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What Happens to a Mortgage After Divorce?

May 15, 2024 • Matthew

Figuring out what to do with a house that has a mortgage after divorce can be daunting.

This type of question comes at a time when your life is probably in turmoil. This is just one of many questions that you have to find answers for and decisions that you will have to make, among who gets the house after a divorce, and what a divorce buyout is. Chances are you have a lot of questions, and a lot of assets to deal with in your divorce settlement and the matrimonial home is the most significant one.

When it comes to the mortgage it can mean that the division of the equity in it has to be determined.

Then it may mean trying to decide whether the home is to be sold. There may be liabilities regarding the home that have to be dealt with.outside house. what happens to mortgage after divorce?

Responsibilities for the Mortgage

Responsibilities for the mortgage after divorce are not something that most deal with on a regular basis so it is understandable why there would be so many questions that arise pertaining to it.

One of the common questions is whether the house does have to go through a sale so the equity can be divided. There is an alternative to this where one party can buy out the other. If this is the route that is taken, usually the spouse that is going to buy the home will have to go through a mortgage assumption it so they can pay the other spouse their share of the equity.

To find out how to remove a spouse’s name from the divorce, please visit this article.

What has to be decided quickly when it comes to dealing with the mortgage after divorce is who is going to be responsible for paying it.

Who Pays the Mortgage After Divorce?

divorce splitting assets

If the mortgage has been held jointly then legally both spouses are equally responsible for making payments.

If the mortgage is not paid the lender can come after both parties. During the divorce agreement, it should be legally determined who is going to assume the mortgage payment responsibility.

There are times where agreements are made between a couple to just transfer the title to the other partner. This can be done with a quit claim deed.

This means the party signing over their ownership will no longer have any claims to the property.

That does not mean that the spouse giving up their rights to the property is no longer responsible for the mortgage after divorce. To prevent this there has to be a transfer of liability. This can be done by the spouse who is taking ownership by taking on a mortgage assumption or arranging for a loan modification after divorce.

In most cases, the better route to take is to assume the mortgage which will then have the responsibility for paying it moved over to the spouse who is going to keep the house.

This will only work if the spouse applying for the mortgage assumption meets the criteria put in place by the mortgage lender. If this is the case then it may be possible to obtain a home equity loan for refinancing.

What if There is Not Enough Equity in the Home?

divorce house

Not every couple going through a divorce is going to realize a profit from the sale of the home, and that selling it will clear off the mortgage.

There are times where the value of the home is lower than the mortgage. If the buyout partner cannot qualify for a loan modification after divorce or come up with other ways to buy the house it creates a difficult situation.

What could possibly be arranged is putting off the buyout or selling the house. It means an agreement would have to be reached to this effect by the two spouses. If this cannot be done then the next alternative may be a short sale.

A Short Sale To Deal With The Mortgage After Divorce

If a short sale is being contemplated to deal with the mortgage after divorce, there have to be some negotiations made with the mortgage lender.

This means that the house would have to be sold for less than the amount of the mortgage. While the mortgage lender is losing money with a short sale this option helps to relieve a lot of the hassles that the lender would likely have if they were to foreclose and sell the house themselves.

It can also mean that the mortgage after divorce that is subjected to a short sale will still leave both spouses with a liability. The lender may hold them responsible to pay the difference owing on the mortgage after divorce sale.

Overall most feel that this is still a better option than dealing with a foreclosure.

Dealing with the mortgage after divorce issues can be really stressful. It may be that the housing market is just not right to consider a sale of the property.

windows on a house

Although both parties want to bring some closure to the situation it may be far better financially for both to hold onto the house and sell it when the market is right. Making this type of decision is all going to depend on the current financial positions that both spouses will find themselves in after the divorce.

Another reason that many would rather deal with a mortgage after divorce is if there are children involved. There has probably been enough turmoil in the family and it’s a better option not to have to uproot the children from the home they are used to.

There are a lot of decisions to be made and some substantial work ahead of the spouse who is trying to buy out the house.

However, it may be worth it when everything is properly considered. It is also important to rely on the right resources.

Both parties should have their own divorce lawyers to assist them with writing up the agreements, and to ensure both parties are protected when it comes to the mortgage for the family home.

If the house is going to be sole then relying on a reliable and trustworthy realtor is important. If re-financing the mortgage after divorce is viable then finding the proper lenders is going to be a priority. It may be based on the financial situation that holding onto the house in both names for a period of time may be the better solution. It is important that all options be carefully considered.

Sell Your House After a Divorce

If you are trying to sell your San Antonio house after a divorce, Matt Buys Houses TX will give you a cash offer as soon as 24 hours!

To get your cash offer, or to get answers to any questions you have, call us at 210-596-9669. There are no obligations in contacting us!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

How to Find a Cash Buyer For Your San Antonio House

May 8, 2024 • Matthew

You’ve decided you want to sell your house for cash in San Antonio. Now it’s time to find a cash buyer. I’m going to show you how to find a cash buyer for your San Antonio house.

In my previous articles, I talked about the benefits of selling your home to companies that buy houses as is for cash. But do you really know how to find a cash buyer for your San Antonio house?

Guide for How To Find a Cash Buyer

how to find a cash buyer when selling a house

When looking for a buyer, always do an extensive search and find all options before making a decision. This will ensure that you will end up selling your house to a person or a company you actually trust.

Real buyers are just as reliable as any real estate agent, if not even more. But you just have to know these tips and tricks on finding the safest and the best in the business.

Best websites on How To Find a Cash Buyer

The first thing most people do when trying to find a house investor is using the ‘find a cash buyer’ keyword. But why do that when you can go directly to these sites, search for companies that buy homes and sell your house fast?

websites on how to find a cash buyer

Craigslist

Although Craigslist often has a bad rep for being unsafe, it’s an incredible website when you want to find investors. And you CAN do it in a safe way.

BiggerPocket’s article on Finding Buyers on Craigslist offers a fantastic insight on everything you need to know about home investors on Craigslist.

In a short summary, the article explains that the best way is to search in the ‘real estate wanted’ section as well as post your own ad. It identifies two types of Craigslist’s investors – passive and aggressive. This is how to find a cash buyer fast.

With a passive way (creating a simple ad stating your business), he suggests using WuFoo which allows you to create simple forms to keep your potential buyers organized.

