The process of going through a divorce can be mentally and emotionally challenging. While saying farewell to fond memories and a familiar lifestyle is jarring, there are also logistical concerns at play. Often, selling your home for cash is the only way that you can redeem some of the home’s value, without a long and strenuous process. At Atlantic Shores Home Buyers, our team can help you to progress to a new stage with the appropriate funding. Read on to learn more about selling your home during a divorce, while avoiding unnecessary stress and frustration.
What Are Your Options?
During a divorce, determining what to do with your married home may be the last item on your agenda. But, making this decision in a timely manner is imperative. As homeowners, there are a few options at your disposal. It’s important to consider these options, while remembering that selling your home for cash is the quickest and simplest recourse.
1. Buying the Other Out
When one person intends to continue living in the home, buying the other person out might make sense. The person who plans to maintain (or gain) ownership would pay the other a large sum of money. While this idea may appear to be the most convenient option, there are plenty of logistical obstacles at play. Namely, is there enough money to pursue this avenue? As of now, the answer may be yes. But, will they have enough money for mortgage payments and property taxes down the line? Will cutting off one stream of income change this affect this option? Taking on the full brunt of these fees rather than selling your home for cash could set the stage for an eventual foreclosure.
2. One Person Maintains Ownership
If the home was always owned solely by one family member, then keeping this arrangement might make sense. But, there are also some considerations to make here. If children are remaining in the home, then maintaining the home might make sense. But, if the rest of the family is moving out, then the utility of the home could decrease. Without a spouse, and potentially children, you may not benefit as much from having, say, a large basement for storage. The once-filled pantry may dwindle down to a small supply of canned goods. Without children playing in the backyard, the large outdoor space might be superfluous.
Keeping the home as a rental property could be a temporary fix, without letting the house go altogether. However, renting to untrustworthy tenants could be a dangerous situation. This new responsibility, on top of the already busy period during a divorce, could greatly complicate your life.
3. Selling Your Home for Cash and Splitting the Profit
Regardless of the income situation among family members, financial proceedings during a divorce are tricky. And, the home that you and your partner lived in for years is presumably the most valuable asset. So, to properly (and fairly) liquidate your assets, you should sell your house for cash.
Selling Your Home for Cash: Immediate and Lucrative
Instead of pursuing this risky route, you should consider the prospect of selling your home for cash. Selling your home to a professional home buyer lifts the stress entirely off of your shoulders– a welcome change during this emotional and busy time. Professional home buyers are accustomed to this sale process, and will purchase your home quickly and easily. Rather than a drawn-out ordeal, selling your home for cash means that you can dictate the pace of the transaction. The sale agent will come to the property, inspect it, and based on the market, make an offer. Once you have an offer, you can then choose to either sell the home immediately, or take a few days to prepare.
Best of all, opting to sell your home for cash helps you to expedite the process. Now, you’ll have the money (and the time) to realistically relocate, without compromising for a cheap apartment.
Selling Your Home to a Realtor: Time-Consuming, and Costly
At first, the prospect of earning a higher value for your home through a realtor-facilitated sale will be appealing. This option will allow you to earn the highest amount, and fund a new home or apartment. If you’ve lived in the home for a long time, though, there could be expensive (and unprofitable) repairs. The messy interior with an extensive collection of possessions will be a nightmare to dig through. Worst of all, an unreliable real estate agent might botch the sale, or push the calendar back. Soon enough, you’ll realize that you can’t sell your Long Island home as easily as you thought.
Opt for the Less Emotionally Stressful Choice
Selling your home for cash is a pressure-free process. In a time where everyone will be forcing you to make difficult decisions with haste, selling your home for cash simplifies everything. You can take what is normally a difficult, time-consuming process, and wrap it up immediately. With newfound free time, you can then address the myriad other issues at hand, without risking your living situation. This will give you the freedom you need to pay any lawyer fees, and also cover any settlements with your spouse. This is especially true for out of state home sales.
At Atlantic Shores Home Buyers, we have built a business based around buying homes for cash. We have learned the intricacies of purchasing homes on Long Island for cash without inconveniencing homeowners. You can save the money that you’d be spending on realtor costs, and allocate it toward a more purposeful expense. If you’re in the thick of a divorce, contact us about the possibility of selling your home. We’ll offer a fair price without expecting any work on your part. Selling your home for cash is lucrative, effortless, and keeps your momentum going.