When “I do” becomes “I don’t”
Divorce is difficult enough without real estate contracts involved. However, many times there are homes involved in the process and timelines to meet regarding their sale or financing.
The sale of a home through a traditional brokerage/realtor can be time consuming and, added to a possible legal time crunchtime-consuming, can cost thousands of dollars lost to negotiations and fees. Broker fees, inspection fees, permit fees, repair/renovation, moving expenses, and quick sale-price negotiations are all potential costs to handle the sale of the home.
You have a few options, depending on conditions set in place by the court (if any).
Option #1- List your home for sale with a realtor through a real estate brokerage. The home can be placed on the MLS (Multiple Listing Service), allowing buyers from throughout the country to be able to view the home online. This traditional route will have the conventional there are often costs associated. Assuming your brokerage charges around 3% of the home sale price as their fee (a negotiable percentage), this will most likely result in at least a few thousand dollars payments sell Additionally, the home may need repair work or renovations to sell the property. (Example: Some lenders require HVAC to fund a loan; if the home doesn’t have this, you may need to have it installed to complete the sale with buyers using these lenders.) There is no guarantee of a quick sale.
Option #2 – List your home as FSBO (for sale by owner). You can place signs in your yard, place pictures, and a description on various websites (Facebook Marketplace, Craigslist, etc.). You’ll avoid the brokerage fee but lack the access to the MLS and have to find and fill out paperwork on your own, find a title company, and possibly hire an attorney to review all legal paperwork. While this is a viable avenue for some, I would recommend speaking to others who have gone through the process previously and seeking legal advice. Legal liability in regard to real estate can last decades and cause expensive issues down the road. Again, there is no guarantee of a quick sale.
If you find yourself needing to sell the home more quickly than the traditional route will allow, and you’re unwilling to deal with the possible legal mess and paperwork in an FSBO situation, or if you know the home needs work and just aren’t in the position or mood to deal with it, consider reaching out to us.
If we can buy the home, we generally can close on it within a few weeks (assuming a clear title) and will gladly handle the paperwork. Additionally, we don’t charge any fees to you. Call or text us at 940-255-7227 or email us at email@example.com.