And here’s how to find cash buyers on Craigslist’s effectively using the aggressive method:

  • Write down all house buyers and call them.
  • State what you’re looking for and give all necessary information – use this to create a list for the future.
  • Ask them if they are cash house buyers – if they say yes, BINGO – you found them.

Check the Yellow Pages

check yellow pages on how to find a cash buyer

This might be an old-fashioned way, but yellow pages always have a real estate section where you’ll be able to find the oldest and some of the most trustworthy cash buyers in San Antonio. Here’s the link to the San Antonio yellow pages where you can search for the ‘cash house buyers’ and find all relatable services. Then all you need to do is give them a call and arrange the whole process. And if you decide to go with Matt Buys Houses TX, your house can be sold for cash in less than a week!

How To Find a Cash Buyer: Other Sources

We’re not even close to being done yet. When it comes to real estate, some of the best opportunities can be missed due to focusing solely online. Here’s a few ways to learn how to find a cash buyer in San Antonio without having to use the internet:

San Antonio Real Estate Investors Association

SAREIA might have some answers you are searching for. Think of it as a database for investors – not only will you be able to find your cash buyer, you will also be able to network with other likeminded investors. It’s a fantastic way to get insight into the real estate business and ask all questions you might have – you will find people who have already gone through the house selling process, probably more than just once.

 

Check out the ‘we buy houses’ signs

San Antonio has a lot of ‘we buy houses’ signs that have probably grabbed your attention before. But have you ever tried dialing the number and seeing what happens? When calling a potential buyer, they’ll be able to answer any questions you might have about their company and the entire house buying process in general. It’s the best way to establish a relationship quickly and effectively.

Ask local real estate agents

Similar to the aggressive Craigslist option, you can also ask local real estate agents if they know of any potential buyers in San Antonio. While most might not want to give you information that can drive away their business, you can find honest real estate agents that are just passionate on the subject and willing to help you out. You never know – maybe some work as a buyer on the side!

Word of mouth

talking about how to find a cash buyer

Have you ever wondered if your neighbor might be the one that has a good house buying business? It never hurts to ask your neighbors if they know someone – sometimes the business is so good and local you don’t even need to advertise it.

Always ask around – talk to your family, tell them to ask at their workplace or simply go to the locals in the area. If you know someone who has been living in San Antonio for a very long time, they will probably know a few tricks of the real estate trade. And hey, you’ll also make some new friends along the way.

We buy houses!

Still not happy with your choice? Don’t forget – you already are on the blog of a cash house buying company, Matt Buys Houses TX. Not only do we offer cash for your house, we are also giving you all necessary insight into the real estate business. Whether you have questions about relocation, divorce, stopping a foreclosure, renting out your house or you just want to know more about selling your house fast, just browse through our blog.

We buy houses in San Antonio and can make you a deal in less than 1 day. We buy houses in record time – as little as two days! Got repairs? It doesn’t matter!

Fill out this fast cash offer form and we’ll give you a call with an offer – your house could be easily sold in less than a week without any hassles. We’re also able to answer any questions you might have on real estate in general.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

How do I Sell My House in San Antonio Without Making Repairs?

May 1, 2024 • Matthew

Selling a home can be a daunting process for the average homeowner. You’re probably stuck thinking “How am I going to sell my house without making repairs on it?”

Hiring a reputable realtor, agreeing on a fair market listing price, and having potential buyers inspect your home for possible defects while spending months on the market can cause anxiety.

For sellers owning a property needing extensive repairs, the hardships of selling can be overwhelming. Sellers with pristine homes spend money and time to attract the ideal buyer; sellers needing to sell their home without making repairs need to spend more to compete. For homeowners looking to sell fast, selling your home without making repairs might be the best option.

sell your house without making repairs

Before embarking on the selling process, homeowners must weigh their options to determine the most economical solution. Smart sellers will compare the cost of needed improvements to the home’s market value after making the necessary repairs.

If the major repairs won’t provide a reasonable return on investment, homeowners may decide to sell as-is. Homeowners can effectively resell their fixer-uppers on San Antonio’s hot seller’s market at a reasonable asking price and skip making major repairs altogether.

Pitfalls of Making Repairs

While some minor repairs can be made without much effort, major repairs can require ample time and money before closing. Many sellers are faced with addressing major plumbing and electrical repairs or outdated safety code violations.

Serious buyers will create a list of all defects after an initial inspection; if the seller is unwilling to fix them before closing, buyers will demand compensation by siphoning potential profit from the home’s asking price. For sellers with homes needing major repairs, this requirement can be costly and a much-needed home sale will fall through.

Before signing the final closing agreement, sellers often agree to repair contingencies. These legal and binding contracts state that no sale is final until certain home repairs are made to the buyer’s satisfaction. Should major damage and repairs be unearthed during a home inspection, the homeowners are forced to pay or fix those issues before closing.

saving money without making repairs

Homeowners can often be blindsided by structural home repairs after a buyer’s inspection, causing the seller to fix these unexpected repairs with financial forewarning. While most real estate sales contracts include these clauses, sellers can avoid this unnecessary hassle by selling as-is.

Another common disadvantage of repairing a fixer-upper before selling is the inspection and appraisal process. It’s common for these tools that assess one’s property to favor the buyer. While inspections are necessary to determine the condition of a home, many inspectors hired by buyers will list all infractions a home may have, including questionable, minor repairs.

Buyers will then use this information to request additional compensation at closing to fix these insignificant issues. In addition, any repairs newly discovered during a home’s appraisal must be addressed before closing. Once a home’s issue arises during either the inspection or appraisal process, it becomes a material fact that must be disclosed to any future buyer interested in the property. For sellers seeking a quick and clean close, the home inspection process can be brutal.

Selling As-Is Without Making Repairs

There are a few key suggestions to consider before signing a closing contract when selling a home without making repairs. When listing your home as-is, be upfront about the home’s condition. Buyers seeking fixer-uppers will be drawn to the home’s potential for remodel while bargain hunters will gobble up the possibility to resell for profit.

This tactic will ensure you receive serious buyers interested in your property and root out buyers who expect an updated and recently remodeled home.

selling to us without making repairs

It’s also important to be mindful of the listing price. While neighborhood comps can give the homeowner a general ballpark about the overall value of the home, sellers must consider the cost of repairs when pricing initially. Prices of fixer-uppers should reflect the amount of time and money buyers may need to spend.

