A divorce can be a stressful and emotionally draining process, especially if you have to divide property in Maple Shade. Not only do you have to navigate the disintegration of your union, you also have to deal with the formalities and the piles of paperwork behind it. It’s sadly not as simple as saying goodbye and walking in opposite directions.
In a typical divorce proceeding, your shared assets are scrutinized and divvied up. Number one on the list would be your Maple Shade home. Your real estate property is arguably your most valuable asset. And with emotions running high and futures uncertain, it also becomes the most difficult one to split.
According to the country’s laws on divorce, there are several ways that you divide your Maple Shade, NJ property between you and your pouse. And to make this complicated process clearer and simpler, we’ve come up with a helpful guide. Read on below to find out more:
What happens to our Maple Shade house when we’re going through a divorce?
Whether the divorce is amicable or tense, the property still needs to be divided. Luckily, the parties are provided with different options. You just need to find the best one for your situation. Here are the possible scenarios for your Maple Shade, NJ property:
Co-ownership for the Maple Shade home
This is the perfect option for marriages that end in good terms where both parties are alright with being financially tethered to each other. For this plan, the two sides just need to agree on the payment terms for the mortgage. Bonus: the children can get to stay in their home.
Sell the Maple Shade house
On the other hand, marriages that would like to separate completely can opt to sell their home. For this clear cut option, both parties just need to agree on how they’ll split any of the equity they’ve built.
One side can buy out the other
If one party isn’t keen on selling and would prefer to stay in the Maple Shade house, that party can buy out the legal interest of the other party. The side that will buy the home just needs to make sure that they have the enough resources for the buyout, the divorce, and the mortgage.
Divide larger assets
Couples that have plenty of large assets, such as houses, cars, or stock portfolios, can just choose between those assets instead.
How do we sell our Maple Shade, NJ house in divorce?
A divorce offers a fresh start. This is why most couples opt to sell their Maple Shade property instead. Why hold on to the past when you can sell your Maple Shade house fast and move on with some cash in your pockets? Here’s where you can start:
Invest in a good agent
Selling a shared asset that’s highly valuable can get messy. Not only will the real estate agent walk you through the process, they can also serve as your intermediary. Try to find an agent that you can both talk to and knows how to sell a Maple Shade house fast.
Prepare for the sale
Getting a closed deal won’t happen in a day. Throughout this process, you are going to have to figure out who will stay in the Maple Shade property, work on the upgrades and maintenance, and attend the showings. Both parties would have to agree on your plan to divide your time and expenses.
Divide the profit
This is where things get tricky and complicated. In this stage of the process, the calls are made by the divorce attorneys. They will be the ones to take the money and your agreements to an escrow company. This neutral third party would then pay off your remaining obligations before distributing your halves of the profit.
Sell to a Professional Home Buyer!
Your house can just be a reminder of your past and prevent you from moving forward. Don’t let it hold you back! Get that fresh start with Aim High Properties, LLC.
You already have a lot on your plate with your ongoing divorce. Let us handle this for you! We are a no-nonsense cash homebuyer that can do all of the work for you. No need for tedious listings and lengthy negotiations here. Sell your Maple Shade, NJ house with us!
Get that fair cash offer now with Aim High Properties, LLC. Just answer our form and we can get you started on the next chapter of your life.