5 Benefits of Selling Your Home for Cash During a Divorce
August 18, 2021
August 18, 2021
The family home is a major asset to think about when going through a divorce. If neither spouse wants the home or can afford to buy out the other, they can list it for sale. The proceeds from the sale can then pay off the mortgage, and what’s left can be divided between the two spouses.
There are some obstacles to this process, however. If the home needs a lot of work, it’s forcing the couple to work together to make the repairs. Also, it’s possible that the home might not sell for a long time depending on its condition, location and the type of market it’s in.
If you’re currently facing a situation like this, it’s important to know that you do have options. 4 Brothers Buy Houses will buy your home for cash – in ONE week! Below are five benefits of selling your home fast in Washington DC when going through a divorce.
1. You can close on your home in ONE week.
Divorce is stressful. Selling a home is stressful. 4 Brothers Buy Houses can take some of this stress away from you! Our real estate investors in Washington DC have cash to pay for your home – they do not need financing from the bank. Because of this, we can typically close on your home in one week. Imagine being able to remove this stress from the process almost instantly!
2. Cash in on your home’s equity.
Wouldn’t it be nice to have the equity from your home to use toward your new future. You could use this money for a security deposit, relaxing vacation or to go back to school. If there’s a decent amount of equity in the home, it might be worth selling for cash. You can get this money almost instantly and have more options for the future.
3. Let go of the past – start fresh with no strings attached.
Many people have an emotional attachment to their homes, but this can make keeping the home more difficult on your heart. It might be best to sell your home fast for cash in Washington DC so that you can start healing and looking toward the future. If you have kids, they too might be more willing to accept a new normal in a new home.
4. You have a greater chance of avoiding capital gains tax.
When it comes to the IRS, there are clear benefits to being married. One of them is that you get the capital gains tax exemption, allowing you to exclude up to $500,000 of the home equity from capital gains tax. As long as you sell your home while still married, you can avoid paying this tax.
5. Avoid the stress of a traditional real estate process.
If your divorce isn’t exactly amicable, the last thing you need is to fight over realtors, home improvements, showings, offers, inspections, etc. And unfortunately, the buyers can back out at any time, or the financing can fall through, leaving you back at square one. A cash sale in Washington DC is far less risky, has few to no contingencies and is practically guaranteed.
If you are going through a divorce or separation and want to sell your home in DC, contact 4 Brothers Buy Houses. We’ll be happy to provide you with a free cash offer on your home. If you accept, we can get started with the closing paperwork.