Selling Your House While Divorcing in El Paso

Experiencing a divorce is undoubtedly one of life’s most strenuous events. When you add the complexities of dealing with real estate, it can become even more overwhelming. If you find yourself in the throes of a challenging divorce and are grappling with real estate-related dilemmas, this blog post aims to shed light on the most effective strategies to sell your house during this trying period in El Paso.

The Real Estate Quagmire in Divorce Situations

As you embark on the journey of dividing assets, real estate stands out as a unique challenge. Unlike liquid assets, such as money, which can be easily divided, a house is a tangible asset that doesn’t lend itself to a straightforward split. The house represents both an emotional and financial investment, further complicating matters.

The challenge arises: How do you equitably distribute a static asset? Does one party keep it, or is there another feasible solution, especially when assuming a new mortgage or incurring heavy expenses is the last thing on anyone’s mind?

Deciphering the Real Estate Enigma

A pragmatic solution is to sell the house:

Settling Debts: The house may come with its set of expenses – from unpaid bills to pending mortgage payments. Selling the house provides a liquid asset that can be utilized to clear these debts.
Equitable Distribution: Once all debts are cleared, the proceeds from the sale can be divided based on an agreed percentage, typically 50/50 or as decided upon by both parties.

However, selling a property isn’t as straightforward as it sounds. The conventional method through a real estate agent can be riddled with challenges:

Who foots the bill for property upgrades or repairs?
A traditional sale can span months – a luxury most divorcing couples don’t have.
The never-ending back-and-forth negotiations and paperwork can exacerbate the emotional strain of divorce.

A Streamlined Solution: Selling to a Real Estate Buying Firm

Many couples are unaware of an alternative route to the traditional real estate sale – selling to a real estate buying firm, like Level Cash Home Offers, LLC. Here’s why this might be the best route for you:

Quick Sales: Real estate buying firms often buy houses in as-is condition, alleviating the need for repairs or sprucing up. The sale can be finalized in a matter of days, not months.
Reduced Hassles: With minimal paperwork and no need for endless negotiations, this process is much smoother.
Financial Benefits: Selling directly can save you from agent commissions, fees, and other hidden costs.

Divorce can be a tumultuous journey. But when it comes to the shared property, you have options that can ease the process. At Level Cash Home Offers, LLC, we are dedicated to helping couples in El Paso find a quick, hassle-free solution to their real estate woes during divorce. If you’re eager to turn the page and begin a new chapter, reach out to us. We’re here to assist and simplify your transition.

Houses In Divorce Can Be Complicated

During a divorce, the two parties seek to split their assets in half. For some assets are liquid (such as money), it’s very easy to do. For other assets, including real estate, it’s much harder to do because how do you split a house in half? It’s one asset that derives its value from being whole, and it’s usually a structure built on a plot of land, so it’s not going anywhere.

Since cutting the house down the middle isn’t an option, should one party get it or the other? And maybe in some divorces, one party might be invited to take the house only if they can pay for it (which is a massive expense a time that people rarely want to incur such expenses).

Here’s How To Split The Real Estate Asset

The best way to split the real estate asset is to sell it:

The property itself might have some expenses incurred during the sales process, or there might be outstanding bills, or there might still be a partial outstanding mortgage on the property. So the two divorcing parties should probably just sell the property and direct their attorneys to apply the money earned from the equity to any outstanding debts.

The remaining amount can then be split between each party, with each party getting an agreed-upon percentage (such as 50/50).

But this begs the question — how do you sell the property?

The Fastest Way To Sell A Divorce House

When it comes time to sell, most people think of selling through a real estate agent. Unfortunately there’s a few problems with this:

the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
the agent will then list the house, which can take 3-6 months to sell (sometimes longer) — can either party wait that long?
the agent will then involve both parties in the negotiation with the buyer and there is A LOT of paperwork to shuffle back and forth

This is a costly and time-consuming way to sell, and it can actually make the divorce proceedings so much worse.

Fortunately, there’s another way to sell and that’s to sell your house to a real estate buying firm (which is what we do here at Level Cash Home Offers, LLC). The real estate buying firm will buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean up or fix up the property and the sale can be completed in days, not months, with very little paperwork.

If you’re going through divorce and want to just be done with it and move on with your life, just reach out to us and tell us about the house you want to sell. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.