In this article, I’ll discuss the facts you need to know if you want to sell your home during a divorce in Houston…
As always, I’m not an attorney (thank God!) so please look for any legal advice you might need from one of them, but I can give you the real estate expert angle…
So… divorce is not fun. And it can be so emotionally charged that one or both parties make bad decisions. Because your home is probably one of your most valuable assets, you should decide in advance to think clearly about this-away from any emotional conflict. Keep in mind this rule: just like in real estate, everything is negotiable.
#1… Use an Attorney
I know, you probably hate this as much as me. And its expensive. But there is a lot of moving parts here and if things aren’t spelled out, it will probably mean trouble later on. One way to avoid this is if everyone is getting along and its possible to sell the home before the divorce. Short of that, you will probably need an attorney to spell how and when the house is going to be sold, and how the proceeds will be split.
#2… If you live in Texas, they get half!
Texas is a community property state. If you were married when you bought the house, or got married after you bought it, then your spouse probably owns half. Now this can get complicated, and why you might need some good legal advice. A little secret here: the title company that will close the transaction knows a lot about this stuff. They have attorneys on staff and they can tell you the rules. Like me, they can’t give legal advise, but they can tell you the rules. Ask your realtor or Home Buyer who they use for a title company and who you could talk to there. You can visit the following site for more details: Community Property in Texas-Divorce.
#3…Determine if -and when- You Will Be Selling Your Home
Obviously you can’t split a home without selling it (I guess you could with a chainsaw, but that would be an example of not thinking clearly!) So you must decide if you are going to sell the home. You can decide to allow one spouse to keep the home, with possibly some other concessions going to the leaving spouse.
Also, you can decide that one spouse will stay in the house for a set time and then sell and split the proceeds. Usually this is done because children are in the home and that school district. Its very important to spell these details out in writing.
#4…Use a Realtor or Professional Home Buyer / Investor
In a divorce, there are lots of opportunities for disagreement. By using a third party to help with the sale of your home, you can have an objective professional help determine the myriad of things like selling price or which title company to use.
If you have the time to wait the 3-9 months it normally takes to market and sell a house in the Houston area, then a realtor is a good choice. You probably will have to do some repairs, pay commissions, and show the house a lot. But you should be able to net more from the sale.
But, if you need to sell the house quickly, and in its current condition, then a Home Buying Service (like the one I work for- American Home Buyer) may be a better solution. A professional Home Buyer can buy the home without all the hassles of repairs, showings and commissions. A really good Home Buyer will not need financing and can close in a matter of days if need be. Not only that, a good Home Buyer can usually come out and give you an offer the same day! Just imagine, you could have the sale “locked in” and not have to worry about it. You can even arrange the closing for whenever it’s convenient for you.
I have personally helped keep the peace in these kind of transactions and can tell you the key is good communication and separate closings! A professional like American Home Buyer will have the patience and experience to arbitrate for you. If you would like to get a Guaranteed Locked-In Cash Offer for your house in the Houston Area just contact American Home Buyer…
Give us a call anytime at 713-660-7800 or
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We’ll evaluate your house, make you a fair all-cash offer, and you can decide if selling your house to us is the best fit for you.