Divorce is a difficult process. Last year, 40% to 50% of marriages ended in divorce, and the rate is significantly greater for successive marriages. If you’re going through a divorce right now, you’re undoubtedly wondering what happens to the house in a divorce.
Let’s discuss the common concerns surrounding what happens to the house in a divorce.
Who Keeps The Property?
You and your soon-to-be-former partner will need to conclude this matter. Either one of you will own the property, or neither will own it. Because both parties wish to keep the property after the divorce, most divorces will involve the sale of the property. Usually, the couple will reach a consensus to sell the property and divide the revenues. However, the process of selling a house can take a very long time at times. Sometimes a house listed with an agent doesn’t get many offers. If you sell straight to TMC Property Solutions, you could perhaps save yourself some time and save some difficulties.
Why Sell Direct?
Traditional home purchasers in Weatherford often take longer to close on a transaction than professional home buyers. A traditional home typically requires the buyer to obtain pre-approval from the bank. However, can take some time. You need the time required for the mortgage underwriting process and the time required for the property inspection. In Texas, the realtor commission charge is 6%. If you sell your home for $300,000, you will be responsible for paying $18,000 in commissions alone!
Purchasing Homes As-Is
Most professional home buyers in Weatherford will usually buy houses in their existing condition. If you sell the property, you do not need to be concerned about making any repairs before the closing. There’s no need to concern yourself about other unexpected costs that may arise. Some businesses buy that property as-is. This means they don’t require inspections before purchasing your home.
Lower Risk Transactions
It’s a really simple process when you sell your house to a home-buying company specializing in real estate. They will outline each stage of the procedure. They will also have simplified, clear, straightforward contracts to purchase the property in its current condition. You will also be less vulnerable to legal dangers due to this. You won’t have to be concerned about the buyer discovering something about the home or the area you did not disclose.
Most traditional real estate contracts include a clause for the buyer’s protection. This clause allows the buyer to file a lawsuit against the seller if they believe they were not provided with all of the information promised. Homebuyers who are professionals are already aware of the condition of the property. They are willing to accept the risk nonetheless.
No Showings
You won’t have to worry about going through a roller coaster of emotions if you choose to sell your house to a professional home buyer. No annoying phone calls asking whether you may show your home to potential buyers. There’s no need to worry about your house before leaving for work if there’s a showing while you’re away.
You do not need to be concerned about the possibility of contacting a buyer’s agent or their clients and having to deal with them asking questions that you really shouldn’t answer anyway. You also won’t have to worry about potential buyers fighting with you over the furnishings you keep and the pieces you sell off, as this won’t happen.
Move Out Time
Investors are the primary motivation for seasoned buyers of residential property. They do not plan to move into the house until the transaction is finalized. Most buyers of homes will provide you with a window of time after the closing. This will allow you to move out of the house at your own pace. This is quite beneficial, especially considering the little time allotted for the closing process. Additionally, there is a possibility that you won’t even be required to clean the house before you depart. You need only pack the belongings, including furniture and personal goods, that you want to keep and leave the rest.
SUMMARY
Going through a divorce is tough and stressful, especially when dealing with marital assets. The biggest question in mind for the couple is what happens to the house in a divorce. The court can compel you and your spouse to put the house on the market, pay off the mortgage and any home equity loans, and then share the remaining assets as part of the equitable division of marital property.
Need to sell your house due to divorce? TMC Property Solutions can assist you with whatever reason you desire to sell. Contact us immediately if you need to get rid of a problem property. We are willing to buy houses in any condition.
If we can’t help you, we probably know someone who can, so give us a call today.
Get your no-obligation fair offer by answering a few questions on our short form here, and we’ll be in touch to explain your options and how we can help you; or call (817) 550-5069 Opt#1 24/7.
TMC Property Solutions is a veteran-owned and family-run business and has been helping families across the DFW Metroplex since the year 2000, “buying houses fast, “providing solutions that work. We are an accredited business, and A+ rated member of the Fort Worth BBB. Check out our Fort Worth BBB reviews as well. Please tell us how we’re doing and your experience working with us, and write us a Google Review! We strive to improve our services with every customer transaction. Read what others say about our services HERE. Thank you.
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