That does happen, and it is often unpleasant, to put it mildly. It goes without saying that you don’t want to make your divorce any more difficult or inconvenient, especially when it comes to dividing your assets. One of your objectives at this time may be to locate someone who is looking to purchase a home in [market city]—in this example, your home. If you are selling your house during a divorce, you have a few alternatives. Yet, wouldn’t it be wonderful if you could quickly sell your property for cash? This would allow you to speed up the unpleasant procedure and have some cash on hand to help pay off debt and cover legal costs. So first, think about your top choices before selling your house during a divorce in Chicago.
Selling Your House During a Divorce around Chicago
Go Through a Real Estate Agent
Selling your home using a real estate agent is a common and traditional approach. The agent takes care of all the details for you, from showing your home to creating contracts, which can save you time and hassle. However, there are some drawbacks to consider. Firstly, the costs involved can be substantial, such as the need to pay for an appraisal before listing your home. Additionally, finding a buyer can take time as they secure financing, and your home may need to be shown to multiple potential buyers.
Furthermore, even after accepting an offer from a buyer, the closing date typically won’t occur for another 30 to 60 days. This means that the entire selling process can take at least three months on average, which may not be ideal if you’re looking for a quick sale. Despite these challenges, hiring a real estate agent can still be a viable option if you’re willing to put up with the waiting and costs involved.
Do a Short Sale
A short sale is an alternative option for homeowners who can no longer afford their mortgage payments. In this scenario, the property is sold for less than the remaining mortgage balance, and the lender agrees to accept the proceeds as payment in full for the mortgage. Unlike traditional home sales, short sales require approval from the mortgage company, which can make the process more complicated and time-consuming. However, if successful, short sales can be faster than selling through a real estate agent.
Despite this, there are downsides to a short sale, such as the potential negative impact on your credit score. In a short sale, your credit report will reflect a “Not Paid as Agreed” status, which is less damaging than a foreclosure, which can stay on your credit report for up to seven years. However, if you’re struggling with your mortgage payments, a short sale can provide a way out of your financial predicament and free you from the burden of owning an unaffordable property.
Try a Company Buying a House for Cash around Chicago
You may also consider a [market city] cash home buyer, who may be your best option if you need to sell your property urgently due to a divorce. By doing this, you can speed up the process, obtain a fair price for your home, and save yourself a lot of hassle.
Selling your house to such a company for a reasonable cash offer can be completed in as little as one week, not months. Once more, the professional buyer of a home in [market city] makes the payment in cash, so you don’t have to wait around for a retail buyer to obtain financing. Also, you won’t have to pay for any repairs before you can sell your property. Any required repairs will be made and paid for by the business. Reputable businesses also cover all closing expenses.
If you are selling your house during a divorce in Chicago, you just might consider a cash home buyer in Heartland Funding Inc.. It’s easy, It’s fast. You’ll get a fair cash offer.