Here’s How You Can Sell Your Home in Durham while Going Through Divorce

How to Sell Your House in Durham, NC During Divorce

Planning to sell your home in Durham, North Carolina during divorce proceedings? You’re not alone. Here’s the process you should know when selling your home.

Divorce isn’t the easiest process, but it’s a must if you want to move onto the next chapter of your life with a clean slate. For those living in Durham, NC undergoing divorce, your first step is to find a competent divorce lawyer that can help ensure fair divorce proceedings on your behalf. Some divorces may be extensive and tumultuous, but many divorce proceedings can be fairly straightforward if both parties are willing to work together.
If you and your spouse own marital real estate property, there’s going to be the issue of what to do with the home now that you’re divorced. Whether you’re thinking of one of you keeping your home or selling your home in Durham during your divorce proceeding is up to you and the circumstances of your divorce. But here’s what you should know about selling your home.

Your General Options: Prenups & Possible Outcomes

There are a number of things that can happen to your real estate property during divorce proceedings. If you and your spouse signed a prenup, what’s indicated on the agreement will follow through. Another possibility is that you don’t have a prenup but can easily agree who gets what without the need to go court.
But if you don’t have an agreement and can’t agree on who gets what, North Carolina’s equitable distribution method on dividing property during divorce proceedings will be followed. This can result in a number of scenarios:

  • The spouse with primary custody of the children gets to live in the house until the children turn 18; afterward the property is sold. This is for the child’s best interests to avoid disrupting their education.
  • One spouse keeps the house and buys out the other spouse’s half. The first spouse will have to refinance the mortgage, if available, and modify the title to be the sole owner of the property.
  • One spouse keeps the house as part of their equitable share of marital assets, while the other spouse keeps other assets that makes up their own equitable share.
  • The house is sold and the proceeds are divided equitably.
    Some of these options may not be available to your case, so discuss all your feasible options with your divorce lawyer.

Listing Your Property During Divorce

Selling your Durham, NC home during divorce proceedings may be the best choice for a number of reasons. If neither you or your spouse wants to keep the home, can’t buy out the other spouse, can’t afford mortgage on their own, or the divorce proceedings require the house sold and the proceeds divided equitably, you’ll need to sell.
Many divorcing couples selling their home opt to list it on the real estate market. However, this comes with certain challenges. First, there’s deciding how to value the home. Depending on market trends, you can put a selling price below its market value for the chance to sell the house faster, or you can sell at market value or higher and wait longer. If you and your spouse can’t agree, you may have to take more time selling by consulting a real estate agent.
Next, there are the additional costs of selling a home. Out-of-pocket costs like repairs, renovations, staging, home improvement can accumulate to thousands of dollars, which means having to negotiate these costs with your ex. And if one of you is staying the on the property, they’ll be responsible for the upkeep and showing potential buyers around. And with all the other hassles of listing a property on the market, you’re looking at an additional three-month average of trying to get the property off your hands.

Sell to a Cash Homebuyer

Listing your home during a divorce can be stressful, so why not opt for the option to sell your Durham house fast and with minimal effort? Some reasons to skip the market and sell to cash homebuyers directly include:

  • No additional costs. At Jolific Homes, we buy homes as-is. You don’t have to spend on painting, landscaping, staging, or any home improvement expenses to receive an offer.
  • Fair cash offer. On the market that isn’t in your favor, you usually have to choose between accepting a lowball offer to sell fast or waiting months to sell to get a high offer.
  • Split the proceeds faster. Rather than waiting months for an offer on the market, we can provide an offer 24 hours of viewing the property. Once we close the sale, you and your spouse can distribute the proceeds faster, allowing you to move on from your divorce faster.

Ready to Sell Your Home?

Selling your marital home is a common option for divorcing couples who want to move on from their marriage. But rather than listing your property and incurring the additional costs and tasks of selling your home, you can opt to sell your home in Durham fast with a cash homebuyer.
At Jolific Homes, we buy houses in Durham, NC and help homeowners with quick and convenient sales. Contact us today to learn more about our professional homebuying services and to schedule a property viewing.

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