Selling a House in a Divorce in Texas

Selling a house in a divorce in texasIf you’re going through a difficult divorce and trying to figure out what to do about your unwanted real estate, then keep reading this blog post to get our best suggestions about selling a house in a divorce in TEXAS.

Divorce can be challenging and emotional. Yet, in the midst of the difficult situation, you might be like other divorcing couples who own a house and are trying to figure out how to go about selling your house in a divorce in Texas. We have been through this scenario many times, and here are our best strategies and ideas to help you navigate the real estate portion of your asset split as simply and efficiently as possible.

Houses In Divorce Can Be Complicated

During a divorce, the two parties seek to split their assets in half. For some assets which are liquid (such as money), it’s very easy to do. For other assets, including real estate, it’s more complicated to do.  How can you just split a house in half?  You can’t!  It is one asset that derives its value from being whole;  and in most cases,  it’s not going anywhere.

Selling a House in a Divorce in Texas is a bit like wrestling
Selling a House During a Divorce can seem a bit like a wrestling match!

Of course, cutting the house down the middle isn’t an option.  So then,  if one party wants to keep the house, they have to be able to afford to keep up all the payments and expenses on one income instead of two!  Sometimes it makes more economic sense to sell the ‘asset’.

Here’s How To Split The Real Estate Asset

(I would recommend leaving the wrestling to the professionals!)  

The most equitable way to split the real estate asset is to sell it and divide the proceeds, and in Texas, since it is a “community state” all property, assets, as well as expenses incurred during the marriage, must be split 50/50 unless other agreements are agreed to by both party’s or determined by a court.  (Disclaimer:  We are not Attorneys, nor are we giving legal advice. For a more professional take on the subject visit this website.)

Don’t forget about Expenses that are being incurred on behalf of the House

The property itself might have some expenses incurred during the sales process, or there might be outstanding bills, or there might still be a partial outstanding mortgage on the property. So the two divorcing parties should strongly consider the option to just sell the property and direct their attorneys to apply the money earned from the equity to any outstanding debts.

The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (such as 50/50).

But this begs the question — just HOW DO YOU SELL THE PROPERTY?  HOW will you BOTH AGREE on all the fine details of selling a house through the traditional process – through a real estate agent?  Not to mention dealing with picky buyers who will need to come to the house to view it on a moment’s notice?  (If your head is hurting already, don’t despair, we’ve gotchya’ covered, keep reading!)

The Fastest Way of Selling A House in a Divorce in Texas?

A tale of two transactions:

First, there’s the traditional sale through a real estate agent who will LIST the PROPERTY and WAIT FOR IT TO SELL.

When it comes time to sell, most people think of selling through a real estate agent. Unfortunately, there can be a few problems with this:

  • the agent will expect the owners pay out-of-pocket to fix up the property first — but who pays for that?
  • the agent will then list the house, which can take up to 3-6 months to sell (sometimes longer!) — can either party wait that long?
  • the agent will then involve both parties in the negotiation (who will THEN have to come into AGREEMENT on the terms of the sale!) with the buyer and there is tons of paperwork to shuffle back and forth.

This is a stressful and time-consuming way to sell, and it can actually make the divorce proceedings so much more painful for everyone involved (especially if there are children).

THEN, there’s the ALL CASH BUYER – QUICK SALE Method.

(This one may actually leave you wanting to give your ‘soon-to-be EX’ a HIGH FIVE!)

Selling a house in a Divorce in Texas may lead to High Fives
This idea might leave you in the mood to give your soon to be Ex a High-Five!

Fortunately, there’s a BETTER, FASTER way to sell and that’s to sell your house to a real estate buying firm for cash, (which is what we do here at Metroplex House Buyers, LLC).   A cash buyer like ourselves can buy your house quickly, in as-is condition so as to save all the hassle and stress due to overseeing expensive repairs, or waiting and waiting for the right buyer who comes along and can actually follow through with buying your house while you wait for their lender to approve them….and what if it falls through and you have to do it all over again?  <sigh>   When you sell your house fast to Metroplex House Buyers, LLC YOU DON’T HAVE TO LIFT A FINGER TO CLEAN, DECORATE or REPAIR the property, AND the sale can be COMPLETED IN DAYS, NOT MONTHS, with very little paperwork!  “PROBLEM SOLVED!”

NO REPAIRS – NO HEADACHES – NO WAITING 

Now THAT’S the Fastest way of Selling a House in a Divorce in Texas!

As you can see, selling a house in divorce will have its challenges, but if you really just want be done with it and move on with your life, just reach out to us and tell us about the house you want to sell. We specialize in buying houses in divorce situations and we can help you expedite your divorce by buying this house from you.

Click here to enter your information or call our office at (817) 953-4700 to tell us about your property

 

 

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