Today, I want to talk about a sensitive, real-world issue that many people face, yet few are willing to talk about; divorce. If you're going through a divorce, I want you to know you're not alone. I wanted to make this video to help you navigate one of the most challenging aspects of this difficult time: what to do with your home.
Deciding what to do with your home can be overwhelming, both emotionally and financially. That's why I'm here to guide you through your options and help you make the best decision for you and your family. There are three options to consider when selling your home due to divorce:
The first option is selling your home together and splitting the equity you built. This option can be a great way to avoid future complications and move on as soon as possible. I can prepare a preliminary estimated closing statement and walk 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 refinancing the original mortgage loan. To ensure you're 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. Holding the home allows you to make residual income by renting the property while it accrues equity. It requires continuing trust between the divorcing couple to ensure mortgage payments are made. Before choosing this option, please talk to talk to an attorney and a tax specialist with divorce expertise. If you or someone you know is going through a divorce, remember that you don't have to navigate the process alone.
JLUX Homes Realty Group has has helped countless families in similar situations, and we're committed to making the process as smooth and stress-free as possible.We offer a complimentary consultation to help guide you through all your options and next steps because we want to support you not just through this difficult time but in all seasons of life. So if you need help with any real estate need, don't hesitate to reach out.
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