If you are in the midst of a divorce or separation it’s likely you are wondering whether you can sell your home during a divorce in Edmonton, Alberta. In this blog SUNRISE HOME BUYERS will explain some steps and pitfalls to be aware of when attempting to sell your home fast in this trying scenario. But given the sensitivity of the situation we certainly recommend getting legal advice on your unique situation.
2020: Is It Over yet?
All Albertans have been experiencing plenty of turmoil in the past several years. Plunging oil prices, business shutdowns and Covid are placing tremendous pressure on families. And its no surprise divorce rates have been rising due to all these external pressures. The outlet for all this pressure has to go somewhere.
Family lawyer Barry Nussbaum expects the Canadian divorce rate to hit 38%. With so many marriages ending in divorce, many Edmonton, Alberta residents are seeking guidance for selling a home during a divorce.
A home is likely your most valuable joint asset. For many people it is their long term savings plan. And it’s obvious to everyone that any equity can’t be divided up unless the property is sold. Since a divorce is one of the most stressful and emotionally charged life events, it’s important to try and stay as rational as possible.
While we did see a surprisingly STRONG and busy summer & fall Edmonton real estate market in 2020, selling now is a bit trickier. There are many factors to consider when facing a divorce and trying to divide assets in a real estate market with holidays approaching, typically slower winter sales and a real estate market about to enter a lockdown.
So Many Questions
As mentioned earlier, going through a divorce is one of the most stressful and emotionally charged events in a person’s life. It takes an emotional toll on both spouses and so many people close to the family.
Regardless of the reasons, you likely have many questions you will need to work through.
Does one spouse want to stay in the home? Might this bring up unhappy memories? Would it be better to reduce any life disruption and stay in the home? If children are involved, what living situation would be best for them? If one spouse wants to keep the home, can they afford to make the mortgage payments? Should you just sell the family home and both start over? These are difficult questions you will need to decide as you work through your separation.
Decide if (and when) You Plan To Sell Your Home During Your Divorce in Edmonton
In some divorce cases, one spouse will decide to keep the home, buying out the equity from the departing spouse. This will obviously depend on whether one spouse has the means to do so.
In some cases, an agreement is made where one spouse uses the house for a defined period of time (typically when there are children in the home), and then sold by a specifie date (usually when the children reach a certain age). This is something you and your spouse will have to come to terms with in this process.
Set And Abide By a Timeline
It’s important, when selling your Edmonton house during a divorce to keep a timeline.
If you plan to sell it, you should put your home up for sale in advance. Set firm closing dates, moving dates and times, and coordinate which spouse will be handling the sale and/or talking to the real estate agent. Make sure that each of these agreements are in writing, and negotiate penalties for breaching the agreements.
This helps ensure a smooth, surprise free home sale.
Seek Professional Help – Agents & Home Buyers
At the best of times, selling your Edmonton home can be a difficult process.
But during a divorce, you will have so many decisions to make and its likely you will feel overwhelmed. It’s not recommended that you take on the additional task of selling your Edmonton home yourself.
First question. Have you done sold an Edmonton home before? If so, you know all about the stress of keeping your house in showroom condition and planning your life around the constant showings. When life is simpler, these factors alone stress many sellers to the max. Be sure and consider what life will look like going this route.
You may have disagreements with your spouse about selling price or other issues. By working with a real estate professional… either a reputable agent or real estate investment firm, you’ll both have a neutral third party who can help you determine a fair selling price and handle the marketing of your home.
Given the above, if you can wait the time it’ll take to list it with an Edmonton agent and sell it on the open market, going with a real estate agent is certainly a solid bet. If you are looking for a real estate agent to work with who is capable, experienced and works hard at selling your home, we’d be happy to refer you to someone who can do the job. We have been doing this for many years and we know a few select realtors we would trust enough to sell our home! Quality matters.
Selling Your Edmonton House Fast For A Fair All-Cash Price
However, if you need to or decide to sell your Edmonton house fast, there are reputable and local real estate investment companies like Sunrise Home Buyers that can be a great option. Selling your home doesn’t have to be as stressful as the divorce itself. Listen to and read the REVIEWS of our SATISFIED EDMONTON, ALBERTA HOME SELLERS.
We actually BUY HOUSES (rather than listing them like agents do). So instead of listing your home and hoping for the best you can sell your house at a set price and on a set date. No inconvenient showings. No waiting and hoping. Plus we will buy your home in “AS -IS” condition, do it discreetly, pay cash and can close quickly if you need to sell your house fast.
So if you can’t wait the 2-4 months it sometimes takes to sell a house in this market in Edmonton…… CALL US to see what we can offer you for your house during the proceedings.
If you’d like to learn more on this subject, please read, What Happens To Your
If you would like to discuss your current situation with your divorce and see if we can help you save time, reduce stress, and get you out of this problematic house selling situation fast…
Give us a call anytime at (587) 982-7576 OR
fill out the form on this website today! >>
We’ll evaluate your house, make you a fair all-cash offer, and you can decide if selling your house to us is the best fit for you. We’re here for you, just reach out and lets talk today.