Selling your house during divorce in Greensboro can be extremely difficult. Emotions can be high in a divorce. Chances are that someone at some time wants to destroy the house. The reality is, eventually emotions subside and we all become adults once again.
Agreeing to Sell and Split
One of the common ways to split assets in a divorce, especially a house, is to put it on the market, sell it and split any equity equally among the two of you. This is common especially if there aren’t children involved. It simplifies things by eliminating a pending mortgage and if you can sell quickly, expedites the divorce process. That being said, if the housing market is slow, this could drag things on longer than desired.
Give AIP House Buyers a call to get an honest assessment for your Greensboro home. Find out the value of other houses in your area. Will we will work with you to assess any needed repairs and get you a fair cash offer.
Preparing the House for Sale in Greensboro
Do your best as a couple to clean up the house and make it presentable for sale. Remember you both have a stake in the successful sale. De-clutter and make it look like a happy family lives there. Continue to mow the grass. And if you really want to make it smooth, tackle that honey-do-list you have been avoiding. If these are items you have no interest or time in pursuing then we will by your house as-is, regardless of how bad it is we will buy your house and take care of everything.
One Spouse Keeps The Pad
While this option is more common when children are involved (to keep them stable), it is a viable option in any divorce if parties agree. In this scenario, you decide to buy the house from your soon-to-be-ex. He or she will agree to quit their interest in the property by completing a quit claim deed. For their part, you agree to assume the mortgage and buy them out of their equity.
To buy your spouse out of the mortgage, you need to contact the lender and explain the divorce scenario and request an assumption of the loan. Lenders will more than likely underwrite you as an individual to make sure you can afford the house on your own. Make sure you document all income you have, including spousal support.
If the lender won’t let you assume the loan, you need to apply for a refinance. If interest rates are lower, this might not be a bad scenario anyway. Again, this is a loan application. Meet all income and debt obligations to qualify. If none of these options work for you then call us for guidance on the next steps to sell your house to us for a cash purchase. We Buy Houses in the Triad area of North Carolina on a regular basis and can solve your house problem quickly.