Staying safe from making costly housing mistakes during and after the divorce
can leave you in a spot of bother, especially when we look at the
financial stress they bring along. But one of the major challenges apart
from money is the house. What will you do with the house you share with
your spouse? That can be the final emotional nail in the coffin when
you are already going through the emotional turmoil of a divorce. This
is the moment when you need a real estate agent who trustworthy, calm,
level headed and who will give to the point advice. Please know we are
here for you and have worked with many couples going through the stress
Should you be living in the house after the divorce?
Can you afford to keep the house or should you sell it? Will you need
refinancing help or is it financially smarter for you to go ahead and
sell it? Questions like these are surely going to pop up in your
mind. And the answer lies within you as well. We’ll help you get answer
to all these questions so that you can make the best decision you.
Sell the house and divide the proceeds
can make the entire process fairly easy. From helping you to avoid
making the common mistakes while selling an home, to helping you sell
your home for the best price possible, we will be there for you every
step of the way. But you need to be pretty careful at this moment to
keep your financial affairs managed which will include – expenses
related to the after-selling process, determining how the split is going
to take place between you two, and more.
It is worth mentioning
here that the split does not necessarily have to be a 50-50 one as it
will depend upon the divorce settlement, the property laws and the
original down payment made by you.
Buy out your spouse
want to give up on your house? Well, go ahead but don’t forget to
consider your monthly obligations after the divorce. Now you’ve got only
one salary to pay off the expenses. Plus, in case you got the loan on
behalf of two salaries, then it can be quite a challenge to get the home
Let your spouse buy you out
The third option you have
is to let them buy you out. Go ahead and start a new life in new
surroundings. But, don’t forget that you are still the original
co-signer liable for the mortgage in case the home is not refinanced.
And, this can cause problems in your eligibility for a new mortgage in
the future when you plan to buy a new home.
Retain the joint ownership
last option you are left with is to postpone the financial decision for
now and retain joint ownership for some time. As this is a temporary
situation, you won’t have any immediate worries, but you must always
keep an eye on the tax considerations. These may change from time to
time until the home sale is complete.
Now that you and your
partner have decided to sell the property, working together with the
help of a real estate professional can be your
best option. Remember that you must keep your differences aside and sign
the listing contract and be actively involved throughout the
Once you have sold your house, you can use
the proceeds to buy a new home. What can you afford? Do you need a
refinancing option? Is buying a new home within your current budget? If
no, then how much can you afford to spend? You and only you are the best
judge of that! But, most definitely we can be the ones who can help you
find the best options that within your reach. Call, text, email or
complete the form below today for your free no obligation consultation
of all your options.
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