Recently, we received the following email from a homeowner:
“Hey, I’m dealing with a divorce, and I’m hoping to sell my house fast in Dallas. Does it make sense to sell the property before the divorce, or should I try to keep it and sell it later after the divorce has been legally settled?”
A divorce is an emotionally challenging process. One of the biggest decisions you’ll have to make is, “Who gets to keep the house?” In many cases, neither party wants or can afford the home independently, and selling it looks like a better option. If they decide to see it, when is the best time, before or after the divorce?
This post will discuss your two options and analyze each option’s pros and cons to help you make an informed decision.
1: Sell Your House Before the Divorce
One of the main advantages of selling your house before your divorce is finalized is that it can help you avoid any potential disputes or complications that may arise during the property division process. If you and your spouse cannot decide how to divide your assets, a judge may have to step in and decide for you. Involving a judge can lead to lengthy and expensive legal battles, and it can also result in a division of assets that is not fair.
Selling your house before your divorce is finalized can also help you avoid the emotional turmoil of living in the same place as your soon-to-be ex-spouse during the divorce process. For many couples, the thought of continuing to live together after deciding to end their marriage can be unbearable. By selling your house before your divorce is finalized, you can move out and start the next chapter of your life without additional stress.
Another advantage of selling your house before your divorce is that it can provide you with the financial resources you need to start over. The proceeds from the sale of your home can be used to pay off any outstanding debts, such as mortgages or credit card balances. It can also fund your new living arrangements, whether moving into a new apartment or buying a new house.
2: Sell Your House After the Divorce
There are also potential drawbacks to selling your house before your divorce is finalized. For example, if the real estate market is slow, it may take longer to find a buyer for your home. Waiting to sell the house can delay the divorce process and prolong the uncertainty and stress you are experiencing.
Another potential disadvantage of selling your house before your divorce is that you may have to accept a lower price for your property. If you are in a hurry to sell it, you may not have the time to wait for the best offer. You could end up rushing into a deal with a lower return on your investment, which can be frustrating and disappointing.
Additionally, when you decide to sell the house after the divorce, the person who keeps it gets to decide what to do with it. The partner legally awarded the place can determine whether they want to continue living in it or sell it.
Is It Better to Sell the House Before or After the Divorce?
Ultimately, there is no one correct answer. Both options have pros and cons, and what works for another couple may not fit your situation. Weigh both these advantages and disadvantages to choose the one that best fits your situation.
If you need help selling a house quickly in Dallas, reach out to Five Star Properties. We buy houses in Dallas in any condition, even when you’re going through a messy divorce. We can help you sell your home in as little as a month, helping you complete the transaction and move on to the next phase of your life.