Getting a divorce – need to sell my house fast?
LITTLEBIT asked:
I am in the process of filing for a divorce, I need to sell my house fast. I tried the real estate agent (No Offers) The price is compatable to the comps in the neighbourhood. I’v had offers from investors to pay out the mortgage, but no extras. I have about eighty thousand in equity. I just want somethng to start over with. any suggestions.
sell it to your trusted family member for a dollar but still be a secret owner then they will have time to sell it. split the dollar with your wife 50 50
If you priced the home compatible to the other homes in the neighborhood, then you need to lower the price to a point where someone else will be getting a good deal. That will sell it.
You may want to talk to your attorney first, though. When you’re going thru a divorce, sometimes all large sales must be approved by both parties or by the judge before a sale can commence. You wouldn’t want your soon to be ex to be able to get the bulk of the money because he/she convinces the judge that you’re trying to hide the profits.
Good luck to you.
You will not be able to sell you house without the consent of your spouse. They would need to sign a Quitclaim deed which relases their rights and ownership of the property. Without that, you will have to split the proceeds with the spouse. When selling a house and going through a divorce at the same time, things get complicated because everything is dependent on what the judge will allow. This slows the process of selling the home because you need court documents in place with the Purchase Contract,Amendments and Addendums,loan requirements will change as well. Can you qualify for a loan on your own.
in this market? comps really do not mean anything on for sale, what has been sold in the last year? the price etc? with the credit crunch many buyers can not qualify for a loan, while other listing to the media are not going to pay close to asking price in this market
so it becomes how much of the 80K equity are you willing to give up to sell the house and move on
In most states that house is also the house of your spouse. If you run off and try to sell it to keep the money or keep it out of their hands you could find yourself owing all of your proceeds and then some to the ex-spouse. If you sell it below market value , you could still be responsible for the extra to your spouse. Judges get mad when you try and work around them. My ex found that out. Now he has no house, no money and no car. All because he tried to be shifty and it bit him in the @ss. So much for him starting over huh.
And in this market there is no cheap good way to sell a house. Not without losing equity. Best bet is to wait and take an offer that works….after you have okayed the sale with a judge. It might very well be within your right to sell the house if it was always yours from the start. But not asking will get your hand spanked so find out first. Sorry.
please speak with your attorney first
the best and fastest way to sell your house and get equity out of it may be the accelerated market method of auction. this method is not just for people in trouble and can work very well for people like you.
I am a real estate broker in new york state and most likely couldnt help you personally (unless you are in new york) but i can point you in the right direction. feel free to give me a call at 1-866-543-3711 or send me an email and i will point you in the right direction.
feel free to check out the link below and look at the selling portion.