Tag: sell your home

4 Ways to Equally Divide Your House after a Divorce

The sad reality is some marriage fall apart. After years of investing in the relationship and building a family, the rapport between couples breaks down. This why divorce is among the 13 common reasons why Americans sell their home.

Dissolving the legality of your union is daunting. Similarly, dividing your properties especially your house, which is your biggest joint asset, is also exhausting.

Divide and Sell Your House in Washington DC

While there’s no exact solution to dissembling a house during a divorce, here are 4 options to help you move forward from the break up without losing your asset.

Buyout.1. Buyout Ex- Partner

Acquire the whole property by buying out your partner. Buyout happens when one partner purchases the ownership of the joint proprietor, in this case, your ex- partner.

However, determine if buying out your partner is feasible. One advice from Natalya Price, a realtor, removing emotional attachment is necessary to come up with the best possible decision. Although, it’s easier said than done, it is a must.

Determine if you’re the one to stay or go. Then work with an appraiser to identify the fair and accurate value of your home. If you think that the amount isn’t fair enough, work with another appraiser to assess its value.

Be careful in the process. Property buyout needs cooperation between homeowners. Make sure that both of you are willing to sell shares. If one refuses, you can petition to force the buyout, but it will cost you hundreds of bucks again.

Co-Habituate After the Divorce.2. Co-Habituate After the Divorce

Some couples tend to stay under the same roof even after divorce. Similar to one of “Brady Bunch’s” episodes, they literally divide the house to equally benefit on the property.

This usually happens when homeowners can’t sell their property due to over pricing and other reasons and cannot afford to transfer elsewhere.

However, living under the same roof after the separation can complicate the situation. This may cause misunderstanding and restlessness between partners.

Sell Your House and Split the Profit.3. Sell Your House and Split the Profit

Most homeowners opt to sell their house after the divorce. This is a better option than the above scenarios.

Even your attorney, financial adviser, or family members would highly recommend this than the latter. Aside from equally splitting the profit, this is the simplest way to resolve complications. Both parties get an equal share and won’t bother on any joint debts.

Selling your home has caveats and challenges. It’s necessary to sell the property at the most competitive value to get what it’s really worth.

You may also be charged with the capital gain tax by the Government. A married couple can save up to $500, 000 while an individual can exclude up to $250, 000 from the total sale.

Selling your home is a tedious process. The longer it sits in the market, the longer your agony is.

Sell to Cash Home Buyers.4. Sell to Cash Home Buyers

Selling your house to cash buyers is the most practical and easiest way for divorced couples. You don’t need to wait for the hot market, do repairs, and hire an appraiser as you can sell your house for cash and as-is.

Moreover, dealing with your ex on this matter, which may cause frustration to both parties, will be minimized. The process only lasts for a couple of days and can close the deal within a week so it’s convenient than the other options.

To some couples, joint ownership doesn’t last long. In this event, maintaining the co-ownership isn’t the best idea. The above ways to equally divide your house can serve a big help. However, if you want to sell your house fast, avoid complications, and start a new life, selling your house to cash buyers is what we recommend.

Sell your home to The Home Buyers. Whatever your reason is, we are happy to help and lessen the burden. We have dealt with divorced couples before and we understand that selling your home quick and easy is all you need.

Don’t worry, we can seal the deal within 7 days and give your money in full. Contact us through our website and our happy customer service will assist you.

13 Common Reasons Why Americans Sell their Homes

Buying a new house is the grandest investment you’ll make. It is a venture to keep for a lifetime. However, the shifting lifestyle triggers for the change of people’s undertaking and preparation of the future.

Contrary to homeowners before, who live in their houses for more the 30 years, property owners today are less likely to stay long. Usually, 5-10 years of stay is enough to sell their house.

Why Homeowners Sell Their House in Washington DC?

This phenomenon might be intriguing for some but it is actually a common practice for Americans. Here are 13 reasons why homeowners opt to sell their house.

Reasons Why Americans Sell their Homes we buy houses1. Outgrown the Starter Home

First-time homebuyers, especially those that are newly married, usually purchase a property that can only accommodate them as partners. They overlooked the possibility of growing their family bigger in the coming years.

