Divorce and selling your house
Divorce and separation take an undeniable toll on our emotions. Whilst dealing with the emotional repercussions we often forget the complex financial and legal issues that also follow. For many couples and families, the largest asset involved in a divorce is the family home and there is no cut and dry outcome as to how property is handled.
What happens to the house during a divorce?
What happens to your home is completely up to you and your partner. In a perfect world with the help of a solicitor the two of you will make a decision, that you both agree with. This could be one of you remaining in the home, one party buying the other out or selling up. However, divorces are difficult times and tensions can be high, resulting in a lack of communication about how to tackle assets. In this situation legal professionals will step in to make sure the settlement is fair. If you have children under the age of 18 their welfare is and will be paramount in any legal proceedings.
Can my ex-partner sell our house?
Most people do not know that until a divorce is finalised you both legally have the right to remain in the marital home. Even once a divorce has been granted, you are still not obligated to sell. If you have children under the age of 18 most legal bodies will grant the remaining parent the right to live there. However, regardless of circumstances, exes will be considered and sometimes (particularly if there are no children involved) selling up is the fairer option so that you can both benefit from the capital.
Having an outstanding joint mortgage following a divorce or separation can be difficult. During a divorce the mortgage still needs to be paid, regardless of who is or isn’t living in the property as you are both liable for the debt. Not paying your mortgage can damage the credit history of both individuals and result in repossession if the case were to go to court.
Selling a house after divorce
This can be a mutual agreement or an act decided by the courts. Before putting your home on the market, you should consider:
- How much your house is worth?
- What method of selling would be best for you?
- Do you have somewhere to live?
If you would like a quick and simple house sale there is an alternative to the traditional open market route. Get in touch with us today to discover how we can make selling your home, during or after a divorce, as stress-free and seamless as possible.
If you want an easy and efficient divorce house sale solution, simply fill in our enquiry form and we’ll be in touch before you know it.
Sale of you home or an inherited home
The passing of a loved one means dealing with a lot more than grief. In instances where a deceased person leaves behind inheritance, the beneficiary has to face the decision of what to do with it. An inherited property is something that you may have to deal with following the death of a relative or friend. Several options are available to you, including putting the property up for sale. However, selling an inherited home can be a long and arduous process with a lot to consider, during a difficult time. Any assistance you can receive goes a long way during this difficult period of bereavement.
Understand their last wishes
Before you take any steps towards the sale of an inherited home, ensure you are clear about the last wishes of the deceased. You will need to review the Will to learn about the distribution of the estate according to the deceased’s . A Will simplifies things, legally speaking. You can’t sell a house you inherited without showing that it was left to you. Check if the person who passed away has named an executor – the individual responsible for managing the estate. A Will can prevent disputes, especially if it’s a family home where different people might make a legitimate claim. If the person who passed away did not say anything about where to find the Will, you should contact their solicitor. How you proceed with the property sale depends on if a Will is involved or not. The next of kin are usually in charge of an estate in the absence of a Will.
Applying for probate
Did you know as an executor you are responsible for distributing the estate in accordance with the deceaseds instructions? In order to do this you must apply for Probate giving you the authority to not only distributing the estate but access to financial information to assist you in carrying out your duties. Note that probate is not required in instances of joint ownership. If a spouse, civil partner or any other relation you have shares in the property, the part belonging to the deceased automatically transfers to you.
Do you have to pay taxes?
How Inheritance Tax works: thresholds, rules and allowances: Overview – GOV.UK (www.gov.uk)
Get expert help
After handling the legal elements of an inherited house, you can proceed to sell it. This is again a time that we can help you avoiding all the hassle and stress of using a traditional estate agent. You do not have to fret about listing the house, arrange viewings and the selling fees for the estate agent plus VAT. Costs differ for sole agents rather than a multiple agent. However, if, further on down the line, you instruct another agent, ensure your original contract has been fully terminated, as you may otherwise have to pay commission to both agents. Beware of the hidden costs for photographs, brochures, for sale boards and publishing on property portals.
Getting a valuation
At ThisIs247, we can provide an offer for your home within 4/5 days. Our expert property analysts complete a desktop appraisal to value your home based on the details you provide us and our own property research.
Remember should you sell through an estate agent, you’ll need to open up your home for the agent view, in order to provide you with a valuation. Most sellers will arrange for multiple agents to value their home before deciding which agency to use. Take note that some estate agents will sadly over-inflate the value of a property to win the seller’s instruction, before lowering once on the market.
Staging the property
Using a “sell house without an agent” service means you don’t need to stage the property. At ThisIs247, we buy your home directly from you we do not need marketing photos meaning you do not need to spend any time or money trying to make your home look like a show home for marketing material.
Listing the property
Because ThisIs247 purchases your property directly, we don’t need to waste any time with listing the property online, trying to build interest from buyers and orchestrating viewings. ThisIs247 just focuses on the sale of your property.
Taking viewings
At ThisIs247, you will not have to have multiple people come round viewing your property. This means escaping the inconvenience and hassle of arranging and hosting public viewings, having to keep oin top of the house work and garden..
Managing Offers
Managing and negotiating offers with a buyer can be stressful. At ThisIs247, we give you an honest, up-front offer for your property at the start, which you can choose to accept or decline, so you aren’t forced to deal with haggling buyers.
Conducting a survey
At ThisIs247, we arrange for a RICS chartered surveyor to check your property. This is completely free of charge. When using an estate agent to sell your property, you may be required to arrange and pay for the survey yourself.
Paying for a solicitor
You will require your own legal team for the sale of the property, ThisIs247 will pay for the searches and surveyor.