Sell a Home During Divorce
If you are going through a divorce, splitting the property assets is often difficult and time consuming. We offer a streamlined method for you to convert your home into cash for both parties.
What To Do With a House During a Divorce
When you are in the middle of a divorce, the last thing you need or want is more hassles and stress. The work involved in diving up your assets and what to do with the house is a daunting task. You probably never imagined that you would have to sell your home, but that day is here and it’s time to make the best of the inevitable.
Chances are that you have a lot of questions about what you are going to do with the house now that you and your spouse are divorcing.
Every situation is different, but here are some common questions and answers.
Questions To Consider
1. Who Gets the House After a Divorce?
There are many different answers to this question and sometimes it depends on which state you live in, as well as if there are any prenuptial agreements.
If there is a prenup, it is usually spelled out who keeps the house or what is going to happen to the house.
Maryland is an equitable distribution state, which means that the court does not have to split the sale of the house 50/50, but the judge will consider all the facts and they decide what is fair, even if that means only one person gets to keep the house.
Your divorce lawyer can help explain your unique situation and what the possibilities are.
2. If the Divorce is Amicable, Can We Sell the House and Split the Money?
You should always double-check with your lawyer but in some cases, if both parties wish to sell the house and simply split any profit, this can be done. If you are technically still married when you sell then you might be able to benefit from the capital gains exemptions on a house that is worth less than $500,000.
Speak to your accountant and lawyer about your options.
3. My Spouse Put a Restraining Order so The House Can’t be Sold. What Can I do?
In some instances, one party has the judge sign an order so that the house can’t be sold until the divorce is complete. You will need to speak to your lawyer about your rights in this case.
4. Can We Sell the Home to an Investor Prior to the Divorce?
Yes, you can. In fact, many couples who are going through an amicable divorce take advantage of tax savings that can happen by selling the home to an investor quickly before divorce proceedings have started.
Consult with your lawyer and tax attorney or accountant as to whether this option would be of the most benefit to both parties.
5. Do I Need to Start Selling Items and Getting Ready to Move Quickly?
Not necessarily. If you and your spouse have decided to sell before the divorce, you can actually leave some items or leave everything behind and sell your home as-is. This allows you both to have a fresh start and makes moving easier.
Speak with your lawyer about the estimated wait time and when they believe you will need to move. Some divorces take a few months and others a few years.
Selling a Home During a Divorce is Not Always Simple
There are fees associated with selling your home and these need to be dealt with first, such as HOA fees, lines of credit, or even listing fees. This is why it is so important to speak to your lawyer and consult with the house selling professionals at Carrol Home Buyers.
We help clients sort through the paperwork and details that go along with the sale of a home during or after a divorce. If you are interested in talking about selling to an investor or selling your home as-is, the experts at Carroll Home Buyers can answer your questions and find you, well-vetted buyers.
Whether you are filing for divorce soon or you are in the middle of a divorce, we are ready to help.
"I didn't know what to expect, but these are just honest, hardworking people and I trusted them immediately."
– Robert H.
Westminster, MD
"Selling a home is a big deal. They made each step incredibly easy on me. They even helped me move a few things out of the house and into my new place!"
– Kathy R.
Eldersburg, MD
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Carroll Home Buyers
(410) 936-4989
Sykesville, MD 21784