When a couple decides to move forward with a divorce, there are always a multitude of challenging issues and obstacles that need to be faced and overcome – especially in the event that children are involved. They’re stuck in the middle – are not in a condition to selling or buying a new home.
While the handling of custody matters and the attempt to undergo an amicable parting of ways are usually the chief concerns, it should be noted that the sale of your home should be and will be a major consideration in the event that you and partner proceed with a divorce.
Currently, for couples and/or home owners planning a split, there are three most common situations that can play out: a) one partner chooses to stay in the home and buy out their ex’s half, b) one person decides to stay in the house for a certain amount of time, or c) the home is put up for sale
Should I stay or should I go?
Although it may seem like a smart move to keep the home in an effort to avoid having to gamble with the emotional security of the children (by uprooting them), there are likely to be sticking points. Considering the fact that finances likely played a role in the dissolution of your marriage, it might not be the most prudent decision to try to keep the home and the payments and costs that are likely to come along with. Further, are you confident in your ability to buy a homeny and then refinance yourself without the benefit of a working partner?
On paper, a better option might seem to be both parties staying in the home and working toward an amicable co-existence. But, in reality, the fact is that this scenario is likely to lead to a dysfunctional living situation in which stress, anxiety, distrust and malice are the rulers of the roost. Not to mention the fact that this solution will call for you to have to deal sternly in the event that an ex is not able to continue to make payments.
Foreclose, divorce call for a clean break…
The overall number of foreclosures in the US is on the decline, and that is because struggling home owners are starting to pay more attention to what their true options are. In lieu of carrying the burden of not being able to make payments and having to worry about when the Notice of Foreclosure properties might arrive, home owners are taking matters into their own hands to alleviate the stress and start fresh with a new chapter in their lives. Short sales are one way, in particular, in which those facing foreclosure are able to better manage their failed attempt at home ownership.
Divorce is so similar to foreclosure in that, in many cases, what is most needed is the opportunity for both parties involved to have a chance at a clean slate. Severing your ties with your partner in an unhappy marriage (just like severing your ties to the deed within an unmanageable mortgage) is almost always the best way to proceed, because it allows you the chance to pick up the pieces and move forward with a new plan of action; or, if nothing else, to not be tied down and obligated under the weight of an untenable and bitter situation.
Always go with a pro when selling homes for cash
Optimally, when divorcing parties need to sell a house fast – and considering the current housing market conditions, which could make it hard to move forward financially with a new life – the best thing to do is to go for a reputable company that deals in buy a home ny for cash. A company with a proven track record in selling homes for cash is likely going to be able to do so in a short period of time; meaning that you can more quickly turn the page and move onward and upward.
And, no matter how difficult it was to endure your marriage, you will likely find that divvying up the cash money with your ex – after selling your house fast to a real estate investor – could help both parties to come away from the situation with improved cordiality and accordance; which will also help both parties involved to move forward with some money in their pocket and a better (second) chance at happiness.