There are few events in life more difficult and trying than divorce and then having to sell a house fast in St Louis. Even the most amicable divorces can be filled with headaches and hardships. Most couples continue to be connected by the issues arising from their divorce long after their matrimonial bonds have been dissolved, especially those couples who purchased property during their marriage that may now find themselves needing to sell a house fast in St Louis.
One of the most contentious issues stemming from divorce is what to do with the family home. In many cases, it is difficult or impossible for a single spouse to maintain the home on his or her own. In other cases, the couple may choose to sell a house fast in St Louis and divide the proceeds, but find themselves bogged down trying to find a suitable buyer. What was once a symbol of a beautiful union can become a lingering – and financially burdensome – reminder of a troubled time.
What options do I have for my house after a divorce?
The options available to you depend largely on how you and your spouse handle your divorce. In virtually every case, it is in a couple’s best interests to reach a settlement on the division of property before it becomes a matter for the courts. This is particularly true of houses and other types of real estate, as they are usually among a couple’s most valuable assets. Once a judge rules on the division of property, you and your former spouse will have considerably less control over what becomes of your home and may not even have the option to sell a house fast in St Louis.
In general, there are three basic options available to divorced couples with regard to their homes:
They can sell a house fast in St Louis – This may be the optimal solution for any number of reasons, the most basic of which is that neither spouse wants to keep the home or that neither spouse can afford to keep the home. In this case, it is best to locate investors that buy houses in St. Louis, MO to work with.
One spouse can “buy out” the other – If one spouse wishes to keep the house, he or she may be able to negotiate a plan to purchase the other’s share. In such cases, the spouse who wishes to keep the home often has to take out a new mortgage, which adds an element of risk to the transaction.
The couple can continue to “co-own” the home – This option is often chosen by couples who have children whom they do not want to uproot from their homes. The success of post-divorce co-ownership depends on several factors.
Many people want to keep their homes for sentimental reasons, while others simply don’t want to go through the inconvenience of having to move or finding a place to sell a house fast in St Louis. Whatever reason you may have for wanting to keep your home, be sure to weigh it as objectively as possible against the effect that keeping it would have on your financial future. To learn more about how to sell a house fast in St Louis after a divorce contact St. Louis Realty Advisors at (314) 227-0000.