To sell your home without making any major repairs, homeowners must be willing to price the property at its current value and without overestimating its worth.

Remember, selling a house as-is does not relieve the homeowner from disclosing material facts or other known issues with the property. If a buyer proposes a serious offer, sellers are legally obligated to disclose any and all pertinent information about the home, including necessary repairs.

If the homeowner is unaware of the general condition of the home – due to inheriting the property or other circumstances – they are exempt from providing a property disclosure at sale.

Cash House Buyers

When selling a house without making repairs, homeowners will most likely hear from two types of buyers: those interested in purchasing the property for themselves and those interested in making a profit at resell. While the former want to mold a worn property into their perfect dream home, the latter sees a fixer-upper as an investment.

Both buyers consist of people who pay cash for houses, but buyers interested in making a profit are less likely to demand even minor fixes or repair contingencies before closing. In fact, the poorer the condition of the home, the more tantalizing to companies that buy houses.

cash buyers will buy without making repairs

Real estate investors and we buy houses companies can be found in most major cities and towns nowadays. Their “I buy houses” signs are splayed across public benches and plastered on billboards to offer another option for homeowners wishing to sell fast and clean.

These cash house buyers are legitimate people invested in making fair offers at market value to assist homeowners with the selling process. For owners wishing to sell their house without making repairs, companies that buy houses are sometimes the only viable option.

Before outright dismissing the we buy houses companies, homeowners must consider the difficulty involved in selling a home as-is. Homes without repairs can stay on the housing market or months without a single inquiry. Without lowering the home’s price further, sellers must be willing to consider offers from buyers with the financial means to close quickly.

People who pay cash for houses are serious about speedy sales and can see potential and profitability in homes that are otherwise ignored. Homeowners wanting to sell without making major repairs should consider contacting a cash house buyer to avoid the grueling selling process altogether.

Need to Sell Your House Without Making Repairs?

No problem! We are here to help you sell your house in San Antonio with as little hassle as possible.

At Matt Buys Houses TX, we will work with you to make selling your house as simple and stress free as possible! All you have to do is call us at 210-596-9669! We can have your house closed on in as soon as 48 hours, and will get cash in your pocket. We look forward to helping you!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

How to do a Divorce Sale in Texas

April 24, 2024 • Matthew

Once the decision has been reached that a divorce is eminent, a lot of questions are raised. One of these is, “What happens to the house in a divorce?”

Most often it means that a divorce sale must be carried out.

All of the assets accumulated during the marriage have to be divided.

There will be specific laws as to how this is legally done according to the state you are in. How complicated it will depend on the number of assets and the governing rules. The sale of a home during divorce requires some careful planning and using the right resources.

If you are your spouse are able to come to some amicable arrangements regarding your marital property then the divorce sale should be much easier and quicker.

What happens to the house?divorce sale house

What happens to the house in a divorce is probably the biggest concern as this is usually the biggest asset in a marriage.

First, understanding what the rules of the state that the divorce and divorce sale of the house is taking place in are most important. Some states go by the community property rules. This means, as a rule, all of the assets owned by the couple will be split 50/50.

If the house was purchased together as a couple then the split should be fairly simple. Where it gets complicated is if the house belonged to one of the spouses prior to the marriage.

Depending on the circumstances and the State it may not be considered as part of the community property or the divorce estate.

This is when the divorce sale can become more confusing. It can also get complicated if the house was left as a gift or inheritance to one of the spouses. For these reasons, it is highly important to have proper legal counsel to assist with the division of the assets and to protect the rights of each of the spouses.

Proceeding with the divorce sale

divorce sale refinancing

You will find that you have several options for proceeding with the divorce sale of a home. You have the option of attempting to sell the house yourself. If you decide to do this it means that you are going to have to advertise it and market it as heavily as possible. Some individuals who are going this route will commence with a divorce sale using Craigslist.

There are pros and cons to attempting a divorce sale on your own. There are a lot of legalities when it comes to selling a house. Then on top of this, you will also have to deal with the legalities that come with a divorce sale.

The second option is using a Realtor that is experienced and has the expertise and resources to conduct a divorce sale of a house in a quick manner. You also have the advantage of learning what the housing market for your area is like during this time, which is going to be important.

You will also get a good idea as to what your house is most likely going to sell for. You likely have personal ties to the house and with the personal circumstances you are in at the moment you may tend to over evaluate the house. This could mean that the house will not sell or it would take a very long time to do so.

If possible both spouses should come to an agreement as to what the house should be put on the market for, and this should be compatible as to what the housing market is dictating at the time. If you decide to go through a divorce sale using Craigslist or any other form of advertising you will need this plus a lot of other information to entice potential buyers.

Options on Selling

signing divorce sale paperwork

You may find that once you  get your divorce sale listed that you are approached by investors who are willing to buy your house for cash. If you are wanting to sell quickly this may be an inviting offer. It may be that it is lower than what you wanted but you may need to consider how it works in with the current situation that you are now in. Chances are you and your spouse want to get the assets settled so your divorce can become final.

The divorce sale process is not much different than a regular sale of a house except the timing may be important. Often one party moves out of the home and it can be financially difficult to keep up with the expenses of the house.  There may also be some discussions as to whether one party wants to buy the other out. If this is the case then re-financing of the mortgage would have to take place. In any event, until this asset is sold both are responsible for the mortgage and you don’t want to let this go into arrears.

The party that remains in the home during the divorce sale is going to have the responsibility of making sure the home is show ready for viewings. This may also mean some minor repairs are needed which should be done quickly to encourage a quick sale.

During a divorce sale, the best option is to retain an experienced realtor and perhaps sharing with this expert that this is a divorce sale so they understand the urgency of getting the home sold quickly. It is also important that both parties rely on independent legal counsel for the division of the assets. Neither party wants to take it upon themselves to sell the house or any other asset prior to the divorce without mutual consent as there could be legal repercussions to this. Each spouse needs to know what their rights and obligations are and what the law states about the division of assets.

It is imperative that both spouses come to an agreement that the house is to be sold and at what price. If these factors are not agreed upon it can make it extremely difficult through the sale process when offers come in.

