Divorce is never easy. Full of tough decisions and hard emotions, a divorce in Fallbrook can feel like the end of the world. With so many decisions to make, it’s easy to feel overwhelmed. One such decision has both financial and emotional repercussions: what to do with the family home.
If you’re experiencing a divorce in Fallbrook and are unsure of what to do with your family home, we are here to help. Below we explore 3 options to consider as you transition to the next chapter of your life. If you do decide to sell, consider giving us the opportunity to sell your house for you. We can give you peace of mind with your sale with our exclusive Seller Guarantee that pledges that we will sell your home at the right price in the right timeline or we will buy it from you.
3 Options: Your House’s Future After Divorce in Fallbrook
When selling your home during a divorce in Fallbrook, you have three options:
- Sell your home and divide the proceeds
- Stay in the home, buying out your spouse
- Keep the home as co-owners
Each option has its own pros and cons that will influence which choice is right for you.
1. Sell Your Home and Divide the Proceeds
One housing option during a divorce in Fallbrook is for both parties to sell the home together and then divide the proceeds. This route can help parties pay for moving and new living arrangements, as well as cover some of the costs associated with the divorce. It also gives both parties a fresh start and the chance to start over in a new house.
2. Stay in the Home, Buying Out Your Spouse
Another way is for one spouse to buy out the other and transfer ownership. Note that the amount of the buyout may be more or less than half, depending on the state in which you are divorce, the existence of prenuptial or postnuptial agreements, and any terms of your divorce agreement.
Taking over sole ownership of your home isn’t always easy. Before going this route, carefully consider whether you can afford to keep the home on just your income.
3. Keep the Home as Co-Owners
This is the best option when either one party can’t afford to buy the other out or if it is the parents’ desire to keep any children living in the home.
For this arrangement to work, it’s important to get all the details settled and in writing. From who will pay what to when payments will be made will help keep the arrangement going smoothly.
Sell Your Home During a Divorce in Fallbrook With Your Home Sold Guaranteed Realty - The Pabst Group
If you’re experiencing a divorce in Fallbrook, we know that the stress of deciding what to do with your home can be overwhelming. Let us help you make the transition easier – simply call us at (760) 463-0099, contact us here or fill out the form below.