What’s the Best Way to Sell a House During a Divorce Settlement
Learn how to sell your home during a divorce with ease. Get expert guidance on legal, financial, and emotional steps for a smooth settlement.
Selling your house while going through a divorce is nothing short of a challenge. You need a quick and hassle-free solution to sell the house quickly. Read on to know what options you have to sell the shared house while going through a divorce.
If you are going through a divorce, you must be going through an emotional roller coaster. On top of that, if you have to sell a shared house during such a difficult situation, it can be an extra burden on you.
Now, you need a buyer who can offer you excellent value for your property and doesn’t have to go through a complicated selling process. An iBuyer or cash buyer can be the best option for you. Such a buyer offers you an easy way to sell your home.
Why Selling a Shared Home During Divorce Is a Complex Decision
A divorce puts you in a tight spot where you have to manage your emotions and also get all the everyday work done efficiently. With such mental pressure on you, selling a shared home can be difficult because it may have a lot of memories attached to it.
Besides, most of the states in the US follow the equitable distribution process, where each partner might not get an equal portion of the property (but some states, like Texas, follow community property rules). It depends on the court to decide if the partners will get property at:
- 60/40 split
- 70/30 split
- 50/50 split
Without the court’s fair order, you cannot sell the house to a potential buyer. If you live in Houston, Texas, wait for the court’s order before selling your Houston home during divorce. The Community property distribution law might have a significant impact on it.
Key Selling Options Available to Divorcing Couples
You may sell the house without repairs or after repairs, but you should know what options you have at hand.
Option | Description | Pros | Cons |
Sell on the Open Market | Traditional method via a realtor | Best market value | It may take time, and requires cooperation |
Sell to an iBuyer or Cash Buyer | Quick sale to investors or companies | Fast, less emotional strain | May get below market value |
One Spouse Buys Out the Other | One party keeps the home | Avoids public sale | Needs refinancing, legal agreement |
Co-Own Temporarily Post-Divorce | Hold the house until the market improves | Can lead to a better sale price | Risk of future disagreements |
Table 1: Available Home Selling Options to Couples Going through Divorce
Legal and Financial Considerations before Selling
Before you sell your Houston home during divorce, you should know that Texas is one of the 9 states that follow the Community Property rule. Under this rule, the court first decides the ownership of the properties. Single ownership properties go to the individual partners without division.
On the other hand, the properties with shared ownership are divided between the two partners equally. If the house you are planning to sell is solely owned by you, then you can sell it by yourself. However, if the house is jointly owned by your partner, you might have to wait for the court to decide legally of its ownership.
Family lawyers or mediators can also be involved in the mediation process, which can be a more difficult situation to handle.
Tips to Minimize Conflict during the Home Sale Process
See if the following tips can be helpful for you to resolve a conflicting situation during the divorce.
Agree on Key Decisions in Advance
If you are planning to sell the property, decide if you are selling the house without repairs or after the repair work. Decide on the pricing of the property and the agent who will handle the sale. Alternatively, you can go for a cash home buyer or an iBuyer.
Keep Communication Professional and Documented
While you agree on the terms of selling the property, keep a mediator present. Document all the agreements in a legal document for future reference. Try to keep the discussion as professional as possible. Avoid unnecessary emotional arguments during the discussion.
Handle Showings and Paperwork Separately
If you have difficulties facing each other, arrange separate sessions where you can both sign the agreement. Alternatively, you can opt for a digital signature.
How to Choose the Right Selling Method Based on Your Situation
It is better to consider a few different options before selling the house permanently. Let’s take a look at the following table.
Scenario | Recommended Methods |
High conflict | iBuyer or cash buyer for speed |
Low urgency, high equity | Traditional sale for the best price |
One wants to stay | Buyout and refinance option |
Court involvement | Mediated or court-supervised sale |
Table 2: Selling Your House: Methods as per Situation
Get in Touch With an iBuyer, Sell Your House Quickly
The right approach to sell your house would be to get in touch with an iBuyer. They can save you from a middleman or any complicated legal processes. They offer you a selling price for your home and can purchase it as is. However, you may get a bit lower property value than the market. Yet, it is better than handling the pressure of selling your property when you are going through a divorce.
