Discuss Your Concerns with Your PartnerThe mature way of handling a divorce is to discuss splitting assets before resorting to having a judge dictate who gets what. If you and your spouse can have amicable discussions about your marital home, you can discuss why you’d prefer to sell the property. Unless your partner refuses to do so out of spite, they may have other reasons for not selling your home. This can include:
- Sentimental attachment to the property
- (If you have children), keeping the home so that they can remain in their school district
- The potential real estate value of the property in the future
- The risk of not being able to find another home with the same value
Point Out the Costs of Owning PropertyIf your spouse intends to keep the house, try to convince them that this can be a difficult undertaking on their own. Should they decide to keep the property, they’ll be the one to refinance the property on their own so that you don’t have any obligation on the property’s mortgage. Depending on how much they make, they may be unable to shoulder the costs of the mortgage with their own income. By selling your property, you can pay off your remaining mortgage and then split the remaining proceeds according to equitable distribution. Neither of you will have to deal with the headaches of refinancing, paying off mortgages, or dealing with the maintenance and repair costs on your own.
Opt to Sell Your Share to Your Spouse (And If They Can’t Buy It, Sell!)You might want to wash your hands off the property because you know you can’t afford costs like mortgage and maintenance on your own. If your spouse wants to keep the property, offer to sell your share of your equity. Your spouse will either pay you your equity in cash, give you other assets in your marriage of equal value, or a combination of both. They will then have to remortgage the property so that all responsibilities of paying off and maintaining the property go to them. A problem can arise for them, however, if your spouse doesn’t have the means or the marital assets to pay off your equity. If you’re dead-set on selling the home, this can be an opportunity for you. If they find that this isn’t feasible, raise the solution of selling the home and then splitting the proceeds accordingly.
Sell to a Professional Home Buyer!
Your partner may be hesitant to sell because they’re worried it can prolong the divorce proceedings, and they may not be aware of what cash home buyers in Denver can do to help speed up dividing your marital assets. At Blue Halo Homes, you can sell your house in Denver, Colorado fast without the costs and uncertainties that listing on the market entails.
By selling your property to us, we can provide you with a sharp turnaround time and a fair offer on your property. Depending on your equity, this may be enough to pay off your mortgage and provide you and your spouse with the cash to start over with a clean slate.
Let Blue Halo Homes Handle Your Marital Home Woes
Divorce is never easy, especially if you and your spouse have different intentions for marital assets like your home. If the real estate market, selling times, and the other difficulties of selling a home are an issue for you or your spouse, get in touch with us today. We can discuss our quick home-buying process and how you can benefit from our fast and convenient solutions.