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Sell Home Due to Divorce
June 30, 2022
The Best Time to Sell Your Capitol Heights MD House in a Divorce
If you’re currently going through a divorce in Maryland, you have a lot on your mind. Selling the family home is probably at the forefront, as this is likely your biggest asset. It might also hold sentimental value to both you and your ex. Deciding whether to keep or sell the home is a big decision that only you and your ex can make.
Due to financial, legal or personal reasons, many couples going through divorce feel it’s best to sell their house. This doesn’t necessarily make the divorce process easier, but it offers a clean slate for both sides. Let’s cover the case for selling your house before vs after the divorce, as well as the benefits to working with cash buyers in Capitol Heights MD.
Should I Sell My House Before the Divorce, or Should I Wait?
There are pros and cons to selling your house prior to the divorce, as well as pros and cons to waiting. Only you and your ex can make this decision, and you may have to work with a mediator to come to a mutual agreement. But we can help you look at things from a practical and financial point of view.
Selling before the divorce
If you decide to sell your house before the divorce is final, you set yourself up for an easier departure. When the divorce date finally arrives, you’ll already have taken care of this marital asset, allowing you and your ex to go your separate ways. You won’t have to return to litigation to discuss the house and what repairs need to be made.
And, if you decide to sell your house right now, you can take advantage of a great market. Maryland sellers are in control, making it easier to sell your house without contingencies. You’ll likely get several offers on your home, so you and your ex can get more out of the sale. It’s hard to say what the market will be like in another year or two.
Selling after the divorce
For some people, it makes sense to sell their house after the divorce is final. If you and your spouse are having a hard time agreeing on things, it might be best to wait. You can go through the divorce process first, and give yourself time to accept the separation.
Plus, keeping the home allows you to pay down the mortgage, and it gives you a place to live while the divorce is taking place. This can be especially beneficial to families with children, as they try to maintain as much normalcy as possible. Hopefully by the time the divorce is final, you and your ex will be on better terms and able to agree on more in regards to selling the house.
How Selling Your Capitol Heights House for Cash Can Help During a Divorce
Part of what makes selling a house during a divorce so difficult is the tension. You and your spouse may disagree on things just for the sake of it – which realtor to hire, what repairs to make, what offers to accept, etc. But, if you’re not planning on keeping the house, it’s best to sell as soon as you are ready to work with your ex – and vice versa.
Selling for cash is a great solution for many couples going through a divorce. 4 Brothers Buy Houses will pay cash for your house. We do not need financing through a bank, which allows us to complete the sale in about two weeks. We also waive inspections, appraisals and most closing costs. Our cash buyers in Capitol Heights MD will make you an attractive cash offer, and if you both accept, we can start the closing paperwork right away.
Because you’ll receive the full cash offer, you and your ex can split the profits right down the middle. The goal is to have enough to pay off the loan on your home, as well as something to start your new life with. To get a free cash offer on your Maryland property, contact 4 Brothers Buy Houses today.
August 18, 2021
5 Benefits of Selling Your Home for Cash During a Divorce
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.