Should I Sell My House Fast Before or After a Divorce?
There is no clear-cut answer when selling your house during a divorce. While both a pre-sale or a post-sale have their pros and cons, it ultimately depends on your situation. What is important is that you consider all your options before choosing how to sell your house. Some of your main options are to hire a realtor, do a For Sale by Owner (FSBO), or sell your house for cash to a local buyer in Wichita, Kansas.
You need to consider your budget, your timeline, whether you have a place to stay after the divorce, and, of course, the arrangement you have made with your ex-spouse. Your goal should also be to create the path of least resistance in the shortest time frame possible so that all parties involved can move forward. Below, we compare selling your house before or after your divorce to determine which is best for you.
Selling Your House Before the Divorce
As a rule, you want to sell your house fast to move on with your life. However, there may also be some benefits to waiting.
Selling Your House Before the Divorce
If you have built equity into your home over the years, you may find that the extra cash you get from the sale can help you leap forward financially. You may need money to buy a new car, relocate, get counseling, hire legal services, or find a rental. Another benefit of selling your house before the divorce is that it allows you to let go of the past and move on emotionally.
Selling Your House After the Divorce
Selling your house before the divorce can potentially delay your separation. This is especially true if you and your spouse are having a dispute over property or assets. Waiting until all divorce-related issues are settled can make it easier to sell your house fast and get through your divorce more quickly. It may also provide stability for your children.
Something to consider when selling your house is the capital gains tax. If you sell your house fast before the divorce, you may avoid the capital gains tax. When you sell as a couple, you can potentially exclude up to $500,000 of your home equity from the capital gains tax. If you wait until after the divorce, you may pay a hefty capital gains tax that you cannot afford.
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What Are the Benefits of Selling My House As-Is for Cash?
Going through a divorce can be a stressful time. At Blue Sky Properties, we take the stress out of selling your home by making a fair cash offer and helping you close on the sale as soon as possible. There are several advantages to selling your house for cash when going through a divorce.
- You can quickly move on with your life.
- You can disconnect from the emotional distress of being in the house.
- You can generate the cash you may need for divorce-related expenses.
- You make no repairs or upgrades to the house – we buy houses as-is.
- Our investors can buy your house regardless of your current situation.
- You pay no closing costs or realtor commissions.
On average, houses take 60 to 90 days to sell when you list your house on the market. If you do a For Sale by Owner (FSBO), it can take up to 12 months to sell the property. You may not have that kind of time when going through a divorce. Blue Sky Properties can buy your house as-is, make a fair cash offer within 24 to 48 hours, and close in only a few days. This gives you the flexibility you need to move forward with your life in other ways.
Sell Your House for Cash in Wichita, Kansas
Do you live in Wichita, Kansas? If so, contact Fortune Houses today. Sell your house fast for cash in Wichita, Kansas and the surrounding area. We buy houses as-is in any condition. Call 316-202-4249 to schedule a quick, no-obligation visit with one of our local cash home buyers.