Any couple going through a divorce experiences stress. A marriage break up can be devastating and financial stress only complicates the situation. This stress is aggravated even further when it comes to possessions that were bought as a married couple and must be divided somehow. When it comes to your home in Philadelphia, this is especially true.
4 Tips We Can Give You If You Need To Sell Your Philadelphia Home During A Divorce
1. Do Not Make Decisions Based On Emotion (Like Depression, Anger, or Revenge)
It is easy to let emotions run away with you during a difficult break-up. If you are trying to decide if you want to sell or maintain the property at this point. Look at the options of keeping the house, renting the house, or selling the house objectively. If there is too much emotion involved, perhaps you should consider finding a neutral third-party advisor such as a financial planner or real-estate agent who can help you ask the right questions of yourselves. They can also provide unbiased input and advice.
2. Do Not Forget All The Extra Costs of Home Ownership
If one of the parties decided they want to keep the house, make sure to consider the expenditures associated with home ownership even if you believe that keeping the home would be best for any children involved. If one or the two of you typically took care of the bills in the past, and the one who didn’t do bills is keeping the house, they may be shocked at the additional expenses involved with home ownership. If you are the party keeping the house, make sure you have a full understanding of all the extra costs. It can be more than you want or need with one less income and one less resident in the home.
3. Check On All The Legal Ramifications And Who’s Name Is On The Title
In Philadelphia, selling a home during a divorce isn’t always straightforward. First, think about who owns the property on paper. Both parties must consent to the transaction if both names are listed on the property. The decision on what to do with the property may only be made by one person if there is only one owner, or if that person bought the land before you got married. According to DivorceNet Online, “In Pennsylvania, only the marital property will be divided. The court presumes that any property you acquire during marriage is marital property, regardless of what title says. If you want to keep an asset out of the division, then you will have to show the court why it should be characterized as non-marital property.” Because each state has its own rules governing marital property ownership, it’s critical to understand how Pennsylvania’s laws operate. It is essential to discuss your rights to the residence with your lawyer since this is a complex legal matter.
4. Make A Quick Informed Decision To Move Forward As Quickly As Possible
If you and your partner agree that you must sell the house, you should move as soon as possible. It is best to complete the sale before the divorce. With a standard sale, you’ll have to deal with open houses, home tours, and offers in addition to the associated expenditures, so you and your spouse will need to collaborate to make a choice. A difficult decision may become even more difficult if you are not on good terms.
If your home is older and in need of repair or updates, or if the current state of the economy is favorable to the buyer. you should try all in your power to sell the house before your divorce. You can read more details about selling your home after a divorce is final can be found in Divorce Magazine.
In The Event Of A Divorce, Consider The Fast Selling Option Of A Professional Home Buyer
Stress can be significantly raised if you need to do repairs, improvements, major cleaning, or landscaping before you list your home for sale. Your home may not sell if improvements and repairs are neglected. When you are trying to split a monthly mortgage payment while one or both of you are also paying rent or another mortgage, a house that isn’t selling might get expensive.
Fair offers and prompt closings are hallmarks of 717 Home Buyers’ business practices. We don’t need you as the seller to do any repairs, do any landscaping, or clean the homes we acquire. Even the items you don’t want to keep can be left behind; we’ll assist you get rid of them.
You can avoid a lot of stress and lost money by selling your home soon during a divorce by not having to pay both your mortgage and your taxes or insurance. Selling quickly can also enable both parties to qualify for a new mortgage more quickly and move on with their lives. We can also assist if the entire divorce scenario has resulted in a foreclosure issue.
If working with a seasoned property buyer like 717 Home Buyers has piqued your interest as a possible solution during this difficult time, you can learn more about how we operate at 717 Home Buyers by clicking here. Please consider reading our Google reviews here or watching some videos of satisfied customers here. For a no-obligation cash offer on your house, give us a call. Our phone number is 717-639-2164 .