Tuesday, May 14, 2019

Getting a divorce, How to Sell my MN Home?

For fifty-percent (50%) of Americans who end up filing for divorce, selling a house can be just one of the challenges facing the settlement. 

A divorce is just a legal proceeding and a division of assets.  Just like any legal proceeding, agreements or settlements can be made along the way.  A home, just like bank accounts, jewelry, vehicles, or a recreational vehicle (RV, snowmobile, ATV), is an asset and must be adjudicated through the settlement process. 

There are really 4 options for the home: 
#1, One party can end up with the home either for "free" or compensating the other party (the compensation will be viewed holistically as a part of the settlement of the case).
#2, The house can be sold and the proceeds can be "split" (one party may get more or less but it'll be viewed holistically as a part of the settlement of the case).
#3, The house can be lost in foreclosure and then neither party gets the benefit of the home.

The best approach is to try to remove as much of the emotion from the home and think of it as just another asset that will need to be split.  Most people find this challenging and that's one of the reasons the home either goes back to the bank (through foreclosure) or gets sold.   When the home gets sold, there are expenses to pay for the realtor commission and closing costs.   Using a professional home-buying company like ours will give an offer without any expenses or contingencies, and we can close quickly usually in a matter of a few days.    It may be a good solution for you if you're looking to sell quickly.  Call 612-208-7878 to get an offer on your home today. 

1 comment:

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