Sell Your House After a Divorce

Matt Buys Houses TX can make you a cash offer to buy the house as-is. You can get an offer on your house within 24 hours just by contacting us.

Click here to get a cash offer for your San Antonio house or give us a call at 210-596-9669. We look forward to talking with you about what options you have.
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Selling a House As Is

April 17, 2024 • Matthew

Selling a house as is to a buying company

There are numerous reasons why a homeowner might want to sell their property as is. Two of the most commonly stated reasons for selling a house as is is due to money and time consumption. Some owners may be financially strapped and unable to make the major repairs required to sell in peak condition. Others consider selling a house as is to ensure a speedy sale. Even with the assistance of realtors and other professionals, it’s not uncommon for sellers to see their property on the housing market for months at a time. The time wasted on market can be detrimental to a seller’s pockets.

find selling a house as is

How to Go About Selling a House As Is

If you seek the advantages of selling your home as is, looking for a dependable house buying company is a must. Selling a fixer upper can require too much labor for most homeowners. Thankfully, house buying companies specialize in buying properties that need major renovations. While other potential buyers will nitpick at your home’s flaws, house buying companies welcome them. This allows homeowners to forgo making expensive repairs before the sale, effectively saving money and time. Homeowners don’t have to worry about buyer complaints after closing either. If you’re considering selling a house as is, finding the right house buying company for you is essential.

Finding the Right House Buying Company

When conducting research on house buying companies, it’s hard not to stumble on “We Buy Houses” advertisements. From the yellow pages to signs planted on the side of busy streets, the popular slogan can be found seemingly everywhere. House buying companies use this line almost exclusively to advertise their unique ability to buy houses outright, without repairs or making any warranties. If you’re selling a house as is, the issue becomes sifting through a vast selection of companies and choosing the best one that will suit your needs.

There are a few key suggestions to keep in mind when choosing to sell your property to a house buying company. These suggestions will allow homeowners to receive the best price and customer service during closing. Remember, a house buying company gives cash offers based on fair market estimates by comparing your home to others in the region in similar condition. This requires house buying companies to extensively research the market area and stay up to date on regulations and procedures that will assist in closing. If a potential company doesn’t seem more knowledgeable about the selling and buying process than you, maybe they’re not a top house buying candidate.

Keep It Local

selling a house as is to local buyers

Another suggestion to keep in mind when picking out the right house buyer company is location. Much like the small business craze sweeping the nation, localized companies offer major benefits to homeowners needing to sell. Local companies have the advantage of knowing the area better, giving homeowners a more accurate estimate when drawing up the cash offer. They have a better grasp on the local housing market. This insider knowledge is pertinent to receiving a better offer for your fixer upper. Many nationwide companies are notorious for low balling sellers to account for unknowns. Local house buying companies know the terrain and aren’t afraid to trek it with a hesitant homeowner.

Local house buying companies also are typically smaller. Unlike national companies, local companies give the added advantage of working with the same buyer continuously. Choosing a local house buyer company means cutting out the middle man. This allows homeowners to earn more money when they sell, avoid hassles, and work with someone that actually knows their neighborhood. It’s a win-win situation for homeowners and small businesses alike. If there’s a choice, always go with a local cash home buying company.

Communicate with the Buyer Directly

Find out who you are working with when selling a house as is.

Although this may sound like common sense, communicating with the house buyer directly is another suggestion homeowners should consider. When on the search for the right house buyer, some sellers may encounter an investor type known as a “wholesaler“. While wholesaling is sometimes seen in poor light, they are no different than other homebuyers. Wholesale real estate investors will close on your time line, and are always interested in you selling your house as is to avoid the stress of you needing to update and renovate it yourself.

The more you communicate with the buyer directly, the more likely you are to feel comfortable selling a house as is to them. Every professional house buying company will be more than happy to not only stay in communication with you, but also work with you to make the selling process as streamline and stress free as possible. They understand how much goes into deciding to sell your house. If you’re not in a position to make the repairs needed, tell them. More often then not, the repairs you need, and the updating required, are all within their scope of work, taking away the stress of selling a house as is.

selling a house as is

Check Out the References

One of the most valuable suggestions homeowners should heed when choosing a house buying company is asking for references and testimonials. If they’re not easily located or readily available online, ask the company’s representative to send a few your way. No, you’re not inconveniencing the representative and it shouldn’t take relatively long. A professional house buying company will not object to verifying that their houses under contract close. If they won’t allow potential sellers to contact the title company they use, the company might have a poor approval rating. If they are unwilling or unable to send an inquiring homeowner references or testimonials, avoid them at all costs. This is a major red flag.

Established companies that treat clients with fairness and respect will have testimonials. Although these are highly biased assessments, the average testimonial will provide a general understanding of the business’s dealings, how transactions were completed, and overall success rate.  Don’t be afraid to ask; references and testimonials will provide insight sellers can’t afford to ignore.

Sell My House As Is

selling a house as is fast

Though selling a house as is can seem daunting, selling to a house buying company can be time and money saving. Utilizing a house buying business helps homeowners avoid buyer complaints after closing while receiving the best price for their property. If you’re overwhelmed by the plethora of companies out there, consider location, the direct buyer, and references and testimonials before choosing the company for you. Remember, not all “We Buy Houses” companies are created equal. Making an informed decision will give you the best house selling results.

Selling a House As Is FAST

Matt Buys Houses TX has made it very simple to sell your house fast and as is in San Antonio. You can get a cash offer within 24 hours and close as soon as you if feasible for you. Find out how much we can pay for your house by calling us at 210-596-9669.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Divorcing? Considering Selling Your House in San Antonio? Here’s How To Do It Quickly

April 10, 2024 • Matthew

When it comes to selling your house during divorce these options are something that you want to review carefully as chances are you want to do this quickly.

The sale of a house during a divorce can be frustrating because of all the other issues that are going on in your personal life. Some of those issues can include who gets the house in the divorce, and dealing with a divorce buyout. The one thing that you also want to keep in mind is that selling assets before a divorce could land you into some legal difficulties.

If it is agreed upon by both you and your spouse that you have no choice but to sell the family home, you can start planning how to do so so that the best possible outcome is achieved.