A spacious living room, additional bedrooms, and a bigger dining area become a necessity. With this, they opt to find a bigger house compared to their old one.

Make sure to buy a property that you believe will accommodate your needs for the next 5- 10. Although life isn’t always sweet and orderly-fashioned, preparing for the future is better than moving out every now and then to find a better and more comfortable home.

Reasons Why Americans Sell their Homes we buy houses2. Wants a Grander Home

Who would not want a better, bigger, and grander home? Of course, everyone would love to.

People with extra funds would invest their money on a new and bigger house and upgrade their lifestyle for the better. This is no problem especially if you can afford to make a purchase. Just make sure to save for the rainy days. A luxurious house won’t help you on your immediate needs.

Reasons Why Americans Sell their Homes we buy houses3. Rectify a Purchase Error

This should not happen but some buyers still make mistakes in their purchase.

For an instance, you may want to renovate your house, but zoning restrictions were implemented by the local officials without you getting notified by the seller. Or you easily fell in love with the newly- renovated house, only to find out that the location isn’t safe at all.

These mistakes happen because sellers get easily swayed by the seller or it is just due to personal negligence.  Whatever the reason is, they didn’t get the best deal.

If this happens, you have two choices. It’s either to live within the restrictions or sell your house and move. Usually, the latter option wins.

Reasons Why Americans Sell their Homes we buy houses4. Career Advancement

Job transfer is another reason why most homeowners move. If you are offered a job opportunity in a different state or town and don’t want to have daily commute then relocating is the best option.

Sell your home and find a local house nearby your new company. This saves you time and money.

Reasons Why Americans Sell their Homes we buy houses5. Marriage or Divorce

Since more and more people are marrying in their late thirties, they tend to sell their individual houses to get a larger home in preparation for a bigger family.  One, or even both of them, would sell their house to purchase a better property where they will start building memories.

Unfortunately, on the other hand, relationship breakup and divorce trigger homeowners to sell. Aside from forgetting the bad experience and memories from their old house, divorced partners sell their property with the goal splitting the profit to get equal equity.

Read: 4 Ways to Equally Divide Your Property After Divorce

Reasons Why Americans Sell their Homes we buy houses6. Undesirable Neighborhood

You have transferred to an area that is quiet and homey, however, in a long-run your neighborhood has started to change. It becomes toxic and no longer matches your current and desired lifestyle— socially, physically, and economically.

When this happens, homeowners are compelled to sell their house to transfer to a new location where they can get a peace of mind.

Reasons Why Americans Sell their Homes we buy houses7. Family Downsize

Kids have are already grown up and have built their own family. Once this happens, empty nesters would prefer smaller home.

Selling your old house and moving to a small yet cozier place is way better than staying in a house with no one to be with.

Read: 5 Easy Steps to Successfully Downsize Your Home

Reasons Why Americans Sell their Homes we buy houses8. Family Connection

Some people want to get closer with the family while others don’t. Depending on your goal, the need to sell your house is an ideal idea if you want to relocate near or far from them.

Reasons Why Americans Sell their Homes we buy houses9. Retirement

Some retired and older couples would want to relocate to an active-adult community, where they can have an active lifestyle and pursue a hobby. Some would love to go on travels.

Cleaning and maintaining big houses is an issue for the older homeowner so they prefer to settle on a simple haven that is easier to sustain.

Read: 4 Reasons to Sell Your Home When You Retire

Reasons Why Americans Sell their Homes we buy houses10. Health Issues

Back and knee problems and other physical ailments deter homeowners to climb high staircases and clean spacious property. Having these health issues, they would trade-off two-storey houses to a one-storey home or a condo unit for a simple lifestyle.

Others with severe health issues are recommended to stay at home with a nurse.

Reasons Why Americans Sell their Homes we buy houses11. Cash in Equity

Your house bought 10 years ago has doubled and tripled in price now. With this, some owners opt to sell their house to get the equity.  They are simply drawn to selling their home to get more funds than having a home.

If you do this, make sure to put your money to a better investment plan.

