce is never easy, especially when there are children and a sizeable amount of assets involved. Considering the anguish and inconvenience of the situation, you don’t want to complicate matters further when splitting up the assets the two of you have accumulated over the years. One item of contention may be the home the two of you have lived in all those years. In many divorce cases, couples often decide to sell the home and split the profits rather than argue over who keeps it and continues paying on the mortgage. Consequently, you have several options where this is concerned. We can help you simplify the house selling process.
Do a Short Sale
When someone purchases a home for less than the original mortgage, this is commonly known as a “short sale.” In order to do a short sale, you and your lender or mortgage company must agree to sell the home for less than what is currently owed on it. While this is another way to sell your home quickly and is faster than working with a real estate agent or broker, it has its disadvantages.
First and most importantly, a short sale will negatively impact your credit. When you do a short sale, there will usually be a “Not Paid as Agreed” notation placed on your credit report. However, this is still better than going through a foreclosure and ruining your credit for the next 7 years. With a short sale, you’ll be free and clear of your home quickly as a result. It helps you get the money faster and makes the financial aspects of your divorce resolved faster.
Sell It Through a Real Estate Agent
Selling your home the traditional way by going through a real estate agent or broker is another option to consider. However, this could turn out to be a lengthy process and may take up to 6 months to sell your home. If you’re going through a divorce and want to sell the home quickly, you should probably avoid this option. Plus, the closing costs and realtor’s commissions will cut into your profits of the sale.
Sell Your Home to Homeinc
Probably your best option when you need to sell your home quickly as part of a divorce settlement is to work with Homeinc and let us purchase the home for cash. We can close in 5 to 7 days or if you prefer, you set your closing day. Furthermore, you won’t have to pay any commissions or closing costs. To learn more about selling your home to us, call us at 888.850.2636 today.