When getting divorced, there are many factors you’ll need to consider before you transition into the next chapter of your life. From dividing up your property to engaging in custody discussions, you must make serious considerations. One thing you may wonder is whether or not you should sell your house before, during, or after your divorce. The following blog explores when the best time to sell is while explaining how a Hackensack, New Jersey divorce lawyer can help you through this challenging process.
Is It Better to Sell Your House Before or After Your Divorce Is Finalized?
When it comes time to separate from your partner, you may not know the best time to sell your home. However, there are advantages and drawbacks to selling your property before, during, and after your divorce. Unfortunately, there is no “right” time to sell, so you must weigh all the factors to determine what works best for you and your family’s unique situation.
It is mostly agreed that selling during your divorce isn’t always the best option, as many realtors and potential buyers may be able to determine that you’re divorcing, and likely need to sell the home quickly. This means they will likely use it as leverage to get the property for significantly less than the asking price.
Selling before or after the divorce is finalized is the most common option, but each has pros and cons. Selling before allows you to move on easier and allows you the funds to put towards a new life. However, it can delay your divorce and means you and your spouse must be on the same page throughout the selling process. Similarly, putting your home up for sale after the divorce has gone through allows you to have an easier time selling as you are the only spouse involved and have more time to make plans for after you move out. The downsides, however, include being the sole party responsible for making the decisions which can be a lot of pressure, and it could leave you tied to your ex longer if you both remain co-owners of the home.
What Should You Do if You Need Help?
When you’re having trouble with your divorce, whether you’re unsure when the best time to sell your home is, or if you don’t know whether or not refinancing the mortgage to be off the loan, an attorney can help.
You have many important considerations to make when going through a divorce, so ensuring you hire an attorney is vital to improving your chances of achieving the best outcome. If you’re going through a divorce, HD Family Law can help. Our dedicated legal team will work to ensure you can transition into the next chapter of your life as smoothly as possible. Contact us today to learn more about how we can help you.
