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There are numerous things to take care of when going through a divorce, especially if you have shared assets with your ex-partner. When looking to speed up the divorce process for all involved, you may need to make a quick decision on selling your house. However, this is one thing you have to pay close attention to in ensuring that both parties get a fair deal. In this article, we share with you some tips on selling your house during a divorce.

Sort Out the Small Details

It can be a big mistake to overlook the small details, as one party may feel that they have gotten the short side of the bargain. To this end, you will want to determine who’s going to maintain the property until it’s sold, who will be responsible for making the necessary repairs as well as who owns the furniture and other items in the house. 

In addition, you will have to agree on how to split the proceeds from selling the house, which can depend on factors such as if you have a joint mortgage, who paid for upgrades, as well as tax ramifications for both parties.

Know the Worth of Your House

Instead of making a good-faith guess based on the selling price of similar properties, you may want to get an appraisal for your home value. You can also do some research by finding out how much the houses in your neighborhood are going for based on the square footage, the number of bedrooms and bathrooms in your house as well as the condition it’s in. 

Communicate

Although you may not be on good terms with your ex-partner, it’s important to maintain communications. For instance, you may not agree on the lowest price you are willing to sell the property for. Under such circumstances, you may agree to let the real estate agent make their best judgment on your behalf.

Consider a Lien

Sometimes, it can be the case that one party wishes to be responsible for dividing up the assets whereas the other would like to distance themselves from it. If so, you can consider getting a divorce lien, where the involved party gets to organize the division of assets and the other party receives a deed of trust promising them an agreed-upon share of the profits. This can speed things up as you won’t be constantly sending communications back and forth and waiting for the other party to agree.

Consider a Cash Offer

If you simply wish to get your property off your hands as soon as possible, we hear you. Cash buyers such as Modern Feather Properties can make the process quick and easy for you, offering you a fair price after an inspection of your property. After accepting, you are free to schedule your own closing and can split the cash between both parties as agreed upon or as you see fit.