Selling Your House Fast During Divorce

selling your house in divorce

Naturally, you want to sell your house fast and chances are you have a lot of emotional ties to it.

This could lead you to over valuing your family home. In your opinion it may be worth a lot more than what the market value is going to indicate.

You will need to think realistically about this and be prepared to accept the sale value of your home rather than what you personally think it is worth. If you put it on the market at an unrealistic price the chances of it selling your house fast are very poor.

Many think that when selling your house during divorce, putting a high price on it to begin with is the best way, as they can always come down on the price.

What they don’t realize is that the first 30 days of the house being on the market is when it’s going to receive the most attention. Waiting to lower the price after this period of time is not the best route to take.

Importance of Curb Appeal When Selling Your House

You want your house to show at its best and you can begin by sprucing up its curb appeal. As soon as prospective buyers come to your house to view it it’s the outside that they see and you want this to be appealing.

It may mean no more than cleaning up any debris that is around the home, and weeding the gardens.

Responsibilities When Selling Your House During Divorce

waiting for the divorce to be over and selling your house

You want to be sure that when you are managing your responsibilities that you choose a Realtor that is going to put all of their expertise, knowledge, and resources into selling your house quickly. You can share your circumstances with this professional as they will keep the details confidential. By doing so the Realtor understands the circumstances and will work diligently on trying to sell the home as quickly as possible.

Alternatively, you can sell your house without any hassle at all to a local house buying company. They will buy it as-is so that you don’t have to worry about curb appeal or any other repairs.

If you are going to sell yourself ‘For Sale By Owner’ or through an agent, when you will want to be sure that the interior of the home presents well just as the outside does. When in a situation where you are selling your family house because of a divorce you have to do what you can to settle things quickly.

If you are going that route, rely on your real estate agent’s suggestions for any repairs or updates that they feel should be done in order to sell faster. Sometimes it’s just a matter of a few minor repairs and some fresh paint that is needed.

Sticking with Your Decision to Sell

selling your house

With so much else going on in your life at this moment you may be thinking about attempting to refinance house after divorce instead of selling it.

Refinancing your mortgage is certainly an option but it can be difficult. The financial situation of both you and your spouse are most likely going to change and you now will have to qualify for new financing.

You may also be contemplating selling assets before divorce, which is okay if both you and your spouse are in agreement for this. It is not something that you want to do otherwise as there could be legal implications.

The process of selling your house in the middle of divorce may feel that it is just too much to handle.

However, it is most probably a necessity so the more committed you are to getting it sold fast the better it will be for both you and your spouse. Once this has been completed you can both begin to move on with your lives.

Every attempt should be made by both parties to co-operate with each other during the sale process in order to get a fast sale.

De-cluttering When Selling Your House

Chances are either you or your spouse has already moved out of the home, and the one left in it is going to be responsible for keeping the home neat and clean during the sale period. If that party is really committed to having the home sell fast then it means getting rid of all the clutter.

You could even begin packing a lot of the items you don’t need at the moment and putting these in an inconspicuous place so they don’t interfere with the viewings of the home. You really want to attempt to stage the home as best you can during your divorce selling home period.

More Options for Selling Your House During Divorce

researching selling your house

If you have priced your house realistically you may find that you get an offer from buyers who are investors and are willing to pay cash for your home. This is something you may want to consider even if the price is lower than what you were expecting. You are going through a rough time in your life right now and probably the divorce proceedings are putting pressure on both you and your spouse to get the assets divided so it can be concluded.

When you are under pressure to sell your house fast, it may mean that you have to make concessions regarding the sale that you would not normally do under normal circumstances.

If possible strongly consider any offers that you do get and listen to the advice of your realtor. This is the professional that has the most expertise when it comes to selling your house fast and this expert will give you their honest opinion on any offers that you receive.

Sell Your San Antonio House After a Divorce

If you need to sell your San Antonio house fast after a divorce, click here to get an offer within 24 hours!

To get your cash offer on your house, call us at 210-596-9669. We look forward to talking to you about your options. If you aren’t interested in selling your house, but still have questions, feel free to get in contact with us. We are happy to answer any questions.
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Selling a Home for Cash in San Antonio

April 3, 2024 • Matthew

Many San Antonio homeowners are currently considering selling their home for cash to a home buyer. A healthy housing market and the overall economic recovery has created the ideal atmosphere to sell residential properties in 2016. Homeowners are seeking the assistance of real estate agents, third party professionals, and home buying companies to quickly sell their home for cash. But which method is the best for a seller? Who should you contact when selling a home for cash in San Antonio?

When homeowners put their house on the market, whether with the aid of realtors or by themselves by declaring a For Sale By Owner (FSBO) status, they want to ensure they’re attracting the best buyers for their property. Potential buyers come in varying shapes and sizes: from individual buyers to investment companies and other businesses. Though the differences are stark between a single buyer and a company interested in your home, both buyers have the ability to offer cash to sellers. There are several advantages and few disadvantages to accepting a cash offer for your home, but having the knowledge to discern between a decent offer and great one will give you the freedom to make the right decision for property.

Benefits of Selling a Home For Cash

selling your home for cash

The Speed of Sale

There are several benefits of accepting to accept selling your home for cash; one of the most desirable advantages to homeowners is the speed of the sale. Typically, most cash home sales are completed within a month from the initial offer due to finance pre-approval. Companies and individual buyers with cash are able to accelerate the closing process to a mere seven days. Closing within a week is practically unheard of when selling on market or to buyers that need finance approval.

When you sell your house for cash, you’re effectively skipping the financing process most buyers must sift through prior to purchase. Communicating with a mortgage lender and acquiring a new loan prolongs the closing process by months. Within that time frame, homeowners are losing thousands on the continual payment of utilities, insurance, and possible mortgages. This time period is extended if the potential buyer is unsuccessful in obtaining a loan from one lender and must seek another. With pre-approved cash buyers, sellers needn’t worry about deals falling through or spending weeks waiting for lender approval.

Homeowners selling their house for cash also receive the added benefit of working with experienced buyers. This experience often shortens a property’s time on market in numerous ways. For one, experienced cash buyers will eliminate the homeowner’s need for a realtor by working with the seller directly. Finding a real estate agent and advertising your property can lead to months on the market before a potential buyer notices your property. When you’re willing to sell your home for cash however, cash buyers are already looking for you and, thus, reduce your home’s time on market. Experienced cash buyers also know the selling process and have a firm grasp on the legality involved. They often provide assistance to first-time home sellers by explaining the process in great detail. This assistance and knowledge can slash weeks off the selling process!