Reasons Why Americans Sell their Homes we buy houses12. Extensive Renovation Needed

Your house requires a total renovation. You need to replace the siding, install new roofs, buy a new furnace, and a lot more other areas to improve. This would possibly cost you more than buying a new home.

With this, homeowners choose to sell and buy than to spend money on the home improvements and renovation.

Read: 10 Things You Should Prepare to Sell Your House Fast

Reasons Why Americans Sell their Homes we buy houses13. Foreclosure

You weren’t able to pay your loan which set off mortgage lenders to foreclose your property. Before they close and sell your property, you may want to sell it yourself and pay the remaining loan balance before everything gets worse.

This is a strategy done by most homeowners to avoid foreclosure and still get money from its sale.

The above reasons are the most common reasons why homeowners sell their home out of the many. Usually, it varies on your financial goal and life circumstances.

However, putting your property on sale is difficult and takes a long process. If you want to take the plunge and sell your house fast, contact The Home Buyers.

We buy houses of any type whatever your reason is. We guarantee the sale of your house, pay it in cash, and close the deal within a week. Contact us now!

When is the Best Time to Sell Your Home?

The real estate economy is on the rise and it is tempting to sell your house. Should you take a risk?

Aside from a good market condition, taking into account your personal circumstances is important. Before you plant the “for sale signage” on your yard, assess yourself and check below criteria to know whether you are ready to pursue a sale or not.

What is the Best Time to Put House on The Market?

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Positive equity1. You have Enough Equity to Fund your Expenses

Before you finally sell your home, make sure that you’ll get an equity that can help you finance your mortgage and other personal expenses.
The equity price is computed by deducting your home loan from the total value of your property. For an instance, you house’s worth is $350,000 and the mortgage is $250,000, the remaining $100,000 is the equity.

If you have enough, it’s a good sign to sell. However, if you owed more than your properties’ worth, then don’t. Wait until the value increases or you have already settled your mortgage.

Debt Free a2. You have No Existing Bank Debt

Begin by assessing your cash flow. Can you finance three to six months of your everyday expenditure? Can you still live at ease while in the process of selling your house? If you answered yes to all these questions then you are ready to sell your old house and purchase a new property.

Settle your existing debts before you make a final decision.

Afford to buy a house3. You can Afford to Buy a New House

Do you have sufficient savings to buy a new house? If so, there’s no problem to sell. But if you only rely on the sale of your property, think twice.
Once you have listed your property, prepare for other expenses that may come your way. If you hire a real estate agent, then you are required to pay them a commission fee of 6%, which is undeniably hefty. If you want to save from this charges, this guide will help you sell without a real estate agent.

If your fund is limited and you struggle on paying your expenses, re-consider your plans. It is best to wait a moment and save before you make your house for sale.

Real estate market on the rise4. The Real Estate Market is in Demand

Observe the real estate market before you finally lists your home. Buyers usually begin scouting for new properties during sunny and milder days. Spring season has proven to be the best time to sell while winter is the worst.
If you list your home when the demand is high, the better chances of selling it fast at a competitive price.

Home improvement projects5. Your Home- improvement Projects are Done

Finish any pending improvement jobs before you put your home for sale. Repairing small projects like perking up the bathroom sink and painting the front door can make a huge difference.
You don’t need to fully renovate to please prospect home buyers as they may have a different preference from you. However, if there’s a need to do major home improvements for a more functional home; make sure to complete them as soon as possible. Read these 10 things to prepare to sell your house fast.

Buyers don’t expect a brand new house, a turnkey home is much more important.

family lifestyle6. Your House Does not Fit your Lifestyle

Is your house too small or big for you? Are you expecting relatives or additional family members to stay with you? Or, are your kids have already moved out with their own family? Do you need to up-size or downsize? Think of it.
These are common factors to consider before you sell your home. If your neighborhood and home no longer fit your lifestyle, then it’s probably the best time to sell your home.

If you are confident to sell your property and have all the resources you need to transfer to your new house, go ahead. However, if you want a quick sale and cannot afford to pay for ad-hoc expenses, The Home Buyers is your next big choice.

We can buy your home of whatever conditions and can price your house competitively. Need funds immediately? Contact us now! We can buy your home in just a week.