What Divorcees Should Know About Home Loans & Taxes
Learn How to Handle Your Options When Selling a Home During Divorce
Are you a homeowner in Northeastern Florida dealing with divorce? The situation is likely stressful enough without worrying about real estate. But sometimes, selling a home during divorce is necessary. Learn how to avoid expensive housing mistakes by informing yourself about the process.
One of the many difficult decisions you’re probably facing is what to do with your house. Who gets to keep it? Do you even want to keep it? If you decide to move, what kind of home can you afford?
In turbulent moments like these, the thing that will help you most is straightforward, factual information. Otherwise, you risk making decisions that are based solely on emotion. What you choose today will also affect your future.
Critical decision-making is exponentially easier when you know how your divorce will impact your home, mortgage, and taxes. It can also help if you talk to a real estate or legal expert.
Selling a Home During Divorce Can be Tricky
Firstly, do you want to keep the home or move out? This will depend on your own comfort level and emotional security.
Maybe moving away for a fresh start is better for you. Or, maybe you prefer minimizing the amount of change in your life and want to stay put in your First Coast neighborhood. Sometimes it’s easier to reduce the chaos you’re dealing with all at once.
Whatever path you decide, there will likely be some financial considerations. Get a good understanding of what you can afford and whether you are financially prepared. If you need to move, that will also require budgeting and financing.
More than likely, a refinance on your current home will be required if you don’t simply sell it. If you do sell, downsizing could the best decision financially.
Ultimately, there are four possible options:
- Keeping the house and living in it
- Selling and splitting the profits
- Buying out your spouse’s half
- Letting your spouse buy out your half
In all of these scenarios, there are things you should think about in advance.
Get the Information that Will Give You Unbiased Facts and Strategies
To help you learn how to avoid expensive housing mistakes during your divorce, Your Home Sold Guaranteed Realty-The Phil Aitken Home Team has a FREE special report. It’s called, “Divorce: What You Need to Know About Your House, Your Home Loan and Taxes.”
In this guide, you can see how each of the four options may change the steps you need to take. It’s all laid out clearly and without emotion. When you know exactly what your choices are, it’s easier to remain objective. Plus, if you need extra help from a neutral third party, you can give us a call at (904) 544-5252.
Divorce is difficult and we can’t change that. But we can help you make real estate decisions that will protect your future.
Get your free guide by filling out the quick form below.