Can I Sell My House Before Divorce
Divorce or separation can cause many difficult discussions and choices, especially in relation to your house. But to minimise stress, you may decide to sell up before divorce, but can I do this?
Your Options When Selling Up
Your main options are to either sell or stay put. As dividing up assets is one of the most difficult parts of a divorce, figuring out who will stay in the house can make the problem worse. Or if you decide to sell your house and split the profits, there are many options. You could put it on the market, sell the property at an auction, or if you want to sell it quickly, a house buying company can snap it up, but this is usually for a lower price.
What Steps Do I Need To Do When Selling A House During Divorce or Separation?
As a priority, contacting a solicitor will determine if selling on the market is the right thing to do at the moment. After this, getting your home ready for evaluation helps you to know how much your home is worth, and then you can show your home as long as debts against the home are paid, and repairs are made to the property, you can show it to the public.
It is important to note that selling the house in this way could take some time. But if you choose to auction your property, it will go quicker as you set base price early on in the auction process so you will know what you are getting as a bare minimum.
A quick buy firm operates with a quick turnaround and can get you money in a matter of days, but it is your choice.
Selling Your House If You Have A Joint Mortgage
A joint mortgage is common, but the heartache of divorce or separation means a joint mortgage can make it a difficult situation, but there are options.
If you have a joint mortgage, one option is to buy your ex out of the house, which could make it easier to move on and free any ties to the person.
Another option would be to split the payments between the two of you, but this requires a lot of trust because your ex may stop making payments so you would have to make the payments yourself.
It is also possible to ask your ex to let you stay in the home and you take on all the payments. If you want to own the home this would be ideal, but you would have to get your ex’s name removed from the mortgage and title and make sure there is a legal note of this in your court documents. But the court may decide to make you sell the home instead, so you would need to get the home ready to sell.
It is possible to sell your house before any divorce is finalised. But there are many options to consider. It is a heartbreaking process, and while you may be desperate to make a break with the past, be sure you are getting what you deem to be a fair price.