If you’re in the unfortunate predicament of having split with your partner and are in the process of dividing your assets, your home could become an obstacle to you moving forward.
Whether you’re getting a divorce or dissolving a civil partnership, your most significant financial asset is usually your home. Consequently, it requires you to make the toughest decisions.
What are your options?
Can one partner afford to buy the other out? That way, it becomes more straightforward, as one side stays put and the other moves out and sets up a new home.
Or, as a compromise arrangement, you could transfer a percentage of the value of the property to one partner as part of a financial settlement. However, the party who has given up a portion of their ownership still has a stake in the home and would receive a percentage of its value if it’s sold.
Alternatively, you could opt to keep things as they are, particularly if children are involved, and you both retain ownership of the property while just one partner continues to live there and the other moves out.
What if you have to sell?
If you can’t afford to pay the mortgage on your own or find a new home without funds from the old one, then your only option is to sell.
In theory, this should be a simple process as you both move out of the property once it’s sold. The money from the sale can then be used by each of you to put towards a new home.
However, selling a property in Basingstoke can be a long and complicated business. From the time you first contact an estate agent to the time you finally complete on the sale could stretch into many months or even years.
The cost of selling your home in Basingstoke
Aside from the emotional pressure, there’s also considerable financial pressure when you come to sell your home.
First, you have to carry on paying all the bills while you both, or just one partner, lives there. This can generate tension and add further stress to the divorce. Often, a divorce can only be truly settled once the house has been sold, and each party has received an equal share of the profits.
However, if you go through the traditional route of marketing your house, it can be a lengthy process – and an already fractured relationship can deteriorate even further during this time.
How you can sell your property in Basingstoke fast?
An alternative to putting your house on the market and dealing with estate agents, surveyors, etc. is to sell your property for cash.
To avoid being trapped in an acrimonious situation with no end in sight, a cash sale can help to speed up divorce proceedings. It takes away one of the most significant obstacles to achieving a final agreement.
Instead, you have the certainty of a fully guaranteed, legal and fast house sale. All legal fees associated with the sale of your property are covered, and you gain speedy access to your cash.
As a result, you have the freedom to walk away from a difficult chapter of your life and move forward into happy times.
Would you like advice on selling your house for cash?
Sell Your House Quickly Basingstoke provides a professional, reliable and convenient solution to selling your home fast.
Please get in touch with Mark Lloyd at Sell My House Quickly Basingstoke if you have any questions, or you want to request a competitive cash offer to buy your property.
Call: 0800 465373
Text/Whats app: 07703 189658
Or simply complete the enquiry form and we will respond by return.