Should I Sell My House In the Divorce? Part 2
If you are in the process of getting a divorce, one of your first logistical questions was probably whether you and your spouse should sell the family home.
If you are currently asking yourself, “How can I sell my home fast in Raleigh, NC?” feel free to visit our Instant Cash Offer page. However, if you are still deciding and would like more information, this two-part article explores your main options.
If you have not yet read Part 1, we recommend starting there.
Option 2: Buying Out Your Spouse
Though the majority of couples decide to sell their house, there are still many who prefer to buy out their spouse and keep the home they once shared. One pro associated with this decision is not uprooting small children or potentially changing school districts because of a move.
If you are the one staying in the home, make sure you examine the situation realistically. All too often people assume they can afford the home with just their one income and that later proves unrealistic. If you think there is any chance you will need to sell, it is best to do it while still married and eligible for a larger capital gains exemption.
Option 3: Co-Owning the Home
This is by far the least common option, since divorcing couples usually do not wish to continue sharing property. However, there are certain times it may be necessary. If one person wants to buy out his or her spouse but cannot do so immediately, some couples choose to co-own the home while working out a gradual buyout.
A couple may also decide that both people want to move out, but they want to keep their home as a rental property. This is fairly rare; however, it does happen every now and then.
One last motive for co-owning is when a couple is in a bad place financially and neither person can afford to move out. This is typically a difficult and emotionally unpleasant experience that most people avoid at all costs.
Ready to Sell Your Home Fast?
If you are part of the 61 percent of divorcing couples who want a fresh start, why wait? Sell the old home that’s been tarnished with negative memories, pocket your portion of the cash, and use it to start over new.
If you are saying, “Yes, it sounds like an excellent idea to sell my house fast in Raleigh, NC!” you should know that you don’t have to deal with the hassle, wait time, realtor commissions, or closing fees associated with the traditional real estate market.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.