Are you in the middle of a divorce and thinking to yourself I need to sell my house!? Maybe you’re thinking about keeping the house and you’re trying to figure out between you and your spouse who’s going to keep the house. Can you afford it by yourself? I get this question all the time, it’s probably the number one customer that I deal with.
Divorced couples are my most frequent clients. Why? Because, the number one thing that you’re fighting over (after your kids) is your house. Let’s get into it:
First you want to determine if and when you want to sell the property. Do you want to sell it before the divorce or after the divorce?
A lot of times one spouse will buy out the other one or win the property in the divorce and the interest in the property to keep it themselves and they’ll be the sole owner even though the other person may be on the mortgage. The question you need to ask immediately is, can i afford to pay for this house on one income?
A lot of times I end up finding my clients when they are behind on their payments but the core reason they’re behind is not because their irresponsible or that they lost their job or something like that, it’s because they got divorced and they’re doing it now on one income and it’s just too much just too much money for one person to keep afloat.
NEXT: Seek professional help. You don’t have to figure it out alone. Talk to a real estate agent or an investor or even maybe your attorney or a pastor because most of time when you’re in the middle of divorce you’re emotional and you’re not really thinking clearly, you’re making irrational decisions just get your “Pound of Flesh” and I understand that especially if there was some bad situation in the in the marriage which is causing the divorce.
I would recommend looking at keeping the house as more of a financial goal, more of a long-term play. Ask yourself “Am I going to be able to afford keeping this house” Look at it deeply. Write down all your expenses on a piece of paper, compare your income to expenses. Is keeping the house gonna cost you the little luxuries? Your shopping? Your Starbucks? Your trips to the movies? Are you ready to give those up? Just make sure youre making a logical and not emotional decision.
THIRD: Set a timeline. So if you think that your divorce is going to happen around “this time” you know maybe say okay we’re going to make a decision by “here” because it takes an extra 45 days to close on a house. Also consider that if you’re going to put your house on the open market it could take 3-4 months to actually put it on the market, find a buyer, and get it closed.
LASTLY: People come to us because we make it easy. It’s simple, we can talk to the spouses separately, and we’re a nonpartisan third-party. We don’t want to get involved with “Who’s to blame” We’re there just as a cash buyer looking to make a purchase an investment and we deal with it all the time, so we can hold your hand through the process, both of you, independently. You don’t have to be seeing your ex or soon to be ex over and over, we can and will meet up with you separately to help you get rid of the burden of this payment.
If you’re interested in receiving a cash offer on your property call us at 915-593-3300 or fill out the form on our home page and we will come thru and make a transparent no obligation offer on the property and try and help you solve this problem.