Preparing to sell a house after a divorce

Divorce is one of toughest things to go through, but once one faces this huge challenge, it is important to face the entire situation with a sober mind. Most people at this time end up making decisions hastily, which may have negative effects in the long run. A good example is when one plans to sell a house that once belonged to both parties before the divorce took place. Selling a house requires that a person gets the right advice in order for the process to pay the victim off. It is advisable to approach credible and a reliable real estate company that will be able to get the right value of the house and sell it.

It is important to ensure that one takes up the sale of their property with the right parties. At this point credit card lenders, banks and lawyers should be the last option to consider. During this time it is imminent that ownership of almost everything will have to change hands to individuals i.e. the divorces. There are a number of steps that one needs to take in order to successfully make a sale of the house and they include:

Take Not Of All Your Financial Accounts

When the marriage was working out, one will realize that most of the savings and properties were under the names of the spouses. Financial accounts, for example, are shared by both spouses. During the divorce process, one needs to ensure that they get their names removed from credit and debit cards to avoid being liable for their partner’s debts by paying them off. Sometimes getting the name removed may cause a lot of complications. To avoid this, one can have the credit card cancelled and get a new one under their names.

Get To Know the Investments That You Shared

It is no doubt that when the marriage seems to be a bed of roses, the partners delight in sharing responsibilities including loans.  Loans and mortgages that may have been taken up by the couple will now have to be keenly looked at, especially if the payment was yet to be completed. One needs to decide whether they are interested in the property or not. They need to ensure that they set the papers right to avoid any liability. It is also important to ensure that one is sure of managing the repayment of either the loan or the mortgage before taking it up. In a case where the repayment may cause a financial strain to both parties, it is important to consider disposing off the property as an option.

Refinance Your Home

Owning a home is a good investment because it is a valuable asset. In a case where the house may not have been settled, it is important to ensure that one does so. If you are the lucky partner to have repossessed the house, it is important to get legal assistance from a qualified lawyer.  He/she will in turn ensure that the property is under your name from the joint ownership and that all the papers are right. In a case where the bank may be reluctant to accept you as the new financier of the mortgage, one can sort the help of a close friend to act as a co-signer.

Ready For Sale

Having followed the above steps and ensuring that the house is in your name, then that means that the house is ready for sale. One needs to ensure that they get good real estate agents who will be able to get the right value of the house before it is disposed.  One can either carry out a research on the same or even get close friends and relatives to recommend good real estate agents. It is also advisable that the house be in a good condition in order to get the best value out it. Ensure that maintenance is carried out on time before either the agents or the buyers get to view the house.  Despite the low emotions and energies that may be experienced during divorce, it is important to know that not everything is be lost in the long run.

Contributor Profile: For Sale For Lease Pty Ltd – a sell my house real estate agency based in Australia, is the leading fsbo or for sale by owner agency, who service the greater part of Melbourne.