Wondering about the ins and outs of selling your home during a divorce in Portland Oregon? This article dives into some things you should consider.
With over 50% of American marriages ending in divorce, many Portland Oregon residents are looking for advice on selling a home during a divorce.
A home is frequently one of the most valuable joint assets. Obviously, it cannot be divided without first liquidating. While divorce is one of the most stressful and emotionally charged life events, it’s important to remain rational. There are several factors to consider when facing a divorce.
Determine if (and when) You Will Be Selling Your Home During Your Divorce in Portland
In many divorce cases, one spouse will keep the home, buying out the departing spouse’s share. In some cases, agreements are made where one spouse uses the house for a set period of time (usually when there are children in the home), and then sold on a certain date (usually when the children reach a certain age).
Get Professional Help – Agents or Investors
Selling a home by itself is a demanding and difficult process, even when everything goes right. Selling a home during a divorce is one of the most stressful experiences one will endure during their lifetime.
There’s lots going on, and a lot to consider. For this reason you shouldn’t take on the task of selling your home yourself. You may have disagreements with your spouse about selling price or a thousand other issues. By working with a real estate professional you’ll both have a neutral third party to help you determine a fair price and how to market your home.
If you need to sell your Portland house fast reputable local real estate investment firms like AppleTree Group LLC may be a great option. We actually buy houses, rather than just listing them as agents do. We will offer a fair price, pay cash and close quickly. You don’t worry about curb appeal, clean-up, showings, realtor negotiations, or buyer financing.
However, if you can wait the time it takes to list your home with an agent and sell it on the open market, going with a realtor is your best bet. If you can’t wait the 3-6 months it often takes to sell a house in Portland… chat with us to see what we can offer.
Set (and stick to) a Timeline
It’s important, when selling your Portland house during a divorce to decide on a timeline.
We recommend that you should put your home for sale in advance of finalizing the divorce. Set firm closing dates, moving dates and times, and coordinate which spouse will be handling the sale, or talking to the real estate professional. Make sure that each of these agreements are in writing. Negotiate penalties for breaching the agreements and provide a mechanism for holding either party accountable. This will help ensure a smooth, surprise-free home sale.
From personal experience (not my own), selling during or after the divorce judgement is not the preferred strategy. In this particular case the husband wanted the house and the wife was in agreement. The final judgement stipulated that the wife would be indemnified if the house was not transferred to the husband’s name within one year. After one year the wife had the right to sell.
At one year the husband sought alternative financing but was unable to meet lending requirements. In the meantime, he quit making payments and the house went into foreclosure, unknown to the wife. The mortgage company sued both and, despite her indemnification, the wife’s credit was trashed. Even with a legal judgement there was no process to ensure accountability of the husband to transfer ownership prior to the sale.
Selling Your Home Fast For A Fair All-Cash Price
One option that many divorcing couples have turned to in recent years is making a quick sale to a real estate investor like AppleTree Group LLC. Reputable local real estate investors like us, purchase houses quickly and with minimal stress. The process can sometimes take as little as ten days.
The Bottom Line
Deciding how to sell a marital home in Portland shouldn’t be as stressful as the divorce itself.
Protecting each party by using a qualified real estate agent or simply jointly deciding to sell fast to a real estate investment firm like AppleTree Group LLC, will move the process along quickly according to an agreed upon schedule. All parties can walk away from the sale with minimal stress (due to the sale of the house at least).
If you want to discuss selling your home during a divorce in Portland ask if we can help you save time, reduce stress, and get you out of your situation fast…
Give us a call anytime at (971) 246-7954 or
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We’ll evaluate your house and make you a fair, all-cash offer. You decide if selling your house to us is the best fit for your needs. We’re here for you, just reach out and lets chat.
Fruit From the AppleTree.