If you are experiencing a divorce in Scripps Ranch, you know that there are many tough decisions to make. From custody to alimony, these decisions are never easy. One tough decision families are faced with is what to do with the family home. While some individuals couldn’t imagine selling their family home, others like the clean break it represents. Regardless of your preference, your friends at Your Home Sold Guaranteed Realty - The Pabst Group are here to help.
Below we explore 3 options you have as a divorcing couple and how these decisions will impact your family. At Your Home Sold Guaranteed Realty - The Pabst Group we understand that deciding what to do with your family home can be overwhelming. That’s why we offer compassionate service and exclusive Seller Guarantees designed to ease the burden during this difficult time. Follow along as we take a deep dive into housing options after a divorce.
3 Options: Your House’s Future After Divorce in Scripps Ranch
When selling your home during a divorce in Scripps Ranch, 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 Scripps Ranch 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 Scripps Ranch With Your Home Sold Guaranteed Realty - The Pabst Group
If you’re experiencing a divorce in Scripps Ranch, 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.