Cash House Buyer – Selling a House During Divorce

It’s stressful enough having to go through a divorce. This can be compounded if you are faced with having to sell your home. Our Cash House Buyer team is sensitive to this type of situation. If you feel stuck, there are some options that you may want to look at, as well as things you will need to consider.

Short Sales and Paying Off

It can be difficult selling a home if you owe more on the mortgage than the value of the home. This would require paying the difference off or opting for a short sale, which means selling for less than the home is worth. You do need to keep in mind that both of your credit scores will be affected with a short sale, and you can both be responsible for whatever is left owing on the loan. Some lenders will opt to release sellers from any liability for a short sale.


Another option for selling when divorcing is refinancing. In this instance, one person will need to let go of the home while the other refinance. The person refinancing needs to have a stable income and good credit. It can be difficult to get one person’s name of the mortgage if the other is keeping the home. This would mean that the other spouse needs to apply for a new mortgage. In this case, credit and finances would need to be re-evaluated and in many cases, their monthly payments or interest rate would increase if they were to take over the mortgage on their own.


If you are selling the home, you will need to consider where you will move to. Will you buy another home or choose to rent? This can depend on what you can afford monthly. You need to think about whether you want to remain within the same community and if you will have to change school districts if you have children. Then there is the cost of moving to think about.

Tax Consequences

In some situations, you could be forced to pay a capital gains tax if you decide to sell the home, which can be expensive. This may mean having to sell assets before you get a divorce. It’s something that needs to be done the right way or you risk some big tax implications.

Selling Quickly 

If you choose to sell the home, you will want to get it done as quickly as possible. This means working together and agreeing on things, such as making repairs, fixing the home, and how much to sell for. If you spend time arguing over these things, it will take longer to sell and you risk having the home go into foreclosure.

Realtor or Cash Home Buyer?

Many sellers will use a professional realtor to sell their home. This can take time though, and it can be costly if the home needs to be repaired before selling. You also have the expense of closing costs to deal with. If you need to sell the home quickly, you could take a less conventional route and sell it to a cash house buyer. A cash house buyer will buy the home as it is, so you don’t have to make costly repairs. They also have a quicker turn around time and you won’t be paying the fees that you pay when using a realtor.

If you are going through a divorce and need advice about selling and mortgage options, give our Cash House Buyer team a call today!

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