The Convenience of Sale

cash buyers when selling a home for cash

Another major advantage to utilizing the services offered by a cash buyer when selling is the convenience of the sale. The selling process can be especially complex when dealing with realtors. Even if you go the FSBO route, the buyer has the option of using a real estate agent. Although hiring a professional isn’t necessarily a bad idea, it’s one that costs time and money for both parties involved. It’s one of the many reasons why cash buyers avoid dealing with realtors.

If you’re looking to sell your home for cash, you often attract buyers willing to skip the contingencies often associated with selling with a real estate agent. These contingencies include asking for inspections, appraisals, or making major repairs to appease potential buyers. For older properties or fixer-uppers, this can consist of many costly cosmetic updates as well as home system replacements. Realtors, at the request of their clients, often make sellers perform these expensive actions before cementing a sale. However, cash buyers will buy dilapidated properties as is, ensuring a faster, more convenient sale.

Simplifying the Selling Process

Arguably the most beneficial component of selling your home for cash in San Antonio is how simple the selling process becomes with the right cash buyer. As stated previously, cash buyers are typically experienced with buying properties needing major repairs. They’re also more experienced with closing quickly compared to the average realtor. This added expertise allows the closing to commence without the major difficulties sellers face with a traditional buyer.

Selling your property with cash buyers mean avoiding unnecessary complications. A lot of buyers experience buyer’s remorse after making pricey purchases. For home buyers, this can mean accusing the previous owner of concealing the poor condition of their home. Sometimes, buyers even fabricate an issue to nullify their home purchase. Remorse can manifest in different ways for buyers. But with cash buyers, homeowners can avoid this convoluted conundrum altogether.

Selling a Home For Cash Pitfalls

problems with selling a home for cash

Of course, selling a home for cash can have its pitfalls too. Some homeowners will not receive the full market value for their home. This isn’t the consequence of a company sending low ball offers, but more of a standard as-is price adjustment. Cash buyers often need to make those costly repairs homeowners can’t afford to make before selling. So a reasonable lower price for your property is to be expected.

Another disadvantage some homeowners experience when they attempt to sell their house for cash is a buyer being unable to provide proof of funds. If a buyer is unwilling or unable to show proof of funds, they may not be able to purchase your property in a timely manner. Often times, these buyers want to tie up your home to re-sell to other investors to make a better profit and are willing to keep your home off the market for extended periods of time. It’s better to avoid these cash buyers altogether if possible.

Even with the few disadvantages described, contacting a cash buyer is the best option when selling your home. The lack of major repairs, contingencies, and buyer’s remorse make up for possibly receiving a lower price for your property. Also, you can avoid the buyer’s lack of funds predicament by asking for proof of funds via a bank statement or general letter of approval. Sellers don’t have to be stuck paying for a home they no longer want by selling to a trusted cash buyer. With a speedier and more convenient process for sellers, homeowners are able to concentrate on moving without the anxiety of finding the right buyer.

Get a Cash Offer For Your House

selling your house fast

With all the added advantages to selling with a cash buyer, you may be wondering, “How do I sell my home for cash San Antonio?” The answer is simple. Contact a reputable home buying agency. With one quick survey, you can be on the receiving end of a fair cash offer within the week! Matt Buys Houses TX is a trusted cash buyer with more than a decade experience buying homes while offering free selling advice to homeowners in need. If you’re interested in selling to a cash buyer, let us help make your selling process a fast, convenient, and simple experience today!

Selling a home for cash is definitely an option you should consider. Skip the real estate agent fees and hassles. Find out what you can get for your house. Call Matt Buys Houses TX at 210-596-9669.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Should I Sell My House Before or After Divorce in Texas?

March 27, 2024 • Matthew

The question that gets asked often when people are considering divorce is, “Should I sell my house before or after divorce?”

Whether you should sell a house before or after divorce in Texas is going to depend on a lot of variables.

Most often there are so many things to deal with during a divorce that it becomes overwhelming and frustrating. Situations like who gets the house after a divorce, divorce buyouts, and refinancing. One may not think clearly and make decisions based on their emotions which may not be the best decision at the time. There is no doubt that for homeowners that are going through a divorce that the question, “Is it better to sell a house before or after a divorce becomes a reality?”

sell my house after divorce

Is it Better to Sell a House Before or After Divorce?

Regardless of whether you sell a house before or after divorce in Texas, you will still want to sell a house at a profit.

Even though you may be in a hurry to get your finances in order as they pertain to the divorce, the timing of the sale is going to be important.

How profitable this will be will depend partially on the housing market at the time, the economy in general, and how long you can wait for the right buyer.

Then there are the other costs that come with selling a house that has to be taken into account. You also have to look at the rules and regulations as they pertain to the state as to how assets are handled in a divorce.

This will play a big factor in helping you to make the decision as to when is the best time to sell.

 Selling My House Before Divorce

should I sell my house before or after divorce?

Making a Profit on the Sale

There can be tax implications that come with the home sale that will have to be decided upon and may also be part of the divorce proceedings.

If you sell at a profit then there may be taxes that have to be paid. Then you may be eligible for a capital gain deduction.

How this is going to affect you will all depend on the decision that is made between you and your spouse for filing your taxes.

If you are selling before your divorce then you both may decide to file the last taxes jointly. If you sell the house after your divorce then you are probably filing separately.

If you need to consider breaking your mortgage read more about the ramifications here.

There can be some tax advantages to filing separately. For example, if you are co-owners of the house you may be eligible for up to $250,000. of capital gains exclusion. This is dependent on your being able to prove the use and ownership tests for the property.

The same advantage may also apply to your spouse who is filing separately. If you decide to file jointly then you both may be able to take advantage of a $500,000 exclusion based on meeting the criteria for this.

Your tax obligations are one of the most important considerations to be made when you are trying to decide whether to sell a house before or after your divorce.

Realizing a Loss On The Sale

alone with the thought to sell my house before or after divorce

It may be that you are not in a good financial position with the ownership of your home. You may be dealing with an underwater mortgage or negative equity.

