What happens to the home after divorce
After a divorce, judges will divide property according to the equitable distribution method, which means that the court will divide your property in a fair way to each spouse.
Reasons why to sell after a divorce
Insurance, property taxes, house payments, and upkeep can eat away at your finances. The Home Sale Tax Exclusion allows you to exclude up to $500,000 in gains from taxation if you are married and sell a home. The capital gains tax exemptions for someone who is single drop to $250,000. You must have resided in your house as a primary residence for two of the previous five years to qualify for the exemption. If one individual hasn’t been living in the home, it would be wise to sell the house before the divorce.
What couples usually do when divorcing
How to sell your home during divorce
Getting prepared to sell
Choose how you are going to sell
Real estate agent
Another way you could sell your marital home is selling with a local home buyer in North Carolina. Selling to an investor would be the fastest way to sell your home. They can have your house sold in 1 to 2 weeks. They make an offer on your home and pay with all cash. The only thing is you probably won’t sell your home for its market value, but you also won’t have to pay the 6% commission fee when you sell with a real estate agent.
The last route which I would not recommend going is the For Sale By Owner Route. FSBO is when you sell the home all by yourself. I would not go this route if you just went through a divorce because you already have a lot of stuff to worry about in the first place. I would only sell FSBO after a divorce if you already have a buyer lined up, like family or a friend.
If you need to sell as fast as possible
As mentioned earlier, the fastest way to sell your marital residence home after a divorce would be to sell to an investor/we buy houses company. They will give you a cash offer and can have your home sold in a few days. When selling with an agent or selling by yourself, it will usually take at least three months.
Simple tips to make your home sell for more money
You can do some small things to make your home sell for more money, like making small improvements to the yard and even just cleaning the inside of your home to make it look more presentable.
Clean and declutter
Remove personal items
Improve curb appeal
Accepting an offer
Dividing the profit from the home
Selling your home after a divorce in Charlotte North Carolina
When selling your home after divorce, you first have to decide what you will do with the home. If you and your spouse both agree to sell it, you have to decide how you will sell it. The best two options for selling your home after a divorce would be selling with an experienced real estate agent or selling to a professional home buyer.