If you’re in a situation where you’re needing to sell your house after a divorce, it’s likely that you may be feeling stressed and overwhelmed. These are very normal emotions to feel, as divorce is one of the most challenging situations a person can go through – particularly if property is involved.
While the situation may be challenging, you’re not alone, with thousands of couples going through divorce every year and needing to navigate a property sale.
In this article, we’ll guide you through the process of what happens when you need to sell a property in a divorce, as well as tips on timing, whether you can be forced to sell your home and also how to go about selling a property after separation.
What Happens When You Have To Sell Your House In A Divorce?
There are a few things that happen when you have to sell your house in a divorce situation.
The first is to determine how the house will be sold. It could be that one partner is purchasing the other’s share of the property, particularly if small children are involved and the aim is to keep disruption in their life to a minimum.
Alternatively, it may be that the house is being sold by both parties and the divorcing couple will share the profits of the property sale. In this situation, you’d need to instruct estate agents to help you sell the property, as well as solicitors to ensure the proceeds of the sale are divided fairly.
The net equity received by each partner will either be agreed between the two parties or by the courts, depending on the divorce situation.
Is It Better To Sell A House Before Divorce?
While it’s not essential to sell a house before divorce, it can make certain aspects of the process easier for both of you.
The main benefit of doing this is that you can both achieve your own space quickly rather than having to cohabit longer than you’d like. This will also allow you both to move on and liaise through solicitors which can make situations more amicable.
Another benefit of selling a house before divorce proceedings will allow you to fully discuss how the finances of the property will be split, prior to involving solicitors. This will avoid haggling/disagreement in the future when the divorce is finalised and will save you both a lot of time and stress.
It can also be helpful to have the funds from a property sale prior to divorce as this will enable you to pay for fees involved such as solicitors costs. Organising a divorce can be expensive, so if you have some funds handy from a joint property sale this will help as you’ll already be prepared with the finances.
Can I Be Made To Sell My House In A Divorce?
If you or your partner do not want to sell the family home in divorce proceedings, there are a number of steps that can be taken.
The main option here is for one partner to buy out the other. This means that one partner would own the property outright, and maybe the best option if you share young children, as this allows one parent to remain living in the property to provide stability for the children involved.
While the courts can force the sale of a property on divorce, there are usually other options to consider prior to taking this route.
How Do You Sell Your House When You Separate?
When selling a house due to separation, there are two main routes that most separated couples go down.
The first option is for one partner to buy out the other as discussed above. This would mean that the partner buying the home would provide the other with a lump sum based on an up-to-date valuation of the property, resulting in the partner buying the property having full ownership.
The second option is for the home to be sold and the proceedings to be split between the two parties. Once the property is sold each partner would then find new places to live.
How We Buy Any Home Can Help
As the UK’s number one property-buying company, we’ve helped many people achieve a property sale while going through a divorce/separation.
If you’re in this situation and require a quick property sale, you can get a free cash offer for your home via our website and you could receive your property funds in as little as 7 days.
We don’t charge a penny for our services, as we claim our fees back from our property buyers. We’ll even cover the costs of your legal representation and surveyor costs to ensure you receive the total sale funds from your property sale.
To get the ball rolling on your Cardiff house sale after a divorce, get a free cash offer via our website today. Our helpful team will be in touch within 24 hours to talk you through the process and provide you with a final quote.