Facing a divorce is stressful. It becomes more stressful if kids and a house is involved. Last year alone, 50% of marriages ended in divorce. You might be wondering what happens if you file for divorce and you share a home together. Good news is you aren’t alone and we’ll walk you through to your property after a divorce in Jacksonville!
Who Gets The Property?
This is something you and your soon to be ex-partner will have to decide. One of you, or neither of you, will have ownership of the property. Most divorces will require the sale of the property because both parties want to keep it or one party wants to sell and the other doesn’t. Usually, the couple decides to sell the property and split the proceeds. Some couples decide to buy the other person out if they want to keep the property like if kids are in a certain school zone or it’s convenient to the others work.
Options if you decide to sell
If both partners decide they want to sell and split the profits, there are multiple options. One is listing is on the open market. This involves making sure the house is show ready and having a real estate agent list the property. With this option, it can take anywhere from 30-90 days to get an offer and close on the property. You will have to allow showings, do inspections, and appraisals.
If you want a quick way out without all the other hassle, selling direct to a home buying company another option.
Why Sell Direct?
Professional home buyers in Jacksonville, florida close faster than traditional home buyers. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. When you sell property through traditional real estate agents, the usual commission is 3% per side, so if you sell your home for $300,000, you would have to pay $18,000 in commissions alone!
Purchasing Homes As-Is
Professional home buyers in Jacksonville will usually purchase homes as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction.
Lower Risk Transactions
Selling to a professional home buyer is extremely straight forward. They will lay out every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the home or the neighborhood. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Professional home buyers already know the state of the property, and they are willing to take on that risk.
No Showings
When you decide to use a professional home buyer in Jacksonville, you will not have to worry about going through a roller coaster of emotions. There are no frustrating, middle-of-dinner phone calls asking if you are available to show your home. You don’t have to worry about leaving your home spotless every day before heading to work, just in case there is a showing while you’re gone. You don’t have to worry about possibly running into a buyer’s agent or their clients or dealing with them asking you questions that you really shouldn’t answer anyway. You also don’t have to worry about buyers arguing with you over which furniture you are taking and what you are leaving.
Move Out Time
Professional home buyers are in it for the investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes. Also, you may not even have to clean the home when you leave. You can simply pack your personal items and furniture you want to keep and leave the rest.