This is the case when you owe more on your house than what it is currently valued at. If you are going to sell the house at this time you will end up with a loss.

This will be taken into account during the financial division of assets in the divorce and will be a debt that you will both owe to the mortgage lender. The lender has the rights to come after you both to satisfy the debt owed to him

Considering A Short Sale

When deciding to sell a house that has too much owed during a divorce, you may find that you are able to sell the property through a short sale. Negotiations may be made with the mortgage lender to give up his rights to hold you and your spouse responsible for any balance that is left owing after the sale.

Sell My House After Divorce

splitting assets so I can sell my house before or after divorce

If you are able to communicate with your spouse on a reasonable level you both may be able to come to an agreement not to sell the house until the circumstances are more favorable. You may both decide that it would be more beneficial to you financially to sell the house when the housing market is in your favor. Or, until you are able to pay down the mortgage so you don’t have to deal with negative equity.

Some couples who realize that they are both going to be in a tough financial situation because of the divorce are willing to make some concessions. They will both hold onto the title of the home and both remain living in it. One may occupy the basement while the other takes the upper level. While this is a good attempt at trying to find a plausible solution to the financial dilemma it doesn’t usually work out well.

Another option when considering selling a house before or after divorce, when it’s not the right time, is to still keep the title in both names.

However, one will move out of the home while the other remains in it. This still incurs some additional expenses and potential financial hardships for both parties.

While there are several options that relate to not selling the house at the moment it is important that whatever agreement is made is put in writing. Things change after the divorce and decisions that are made prior to or during the divorce proceeding may be ones that don’t seem feasible after the divorce is final.

If the decision to sell has been reached where the house will not be sold until after the divorce, then other factors need to be considered.

It will have to be determined who is going to continue to pay the mortgage. Agreements will have to be made as to who is responsible for the upkeep and maintenance and paying the utilities and expenses.

Ideally, these types of agreements and arrangements should be made under the advice and direction of the respective lawyers for both parties.

So Should I sell My House Before or After Divorce?

paperwork on whether to sell my house before or after divorce

There are pros and cons to both selling a house before a divorce or after a divorce and it takes careful thinking and planning and being logical when making decisions. Relying on the right advice and resources can help you make that decision.

Find out more about whether a house will need to be sold during divorce by reading this article.

Sell Your House After a Divorce

If you need to sell your San Antonio house fast, we’ll give you a cash offer as soon as 24 hours! To get your cash offer, or to get answers to any questions you have, call us at 210-596-9669. There are no obligations in contacting us!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

I Need to Sell My House, What Should I Do?

March 20, 2024 • Matthew

“Help! I need to sell my house!”

It happens all the time. People have situations that leaves them saying “I need to sell my house NOW!”

There are many reasons a homeowner may be looking to sell this year. Job relocation, family transplanting, or property downsizing are all common factors when considering to sell. With 2016’s healthy housing market and continual recession recovery, capitalizing on a seller’s market is a smart, financially sound decision many homeowners are making. But many sellers wonder where to even start. How do I let go of my property when I need to sell my house fast?

stressed because i need to sell my house

When you’re thinking ‘I need to sell my house fast’, homeowners may believe diving right in will save them time and money. If selling as soon as possible is a priority, knowing the overall selling process and the few considerations involved will be invaluable information that will shorten your property’s time on the market. Before initiating the selling process, homeowners should consider these simple steps to ensure their home is sold as quickly and efficiently as possible.

How Much Do You Owe?

Knowing as much about your property as possible is a great place to start your selling process. How much square feet are you working with? How old is the property and has it appreciated during the years you’ve owned it? Are there any major repairs or updates needed that might impede a sell? The answers to these and multiple other questions will not only help you sell your home to potential buyers but also give you a general estimation on how much to price it.

One of the most important questions homeowners must answer, however, is about their preexisting mortgage. How much money is left on your loan? Unless you’re keeping hard copies of the mortgage bill each month – a highly recommended strategy for anyone with long lasting payment plans – you might not be able to recite the exact figure off the top of your head. Thankfully, homeowners can remedy this issue rather quickly.

Determining the principal amount owed on a home loan is simple. A short call to the mortgage lender can give you all types of information: last amount paid, interest rates, payment plan terms, and even the exact amount still owed. Why is this information pertinent to homeowners looking to sell? Unless a homeowner is gripped with an underwater mortgage, knowing how much you owe means knowing how much profit you’ll potentially make from selling your home. Homeowners can make a pretty penny if they sell their property for more than what they owe. The capital (gains) earned can be taxed dependent on state and the situation, but most homeowners earn at least a few thousand dollars at closing. This can help pay off commission and selling fees or used as a basis for a new property. The more a homeowner knows about their mortgage, the better off they’ll be when starting the selling process.

A Little Research Goes a Long Way

i need to sell my house research

Taking the time to research your property is one of the most important steps when looking to sell your home. Unless a homeowner knows what similar houses are selling for, how long they’re typically on the market, and if those homes are in better condition, homeowners looking to sell are at a serious disadvantage.

Put in the effort and do some quick research for a fair home estimate. Most homeowners don’t know what their property is actually worth without requiring the aid of a professional. Whether it’s an appraisal or using the aid of an inspection, homeowners can be clueless to the value of their house. Without hiring professionals that require tremendous fees, an hour online can provide a safe estimate on your house.

What are the best sources to use when I need to sell my house? Third party real estate sites can offer property information in a particular region without calling in the professionals. Utilizing sites like Zillow and Trulia, homeowners will be able to compare their home to others on the market that have similar upgrades. Knowing what comparable homes in the same shape sold for is essential when determining a selling price. These sites also give statistics on homes. These stats can show how long a particular property took to sell. When needing to sell fast, knowing a home’s timeline on the market is essential.

Selling with an Agent

i need to sell my house with an agent

After gathering all the information you can about your property, it’s time to sell. Many homeowners are convinced that hiring a real estate agent to sell their property is the smartest decision. But selling with an agent can leave you in the housing market limbo for months at a time. If I need to sell my house right now, I’ll avoid real estate companies and travel the For Sale By Owner (FSBO) route.

