During a divorce, one of the most difficult steps is dividing up the assets between both parties. A house is one of the most complicated assets to split because it is large, stays in one place, and can be expensive to maintain. Unless one spouse is willing and able to take over the mortgage of the house, the best option is to sell the house and allocate the money accordingly. Here are some tips on how to sell your house while divorcing in Massachusetts.
In a Divorce Can I Be Forced to Sell My House?
If the two parties cannot agree to the terms of the divorce and it is necessary to go to trial, the court can mandate property orders to sell or transfer real estate. In fact, this is actually the default way to divide a home during a divorce. Most houses are required to be sold immediately. In Massachusetts, the current case law gives family court judges the right to order a deferred sale of the residence. Typically, this is for the wellbeing of the children. The party not residing in the home will still have interest in the house. This situation is a rare occurrence. Here is more information about laws in Massachusetts regarding families and children in a divorce.
Liquidating the Asset
Without or without a formal trial, the easiest way to divide a real estate asset is to sell it and distribute the money. The house could be allocated to one party, but that would involve one person buying their share of the house from the other. This can be expensive and decisions such as this one can get messy when coming to a conclusion about the overall value of the house. Selling the house will allow the value to be settled by a third party. There are several ways to sell your home in Massachusetts during a divorce.
Selling Your House with a Realtor
When most think of selling a home, they will revert to hiring a real estate agent because they think that is the easiest way to sell. The reality is that using a real estate agent can often come with extra fees and efforts to sell your house. Some problems that might emerge when using a realtor include:
- Several parties will be involved in this process as paperwork has to be passed between the buyer, both parties involved in the divorce, and the real estate company
- The house may take 3-6 months to sell, which is a significant amount of time for someone wanting to liquidate assets in order to finalize a divorce
- Many out-of-pocket expenses might arise as minor repairs will need to be made to fix up the property before selling
- Someone will need to clean and prepare the house for all showings
In the end, choosing to sell a home using a real estate agent may not be cost effective and can include a large time commitment. This can create an undesirable situation when faced with a divorce.
Selling Your House for Cash
Going through the process of a divorce can be challenging and emotional. Facing a decision such as how to sell your home can be overwhelming. Most of the time, you want a solution that will be quick and easy and won’t cost you a lot of money in extra fees. You also want to sell your home in a way that won’t lead to added stress or tension between the parties involved.
Selling your home to a professional home buyer will allow you liquidate this asset quickly, avoiding the hassle of having to deal with the real estate market. If you choose to sell your home for cash, it will also minimize the number of parties involved in the process. Often, the professional home buyer will make an offer on the house as-is. After the parties accept, the closing will happen soon thereafter. Very little paperwork or preparation effort is needed to sell your house for cash.
If you are faced with a divorce and want to sell your house quickly to proceed with the settlement, reach out to Pavel Buys Houses. We will work hard to make the process simple for both parties involved. We have years of experience buying homes in the state of Massachusetts. We will use our knowledge to help you navigate this circumstance and come up with the best solution possible. Want a fair, no-obligation cash offer today? Call or text us at 781-309-7085 to discuss your situation.