Getting a divorce… well, it sucks. This is not what you envisioned when walking down the aisle. You have so much stress and things to worry about, including potentially dividing the home you once shared. It’s extremely stressful and causes a lot of anxiety and fear.
This article aims to help ease that as much as possible by sharing the ins and outs of selling your home during a divorce in Chicago .
Let’s get right to it and dive into the steps.
With over 50% of American marriages ending in divorce, many Chicago residents are looking or advice for selling a home during a divorce.
A home is almost always one of the most valuable joint assets, and obviously cannot be divided without first liquidating.
During a divorce, everything is emotionally charged, but it’s important to remain rational and clearheaded. There are several factors to consider when facing a divorce in a real estate market.
Determine if (and when) You Will Be Selling Your Home During Your Divorce in Chicago
In many divorce cases, one person will keep the home, buying out the departing spouse’s share. That’s if you can agree, of course, which in many cases is a big ‘If’!
Still, in many cases, rational heads prevail and agreements are made where one spouse uses the house for a certain period of time (such as when there are children in the home), and then sold at a specific date (like when the children reach a certain age).
When you do sell, you’ll need to get an appraisal from a professional and decide who will pay for that. Then, you’ll have to agree which repairs you’ll tackle before the sale, and who will pay for those expenses.
In addition, you’ll have to consider what budget you (and/or your spouse) will have to move to your new house or apartment.
Get Professional Help – Agents and Home Buyers / Investors
Selling a home is a difficult process when everything is going right, nevermind when things seem to be going wrong.
During a divorce, you have a lot going on, and a lot to consider. You shouldn’t take on the task of selling you home yourself. You may have disagreements with your spouse about the selling price or other issues like those repairs and whether to fix them.
By working with a real estate professional… either a reputable agent or real estate investment firm, you’ll both have a neutral third party who can help you determine a fair selling price and handle the marketing of your home.
If you need to sell your Chicago house fast… reputable local real estate investment firms like Olson Home Buyers can be a great option. Firms like ours actually BUY HOUSES (rather than listing them like agents do)… and we pay cash and can close quickly if you need to sell this house fast.
If you can wait the time it’ll take to list it with an agent and sell it on the open market, going with a real estate agent is your best bet.
But if you can’t wait the 3-9 months it sometimes takes to sell a house in this market in Chicago… chat with us to see what we can offer you for your house during your divorce.
Set (and stick to) a Timeline
It’s important, when selling your Chicago house during a divorce to keep a timeline.
You should put your home for sale in advance. You and your ex need to coordinate to set firm closing dates, moving dates and times, and determine which spouse will be handling the sale (or talking to the real estate agent). Make sure that each of these agreements are in writing, and negotiate penalties for breaching the agreements.
This helps ensure a smooth, surprise-free home sale.
Selling Your House Fast For A Fair All-Cash Price
One option that many divorcing couples have turned to in recent years is making a quick sale to a real estate investor like Olson Home Buyers.
Reputable local real estate investors like us purchase houses quickly and without stress, and the process can often take as little as 7 days.
Deciding how to sell a marital home in Chicago doesn’t have to be as stressful as the divorce itself.
By protecting each party with a qualified real estate agent or simply jointly deciding to sell and selling fast to a real estate investment firm like Olson Home Buyers, and moving the process as quickly and according to an agreed-upon schedule, all parties can walk away from the sale without stress.
If you want to discuss your situation with your divorce and see if we can help you save time, reduce anxiety, and get out of this situation fast…
Give us a call anytime at (312) 210-0115 or
fill out the form on this website today! >>
We’ll evaluate your house, make you a fair all-cash offer, and you can decide if selling your house to us is the best fit for you. We’re here for you, so just reach out and let’s chat.