Certain experiences in life can make you question everything you’ve ever done right up to this moment. A divorce is a perfect example of such an experience. Apparently, things have not turn out the way you wanted in the marriage, and the process is imminent. The next logical step is to sell my Houston house so that the equity can be shared equally. But suddenly you’ve found yourself wondering, “What happens in case I can’t sell my Houston home in divorce?”
Like many other people who’ve gone through the process, you’ll pull through and be okay because we want to give you the answer to this question. Of course, different individuals will have various solutions, so you have to know what best suits your situation.
A person who’s going through a divorce would define the situation as challenging. Why? Well, for one it’s time-consuming, complicated, emotions always run wild, and more importantly, it’s expensive. On top of all this, you have to look for a way you can sell the house and split the equity value into two before putting everything behind you. So this is what you need to do if you find yourself wondering what next now that it’s becoming difficult to sell the Houston house in the divorce.
Find out the reasons behind the property not selling
What are the factors that make it impossible to sell? Unfortunately, we can list so many things that can prevent you from selling a Houston house in a divorce. Some are due to the current market conditions, and this means that even if you weren’t going through a divorce selling would still be a challenge. Another reason might be the ongoing conflict between you and your partner. The disagreement can make it hard for a homebuyer to negotiate or close a deal. Luckily, if a complicated divorce is a reason why you can’t sell, you can find a way around it.
The delay is also an issue
The longer the Houston home stays on the market the costly it becomes to manage it. Remember you’re still the legal owner of this property. So this will mean that you have to keep paying your taxes, bills, and mortgage in addition to the amount you’re spending on your attorneys. In other words, the goal might be to sell at a reasonable price and leave the marriage with your financial status intact, but the divorce process might be scaring potential buyers away.
What’s the solution?
We do have people who don’t care about the condition of the property and are not scared of couples selling in divorce. We’re talking about real estate companies that buy houses or home investors in Houston, Texas. Marketing to these firms is an effective strategy you can use to sell in divorce. In truth, a cash investor won’t be able to purchase the house at the current market rate, but if you do your math right you’ll realize the longer you hold onto the home, the costly it becomes. Plus, you don’t have to pay any agent commission, repair the property, or pay any closing fee.
So in case, you were thinking, “What’s next if my Houston house doesn’t sell in divorce?” you need to know that the best choice is to work with a real estate buyer. To learn more about a program, contact us today!