Selling a home is usually a relatively simple process, but it does become much more difficult when getting divorce attorneys, judges and two people who are not seeing eye to eye involved. Since your house is likely your largest asset, it is important to make the sale of your home worthwhile so both of you can jump into the next phase of life in a good financial situation. Here are a few things you can do while selling your Belleville home during a divorce to make the process a little less stressful:
· Decide who gets the house – Hopefully you’ll mutually be able to come to an agreement on who gets to either keep the house or how the money will be divided should you sell. Illinois is a community property state so the goal is to equally distribute funds. There are factors like the length of the marriage, each spouse’s economic situation, kids, alimony and so forth which are considered when deciding who gets what, including the house. In many cases, a judge will rule that the house is to be sold immediately and the former couple will split the profits.
· Continue paying the mortgage – you may need to get your attorney involved to decide who pays what, but it is super important to continue making on-time mortgage payments during this process. Failing to do so could cause the home to go into foreclosure and could end up costing you both more money and damage your credit for years to come.
· Hire a real estate agent you can trust – If you have decided to sell the home, it is important to find an agent who will not favor one person over the other so that both of you feel like you are getting taken care of. This person will often act as the go-between for you and your soon to be ex and will also take care of the showings, paperwork and all the other house sale related things. Your agent should also be well versed in how to sell a house during divorce so they can guide you through the process instead of trying to navigate these uncharted territories alongside you. If you’re looking for a Belleville real estate agent, reach out to Nick Bridge Realty to discuss your options.
· Try not to get emotional – Easier said than done, I know. But thinking of the sale of your home as a business transaction can help make the process easier on you. It’s best to move your belongings out of the house and move somewhere else before the house hits the market. This will help you get the emotions out early and be able to focus on getting the most money possible during the sale process.
When asked if Cardinal Creek Properties can help couples settle the court’s divorce directions, the one house that definitely meets that description was a two-story property that had been abandoned for over a year. The sellers’ breakup was brutal from what I heard, and neither person wanted to deal with the house. It was not until the judge ordered them to immediately sell that the husband started to look for a buyer.
To complicate the situation, the house was also in foreclosure and the sellers owed more than the house was worth. When trying to sell a house that’s upside down, the mortgage lender must agree to the purchase price and terms. This process is called a short sale and, luckily for the soon to be divorced couple, the Cardinal Creek Property team are short sale wizards. We negotiated with the seller’s lender to buy the house at a fair price and solved their divorce and foreclosure problem.
We can do the same for you! We buy homes in Belleville, and all the surrounding areas in any condition, so even if the house is in less than perfect condition, we don’t mind. We can work quickly so you can move on to the next chapter in your life. Give us a call at (314) 467-8137 to get started.