Sell Your Home While Going Through a Divorce in Chicagoland

If you, like many Americans, are going through a divorce, you know that life does not stop, and decisions have to be made regarding your home and finances.  Though this is a difficult time that does not need to be exacerbated by splitting assets, your mortgage will still be due even during this process.  In many cases, one or both parties would prefer to keep the marital home, and if this is true in your case as well, you understand the complexity of the problem.  Names can be removed from paperwork easily enough, but removing a person from a mortgage is a vastly different story.  Qualifying for a mortgage on your own is much more complex than attempting to qualify with another person, particularly if one or both parties have good credit.  Some couples have even been known to stay together ‘for the home’, waiting until it is financially advantageous to leave. 

It is normal to face trepidation and worry at the prospect of selling your home, particularly during such a difficult period.  At Tony Buys Homes, we have been helping homeowners just like you with fast cash for their property when they need it most.  We have been serving the Chicagoland community since 2011, and we have already bought many homes from divorcing couples, homes with liens or judgments, and distressed homes! Basically, we do not discriminate on condition or location.  We are a family-owned and operated company, and we want to make your home sale as simple and hassle-free as possible.

Is it better to sell a home before or after a divorce?

Timing is everything, and this is particularly true in the market.  When is the best time to try and sell your home?  Should you attempt to put it on the market before the divorce, or after?  There are pros and cons to each:

• Selling before a divorce – You may be able to get a write-off of up to $500,000 from the current year’s capital gains taxes.  This may seem like a great windfall, particularly if you are in dire financial straits.  If you wait until after, you may have to negotiate to receive what you’re entitled to. Selling your home quickly before the divorce can save you money in the future!
• Selling after a divorce – Buy land; they aren’t making it anymore.  Property is almost always a good investment, and the market is constantly changing.  The property value may increase, but you may also have to split your profits with your ex-partner.  If you do not have to move immediately, save the sale until after the divorce.

Do you have to sell your house in a divorce?

This obviously depends on you, your spouse, and even your other family members.  The matter is as simple or as complicated as you make it, and if both parties can come to an agreement about sale or ownership, all the better.  If not, the courts will sort it out, and a judge will issue a court order about equity distribution.

How do you sell your house when divorcing?

If you have decided that it is in everyone’s best interest to sell your home from the divorce, the next step is deciding how. The most difficult part of selling a home during a divorce is having to make mutual decisions with both parties being present and cordial. This can make the process lengthy and stressful, so If you need to sell your home fast, consider your alternatives. You could hire a realtor, but that comes with the added headache of commissions, closing costs and  more! In addition, selling your home with a real estate agent could take months that you simply may not have.

Another option is using a cash buying company like Tony Buys Homes. We buy Chicagoland homes no matter what condition they are in, and can even offer you a no-obligation cash offer in as little as one day.  Simply call our local office and schedule a risk-free inspection.  We can have your home sold in as little as one week without ANY repairs, fees, commissions, closing costs, or waiting!

Get A No-Obligation Cash Offer For Your Chicagoland & Naperville Home

Divorces are tough enough, and figuring out what to do with your home simply adds to the stress. If you are ready to get rid of your home, contact our Chicagoland team. Tony Buys Homes wants to make your divorce as smooth as possible, so call us today to receive your no-obligation cash offer. Simply dial 815-488-6373 or fill out the form on this page to get started.