Aim High Properties, LLC

Can I Sell My Maple Shade Property During A Divorce?

by | Jan 5, 2022

Your house is the most expensive thing you’ll ever own. It might also be community property, which can cause real stress during a divorce.

Houses—unlike bank accounts, debts, and frequent flier miles—cannot be evenly split between divorcing spouses. Either you or your spouse can buy the other out, or you can sell the house and divide the sale proceeds.

Let’s look at why selling your Maple Shade house during divorce may actually be your best option.

Why Selling Property During Divorce Is A Good Idea

Once you have decided that divorce is inevitable, you should put up the house for sale as soon as possible. When you get the property on the market early on, you’re maximizing its availability and potentially attracting more buyers. You’re more likely to receive an offer you’re satisfied with, leaving you with more equity to divide between the two of you.

After a significant period of time has passed, and the property appreciates in value in any significant way, the increase may be taxed as a capital gain at tax time at the standard rate of 15%. If, for instance, you both move out in April and the house does not sell until December but goes for $10,000 more than you paid, you may both be liable for $1,500 in capital gains taxes.

Working With Your Spouse To Sell Your Home During Divorce

When it comes to divorce, it’s best to know your Maple Shade’s divorce laws and ask for assistance if you want to know what to. Also talk to your spouse about the situation first. You should both agree that the house should be sold, and that it is for the best to get it off your hands. One spouse refusing the deal or making the property seem unattractive is sure to jeopardize a promising offer. In a divorce, nothing is certain, so reach a consensus beforehand and act as a team to unload the property.

Delaying your split until after the sale is final is another way to ensure the property sells before it becomes a white elephant in divorce court. Even if it seems odd to put your divorce on hold until your home sells, remember that your incentives change when the court grants your final divorce decree. The two of you may be working quite happily to sell the property, but as the final court date approaches, your spouse can start playing for time in the hopes of staying in the house or getting a bigger share of the sale price. By putting a pause on your divorce, you can refocus your energy on selling while you’re still on the same page.

Selling Your House During A Divorce

You will be faced with a lengthy and detailed process once you decide to sell. First, you may want to hire a real estate agent to lessen the stress. Before the house is ready to be shown, minor repairs, painting, and so on might need to be done, so you need to agree on how to fund that. If both of you have moved out by the time you put the house on the market, you can leave the place to be staged by the agent.

If hiring a real estate agent or staging your house might be out of your budget, you might want to consider selling the house to a cash home buyer. These kinds of companies buy your house in its current condition and based on the property’s current market value. Best of all, you don’t need to pay them all the commission—all the money goes into your pocket.

We Buy Houses For Cash In Maple Shade

Whether you choose to sell your house for cash or the traditional way, it does not have to be a long and complicated process. If you’re wondering “How do I sell my house in Maple Shade, NJ?”, we at Aim High Properties, LLC can help.

When you accept an offer from us, you can sell your house in your chosen schedule without the hassle of hiring a real estate agent, making costly repairs, having strangers in your home, and accepting an offer that may or may not close. We buy homes in any condition, size, and situation. There is no easier way to sell if it is a complete fixer-upper, in probate, or in perfect condition.

Contact us now for a no-obligation cash offer. Call us at (856) 861-6000.

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