Selling your home after divorce is often a necessity for many people. The financial burden of taking control of the mortgage and running costs of the property are often too much for one person to undertake. The ultimate priority for most couples in this situation is to sell their home quickly, so that both parties can move on and get on with their lives.
Rushing through a sale though isn’t the only factor a couple going through divorce needs to consider.
Dividing up assets is one of the hardest parts of a marital split, with a property more often than not the biggest one to sort.
The person who is going to remain in the house during the separation is one big consideration to take into account. Whoever does move out needs to think about how much that could potentially cost. Moving house does not come cheap, and if someone is moving into rented accommodation those costs can quickly add up.
It is worth remembering that both parties have legal rights to the property – regardless of who is living there – until the divorce is finalised, the house is sold, or a financial settlement is agreed.
An already complex situation can be further complicated by young children, disparity in annual earnings and length of marriage.
Until the house is sold, there’s also the small matter of the mortgage, which unfortunately isn’t going anywhere.
Lenders still exist, monthly mortgages still need to be made, and missed repayments can result in repossession.
Even if you’re not currently living in the property, a joint mortgage will mean you are jointly responsible for repayments.
What can be an extremely difficult process can be made a whole lot easier if an amicable agreement is found from the outset.
If speed of sale remains at the top of your list following a separation then your best option is a property cash buying company, like Hull Cash Buyers, rather than choosing a traditional estate agent or their online counterparts. Why is this?
Property cash buying company benefits
Speed
- Selling your home for cash to a property buying company takes a matter of days; they have direct access to funds and can complete a sale quickly. By contrast, the process will take a minimum of 12 weeks with an estate agent.
- Selling your home for cash to a property buying company takes a matter of days; they have direct access to funds and can complete a sale quickly. By contrast, the process will take a minimum of 12 weeks with an estate agent.
No Middleman
- Home buying companies are your buyer; that means there are no estate agents, banks or other third-parties involved, meaning that the selling process is quicker and less complicated.
- Home buying companies are your buyer; that means there are no estate agents, banks or other third-parties involved, meaning that the selling process is quicker and less complicated.
No fees
- Since you’re dealing directly with the buyer there are no selling fees to pay; that means more money for you. Some companies, like Hull Cash Buyers, will also offer to pay your legal fees if you use their chosen solicitor on completion.
- Since you’re dealing directly with the buyer there are no selling fees to pay; that means more money for you. Some companies, like Hull Cash Buyers, will also offer to pay your legal fees if you use their chosen solicitor on completion.
Less Risk
- When you’re selling your home after divorce, removing potential complications from the selling process is often desired. With home buying companies there is no chain of buyers so the risk of a something going wrong is greatly reduced.
- When you’re selling your home after divorce, removing potential complications from the selling process is often desired. With home buying companies there is no chain of buyers so the risk of a something going wrong is greatly reduced.
If your property is in Hull or East Yorkshire, and you want to sell your property quickly as part of a divorce settlement, then get in touch with our experienced team on 01482 655346. We are experts in managing house sales after divorce and understand that making the process as quick and pain free as possible is important. We will make a cash offer on the same day that we see your property and can exchange within a couple of days dependent on the timeline that best suits you.