Pave a new life path by selling home in divorce!
It is a sad fact of life, however, most of the couples who are married end up experiencing the incompatible difference and this eventually ends in the decision to get a divorce. The divorce in itself can be sufficiently stressful but there are also a lot of other things that you will have to take into consideration when you get a divorce like what to do with the asset, for instance, your house.
Selling home in divorce is something that you will have to address so as to make sure that both the parties can get on with their lives as quickly as possible, which is why it is essential to get the property sold as fast as it can be sold.
Selling home in divorce is just one of the many things that you will have to deal with and the faster you can get this over with the less of a burden the task will be. Some couples who go through a divorce make the decision to go down the normal route of getting a real estate agent on board to deal with the sale of the house. However, this can result in huge delays when you are selling home in divorce and this can also affect the overall stress associated with the divorce as it would mean dragging on the matters for months or perhaps years.
Who is the one to get the house in the divorce?
One of the chief questions that the couples who are getting a divorce have is of who will get the house in the divorce? How you and your partner or spouse split your assets can be decided without the need of a solicitor, however, this depends on how easily the both of you can discuss the financial problems.
If you and your soon to be ex-spouse is nowhere near settling on the financial matters then you might have to apply for the court to get financial remedies. It is a financial remedy order that allows one to challenge another in court for a lump sum amount, ownership of the property or to set up monthly payments for living arrangements and child care.
Though the house may be in the name of one spouse, the family court usually discounts this when making the decision on who gets the house in the divorce. When the financial remedy order has been imposed then the court makes the decision on who gets the property on the following bases:
- If there are any children that are below the age of 18 then their needs are taken into consideration and who they will live with after the divorce.
- The age of both the spouses.
- Marriage’s length or time period.
- The annual income of both the spouses and their responsibilities during the period of marriage.
- Which assets and finances both the spouses contributed to the marriage.
Is there any way for me for selling home in divorce or before it?
If you want to sell your property prior to the time divorce has been finalized either because of financial issues or both the parties want to get on with their lives as soon as possible then there are many ways you and your soon to be ex-spouse can divide up the money, including the property:
- Both the parties can agree on the decision to sell the house and move out. The proceeds of the sale are divided as per an agreement in place when you purchased the property and can be put towards purchasing another house for both of you.
- One partner agrees with the decision to buy the other one out. Your house will be valued and if you have the amount to cover half of the sum then you can purchase out the share of your partner and take complete ownership of the house.
Selling home in divorce is beneficial as it provides you and your partner with more time to negotiate the terms and you both will get a large payout to start with your new lives. However, the markets of property are unpredictable so you may end up waiting for a long time for your house to sell, which you can avoid by selling it to 5dayssold and getting the cash in your hand or account on the 5th day.
Mortgage loans and payments
One thing that you might not have taken into consideration when selling home in divorce is the mortgage. Even if you move out of the family house, you will have to keep paying the mortgage. If your name is there on the contract then you are the one who is liable for the entire debt, even if it is a joint mortgage with others. If you and your spouse have a joint mortgage then you both agreed to be liable equally for the debt until it gets paid off.
It is vital to reach out to your mortgage lender as soon as possible to tell them that you and your partner are going for a divorce, especially if you think that you may have issues keeping up with the repayments. It is also essential to establish your property rights after the divorce in order to prevent your spouse from selling home in divorce, mortgaging or transferring the house without your knowledge.
Rights you have over your property after divorce
It is quite normal for one spouse to move out of the house during the divorce period so as to reduce any tension. This does not mean that he or she forfeits the rights to the occupancy or ownership of the house. Both the partners legally have house rights until the divorce is finalized or until the time the financial settlement has been made.
Rights over the house ascertain that neither of the partners can be forced to vacate the house even if they do not legally own it or are not named on its mortgage. If you and your spouse own the property, then you have the right to:
- Live in your house unless an order from the court says otherwise.
- Be notified of any action of repossession that is taken by the mortgage lender.
- In case you move out you can enable the court to permit you to move back in.
- Pay the house’s mortgage and avoid any repossession if the person named on the contract stops making the payments.
If your partner owns the property in their name only, you can secure your rights over the property after divorce by registering them with the Land Registry. It is important to do this to make sure that your spouse can’t transfer, sell or mortgage the house without your consent.
Getting assistance from 5dayssold with selling home in divorce
While divorce is never going to be an easy affair, you can somewhat ease the strain by getting help with selling home in divorce. Selling your home in divorce quickly can turn out to be a real challenge in the present market situation, which is why some couples who get a divorce look for the other alternatives. With the right assistance, you can sell your property without any delay following your divorce, which will make it a lot easier to draw a line and get on with your life.
We at 5dayssold, can provide you with the assistance that you need when you are going through a divorce as we can get you a cash offer on your property after you provide us with the details and your house would be sold in as less as 5 days as oppose to the six months to a year that it takes when you choose to go through it with a real estate agent. You can also cease the opportunity to avoid any common house sale fees like the valuation as well as solicitor fees, all of which can prove to be pricey, specifically when you already have to cope with other costs linked to your divorce.
You do not need to possess equity in your house to benefit from our help, as we can still provide help and our service does not involve any cost. All you have to do is fill out the form online or simply reach out to us on the given number to interact with our house sale specialists for more advice.
We sell your house in three easy steps
- Reach out to us or fill the form online to give us information on the state of your house.
- Our professional will pay a visit to the location and assess its value.
- We will make the cash offer, which you can either accept or deny if accepted your house will be sold and you will have cash in your hand within 5 days.
We purchase any house for cash irrespective of its condition and pay all seller fees with the aim to complete a sale within 5 days.
Reach out to us because we are more than happy to help you move on with your life after a divorce.