Selling with an agent has its perks. Agents typically pay for your home’s advertising, prep for open houses, and find potential buyers. But these perks come at a steep price some homeowners aren’t willing to pay. Keeping your home in peek condition is one sacrifice sellers must make when using an agent to sell their property. Unless your family is immaculate and your property is already in showroom condition, sprucing up a property to meet a realtor’s expectations can be both time consuming and costly.

Realtors aren’t cheap either. Although they offer services that some busy homeowners may be thinking “but I need to sell my house now”, and most property owners can do what an agent does at a fraction of the price. Advertising your home on sites or in the paper can be just as effective as paying a premium for a realtor. Homeowners can also orchestrate their own open houses to attract buyers. Setting your home and providing information via homemade brochures require little time or cost. If you find yourself thinking “I need to sell my house quickly“, forego the hired help and do it yourself.

Selling with Matt Buys Houses TX

i need to sell my house fast

When I need to sell my house as quickly as possible, I seek out cash buyers. Not only do they offer fair prices on properties, home buyers provide the shortest timeline when selling. Forget three months on the housing market; how about three days? If you’re looking for a trustworthy cash buyer company with years of experience, consider Matt Buys Houses TX.

Avoid the typical hassles when selling your home. Matt Buys Houses TX can close within a week. Homeowners don’t need to make major repairs or updates to receive a fair cash offer; Matt Buys Houses TX will buy any property fast. Instead of paying for the appraisals, inspections, surveys, and closing costs associated with hiring an agent, Matt Buys Houses TX will buy your home without demanding out-of-pocket expenses. There’s no catch!

Capitalize on 2016’s healthy housing market by selling your property as soon as possible. If you want the best offer with the speediest time frame, consider Matt Buys Houses TX. They provide the smoothest transition between selling and moving without paying a dime.

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.

Can You Refinance a House After Divorce?

March 13, 2024 • Matthew

As a single parent, affording a mortgage can be incredibly difficult. We’ve discussed what the divorce house buyout means, but we haven’t touched upon being able to refinance house after divorce. In this article we will cover refinance of the house before or after divorce, we will look at what happens if you can’t refinance the house after divorce and the buyout process.

refinance this house after divorce

Do I have to refinance house after divorce?

Most likely, especially if you wish to keep your partner off the loan. If you are the one who keeps the home after the divorce, you will have to take the loan while the other spouse goes through the buyout. Refinancing takes time and it’s often an emotional process. The first question you need to ask yourself is: are you able to do it?

There are a few ways you can get your name off a loan without even having to sell the house or refinance.

One of them is loan assumption…

What is loan assumption?

It means taking over the mortgage and continue to make regular payments as you were doing before without having to sell or refinance house after divorce. There are a couple of cons to loan assumption – as a single parent, it might be extremely hard to get qualified. When dealing with loan assumption you need to make sure you carefully read all necessary paperwork.

Taking a mortgage is another way you will be able to refinance house after divorce.

What happens if you can’t refinance house after divorce?

Apart from your ex staying on the loan, he is allowed to take you to court if you’re not able to refinance house after a divorce.

So to officially become the sole owner of the house, you will need to get a new mortgage.

a mountain house after divorce

So how do you get a mortgage after divorce?

My best tip is to make sure your spouse’s name is off the mortgage. You are no longer in charge of your ex’s financial situation, hence, getting his or her name off the mortgage might actually better your credit.

Your ex will then need to refinance his part of the mortgage while you continue to pay your own. Along with decreasing your debt and increasing payments over a shorter time, this will enable you to apply for a new loan.

While you’re going through a divorce, you should never buy a home – your credit rates will get lower and you will lose money. If your spouse’s lawyers find that out, they will fight for that money.
Getting a new mortgage as a single parent
Not everyone is in a stable financial situation after divorce, especially if you’re a stay-at-home mother.

thinking about refinancing a house after divorce

Finder wrote an absolutely amazing single parent’s no-nonsense guide to affording a home.

Step 1: Compare mortgage brokers
With mortgage brokers, you will be able to find a way to refinance house after divorce as a single parent with their knowledge on all suitable mortgage programs.

Step 2: Find government assistance
There are several income assistance benefits that could help single parents, including Family Tax Benefit A & B, Parenting Payment and the Child Care Benefit.

Step 3: Calculate your current income
My best advice is to consult with a financial advisor if you budgeting isn’t your finest skill. Know how much you earn and how much you can spend on a mortgage.

Step 4: Find a way to make more money.
Working from home, renting out a room in your house (read our articles on becoming a landlord!), and more. There are several different ways you can make more money to afford your mortgage.

Step 5: Choose the right loan
Again, a financial advisor might help you out with this one – getting the right loan that you can actually afford and pay off within time is essential.

Tips on affording mortgage with one income

  • Get a bigger deposit. It’ll help you lower the mortgage fee.
  • Always borrow what you can actually pay back – you never know what might happen to your financial state.
  • Reduce your credit card limit – even if you don’t use your card, your bank might think that you owe money. Reducing it to 50% might help you get a better mortgage deal.

cold feeling dealing with refinancing a house after divorce

Pros and Cons of Home Ownership

Home ownership pros:

  • Confidence in being independent.
  • Example for your children.
  • Payoff from your taxes.
  • Increase value on your home.
  • The ability to pay off your home eventually.

Home ownership cons:

  • Difficulties selling the home fast if relocation is in order (however, you can always go with a cash home buyer).
  • Improvements on your home might be steep financially.
  • Decrease of the value might affect your ability to sell your home later.
  • Sudden relocation necessities due to your spouses relocation if children are involved.

Learn more: Zillow offers a fantastic mortgage calculator – the payment breakdown will help you budget and the full report gives you the chance to see your full financial state, including how much you will spend on interest. Please note that these numbers might differ depending on the mortgage you are able to get.

If you are contemplating dealing with the house during a divorce, consider a divorce house buyout.

Interested in Selling to a Cash Home Buyer in San Antonio?

If you’re interested in selling a house to a cash buyer, you’re in for a treat. Matt Buys Houses TX is a reliable service, operating in San Antonio, TX.

How it works?

You give us a call, we give you a cash offer in 24 hours and your house can be sold in just 2 days if necessary. Got any repairs on the house? Doesn’t matter!

Give us a call on 210-596-9669 and sell your house in less than a week!
 

The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.
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