65. Selling Your House While Divorcing in Duncan, OK

Selling a house during a divorce can be an emotionally charged experience, particularly in a small town like Duncan, Oklahoma. The process can be fraught with uncertainty, anxiety, and stress, as both parties navigate the complex legal and financial implications of the sale.

For many couples, the house is not just a piece of property, but a symbol of their shared history and a source of emotional attachment. The thought of selling the family home can be overwhelming, as it represents the end of a chapter in their lives and a significant loss.

Furthermore, disagreements over the sale price and the division of proceeds can escalate tensions between spouses, adding to the already stressful situation. In small towns like Duncan, where everyone knows everyone, the added pressure of social scrutiny can amplify these emotions, leading to feelings of shame and embarrassment.

It’s essential for couples selling their house during a divorce to seek the support of family, friends, and professionals, such as attorneys, financial advisors, and therapists. These individuals can provide valuable guidance and emotional support, helping couples navigate the challenges of the sale and move forward with their lives.

Houses In Divorce Can Be Complicated

In Oklahoma, the division of assets during a divorce is governed by the principles of equitable distribution. This means that marital property is divided in a manner that is fair and just, taking into account each spouse’s contributions to the marriage, including both financial and non-financial contributions.

Marital property typically includes assets acquired during the marriage, such as the family home, bank accounts, retirement accounts, investments, and personal property. Separate property, which is typically not subject to division, includes assets acquired before the marriage, gifts, and inheritances.

When dividing marital property in Duncan, OK, the court considers a variety of factors, such as the length of the marriage, the age and health of each spouse, the income and earning capacity of each spouse, and any other relevant factors. In Oklahoma, the court has broad discretion in determining how to divide marital property, and the decision is final and binding.

It’s essential for couples going through a divorce in Oklahoma to work with experienced attorneys and financial advisors to ensure that their assets are divided in a manner that is fair and equitable. These professionals can provide valuable guidance on how to negotiate and reach a settlement agreement that protects each spouse’s interests and helps them move forward with their lives.

Here’s How To Split The Real Estate Asset

Splitting real estate assets during a divorce in Oklahoma can be a complex and challenging process. Real estate assets, such as family home or investment properties, are often among the most valuable assets to be divided in a divorce. Here are some ways to handle the division of real estate assets during a divorce in Oklahoma:

  1. Determine ownership: First, it’s essential to determine who owns the real estate asset. If the asset was acquired before the marriage, it may be considered separate property and not subject to division. If the asset was acquired during the marriage, it is likely to be considered marital property and subject to division.
  2. Get an appraisal: The next step is to determine the value of the real estate asset. An appraisal by a qualified appraiser can provide an objective estimate of the property’s value, which can help both parties negotiate a fair division.
  3. Negotiate a settlement: Once the value of the real estate asset is determined, the spouses can negotiate a settlement agreement that outlines how the asset will be divided. There are several options available, including selling the property and dividing the proceeds, buying out the other spouse’s share, or transferring ownership to one spouse in exchange for other assets.
  4. Consider tax implications: It’s essential to consider the tax implications of the division of real estate assets. For example, if one spouse is buying out the other’s share of the property, there may be capital gains taxes to consider. A financial advisor can provide guidance on how to minimize the tax implications of the division.
  5. Follow the court’s orders: If the spouses cannot come to a mutual agreement on the division of real estate assets, the court will make the final decision. It’s important to follow the court’s orders, as failure to do so can result in legal consequences.

Dividing real estate assets during a divorce in Oklahoma can be a complicated process, but with the help of experienced attorneys and financial advisors, it’s possible to reach a fair and equitable settlement that protects each spouse’s interests and helps them move forward with their lives.

But this begs the question — how do you sell the property?

The Fastest Way To Sell A Divorce House

When it comes time to sell, most people think of selling through a real estate agent. Unfortunately, there are a few problems with this:

  • the agent will make the owners pay out-of-pocket to fix up the property first — but who pays for that?
  • the agent has to schedule multiple showings which means keeping clean and presentable at all times.
  • the agent will then list the house, which can take months to sell (sometimes longer) — can either party wait that long?
  • the agent will then involve both parties in the negotiation with the buyer and there is A LOT of paperwork to shuffle back and forth
  • the agent, after contracting to sell, will have to schedule buyer appraisals, inspections, repair requests, etc.– either party prepared for that?

This is a costly and time-consuming way to sell, and it can actually make divorce proceedings worse.

Fortunately, there’s another way to sell and that’s to sell your house to a real estate buying firm (which is what we do here at Metro Cash Offer). The real estate buying firm will buy your house quickly, for cash, in as-is condition (and as a bonus, there are never any commissions or fees to pay). You don’t have to clean up or fix up the property and the sale can be completed in days, not months, with very little paperwork.

If you’re going through a divorce and want to just be done with it and move on with your life, just reach out to us and tell us about the house you want to sell. We specialize in buying divorce houses and we can help you expedite your divorce by buying this house from you.

Click here to enter your information or call our office at (405) 754-2444 to tell us about your property