Any couple going through a divorce experiences stress. A marriage break up can be devastating, and the financial stress only makes the situation worse. This is especially true when it comes to possessions that were bought as a married couple and must be divided somehow, such as your home in Phoenix.
4 Tips We Can Give You If You Need To Sell Your Phoenix Home During A Divorce
1. Do Not Make Decisions Based On Emotion (Like Depression, Anger, or Revenge)
It is easy to let emotions dictate your actions during a difficult break-up, but if you’re trying to make the level-headed decision of whether to sell or keep the property, you need to look at all three options–keeping the house, renting it out, or selling it–objectively. If there’s too much emotion attached to the decision making process, consider finding a neutral third party such as a financial planner or real-estate agent who can help ask yourselves tough questions and provide unbiased input and advice.
2. Do Not Forget All The Extra Costs of Home Ownership
Before one party decides they want to keep the house in case of divorce, it’s important to take into account the future expenses associated with home ownership- even if you think it would be best for any children involved. If usually only one person took care of the bills, and now that same person wants to keep the house, they may not realize all of the extra costs that come along with being a homeowner. Maintaining the home can be costly, especially if you’re used to having two incomes and now there is only one. Make sure you understand all of the extra costs before making the decision to keep the house.
3. Check On All The Legal Ramifications And Who’s Name Is On The Title
In Phoenix, selling a home during a divorce can be complicated. First, think about who owns the property on paper. Both parties must agree 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, “Under Arizona’s community property laws, all assets and debts a couple acquires during marriage belong equally to both spouses. Unlike some community property states, Arizona does not require the division of marital property in divorce to be exactly equal, but it must be fair and will usually be approximately equal”. Certain states have different laws when it comes to marital property ownership. Because of this, if you live in Arizona, it is crucial that you understand how the state’s laws work. You should speak to a lawyer about your rights to the house as soon as possible since this issue can be quite complicated from a legal standpoint.
4. Make A Quick Informed Decision To Move Forward As Quickly As Possible
If you and your partner have decided to sell the house, it is best to do so before progressing with the divorce. This will save you from having to deal with additional stressors, such as open houses, home tours, and offers. You and your spouse will need to be able collaboratively in order make choices that are best for both of you during this difficult time. A difficult decision may become even more difficult if you’re not on good terms. If your home is in need of repair or updates, or if the current state of the economy is favorable to buyers, you should try 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
If you need to do repairs, improvements, major cleaning, or landscaping before listing your home for sale but are stressed about the cost, LRT Offers can help. We pride ourselves on making fair offers and prompt closings so that you don’t have to keep shouldering the weight of an unsold property.
By selling your home as-is to us, you can save money by avoiding paying for repairs, landscaping, or cleaning. Even the items you don’t want to keep can be left behind; we’ll assist you get rid of them. Selling your home quickly during a divorce helps avoid having to pay both your mortgage and taxes or insurance. Selling fast can also enable both parties to qualify for a new mortgage 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 LRT Offers has piqued your interest as a possible solution during this difficult time, you can learn more about how we operate at LRT Offers by clicking here. Please consider reading our Google reviews here or reviews from our satisfied customers here. For a free, no-obligation cash offer on your house, give us a call. Our phone number is 602-362-4742.