Divorce isn’t easy, but selling your home doesn’t have to make it more difficult. Hi, Jenevieve here with JLUX Homes Realty Group. and I want to talk about your selling options when you’re going through a divorce.
Before we dive in, I just wanted to say that if this applies to you, I’m sorry that you’re going
through this. Deciding what to do with your home can be one of the most challenging parts of a
divorce. Not only is the situation often emotionally charged by the circumstances, but I realize that the home itself can carry both sentimental and monetary value. It can feel like you’re alone in an impossible situation, however, I’m here to help. There are three options to consider when selling because of a divorce…
The first option is selling your home together and splitting the equity you built. Try to think of your home as just a part of your overall worth. A home appraiser can tell you its perceived market value, and an attorney can help you understand what percentage you own. Once you’re ready, I can prepare a preliminary estimated closing statement and walk both of you through what’s available to divide after closing costs. The second option is where one party buys out the other, which usually comes with the efinancing of the original mortgage loan. To make sure you are eligible for this, you’ll want to speak with a mortgage lender as soon as possible to help you understand your options. I can also work with the person not buying the house to help them find new accommodations that fit their budget.
Your final option is to continue to own the house together, then sell it at a later date. This is a bit of an unusual move, but not unheard of. It requires continuing trust between the divorcing couple to ensure mortgage payments are made. Before choosing this option, you’ll want to talk to an attorney, as well as a tax specialist with divorce expertise.
If you or someone you know is going through a divorce, I’m here to serve. Reach out to us for a complimentary consultation to guide you through all your options and next steps. And feel free
to call or text me directly at (817) 823-7761. Thank you so much for considering JLUX Homes for your needs. We’re here to support you through this trying time and all seasons of life.