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Divorce And Your Home; How To Avoid Costly Housing Mistakes During Your Divorce

If you are thinking about divorce or you are in the middle of navigating the muddy waters of the process, you are not alone. With any divorce, emotions run high; therefore, it is hard to focus on transactional items like your home. What you need most are some non-emotional, straightforward, specific answers.

Your Home Sold Guaranteed Realty By Gupta Group can be that unbiased guide you need to help navigate you through the process. 

How To Decide If You Want To Live In Your Home Or Sell It During A Divorce

Let’s face it. Divorce is hard. It comes with many difficult decisions. The most important one is what to do about your home.

First, you will need to decide if you want to continue to live in it or sell it. There are many factors to consider before making that decision. The first step is to ask yourself the following questions:

  • Does your home bring you comfort and emotional security?
  • Does your home remind you of unpleasant memories?
  • Do you want to minimize change by staying where you are?
  • Do you want to sell your home and move with a fresh start?

Only you can answer those questions but we help you ask the right questions to make informed decisions based on what is suitable for your situation. If your choice is to sell your home, you have four options.

What Are Your Four Housing Options When Going Through A Divorce

It’s important to know your options for your home while going through your divorce. Here are the four options you have when it comes to your home.

1. Sell The House Now And Divide Up The Proceeds

Your primary focus is to maximize your home’s selling price. We can help by getting you top dollar for your home. We guarantee your home will sell for top dollar. We will help you figure out your net proceeds after selling expenses and try to determine your split of the profits. 

2. Buy Out Your Spouse 

Suppose you intend to keep the house yourself. In that case, you’ll have to determine how you’ll continue to meet your monthly financial obligations now that you only have one salary. You will need money or assets to buy out the portion of equity they have in the home. 

3. Have Your Spouse Buy You Out 

If you are the one who is leaving, you have the opportunity to start over in a new home with cash in your pocket. However, be aware the home should be refinanced to release yourself from any obligation or liability because if you don’t, it may make qualifying for a new mortgage difficult for you.

4. Retain Joint Ownership 

Some divorcing couples postpone a financial decision about their home and retain joint ownership even though only one spouse lives there. When you are ready to no longer have joint ownership, you will want to keep your eye on tax considerations which may change from the time of your divorce to the time of the ultimate sale.

Your Home Sold Guaranteed Or I’ll Buy It Back

If you are selling your home due to your divorce, Your Home is Guaranteed to Sell at a Price Acceptable to YOU, or We’ll Buy It for Cash!

Before you do anything, read a FREE special report prepared by industry experts entitled “Divorce: What You Need to Know About Your House, Your Home Loan and Taxes” 
Reach out to us when you begin your home selling process. Give us a call at 408 740 7400 or fill out the form below for more

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