How To Sell A Home Fast After A Breakup

Over the last few years, the divorce rate has steadily decreased in the United States. In fact, between 2008 and 2016 Time magazine reports the divorce rate dropped by 18%. However, this may not be just because millennials are staying together longer. It’s likely because fewer people are getting married compared to the Baby Boomer generation.

how to sell a home fast when breaking up

Getting married used to be a milestone that couples did not skip. These days people live together for years before approaching the topic of marriage. Breakups during these years don’t end up figuring into the divorce rate leading to friendlier statistics. According to the U.S Census Bureau, cohabitation between the ages of 18-24 is more common than marriage. The number is also higher for young adults between the ages of 25 and 24. This leads to a unique issue for many Millenials, who keeps a shared home?

Who Gets the Home When an Unmarried Couple Splits Up?

While they may not be getting married, Millenials are not shying away from taking major steps with each other. They move in together, buy pets, share bills, share Netflix accounts, and share mortgage payments. Everything is fine until they split. Suddenly there are many factors to consider and very few legal precedents to protect them since they weren’t married. So who gets the home?

In an amicable situation, the couple will learn how to sell a home fast and then split the equity down the middle. Couples may choose to divide the property on their own depending on multiple factors. However, if the break up is rough the eventual split of the property may also be intense.

Some states have legal procedures that usually involve selling the property, but some do not make the situation a bit murkier. The key is to identify each individual’s share of the property. It will automatically be 50/50 if both names are on the deed, but if you have a contract or real estate professional you could negotiate this some.

Buy-Out Your Ex

Of course, sometimes selling and splitting the profits isn’t the best choice. If you don’t know how to sell a home fast and just want out of the relationship fast then buying out your ex may be a better option. If you didn’t have an agreement in place, you need to negotiate the factors involved. Sometimes mediation or arbitration can help complete the process quickly. Either way, make sure to have a real estate attorney approve the agreement to prevent future disputes.

Sell Your Home Fast to a Neutral Third Party

If buying out your ex isn’t a financial option and you still need to learn how to sell a home fast, consider selling your home for cash. After a break-up, most couples want a clean split with minimal mess. Selling your home to a third party for cash is a quick way to divvy up shares and profits and move on. Companies that buy homes for cash can offer you a closing date within the week, allowing you the opportunity to move on without a look back. A broker generally is used as a neutral party in the sale and handles negotiation and splitting the costs to minimize tension. Once the property is sold then they divide the profits based on the agreed-upon ownership shares.

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Sell Your Home for Cash Today

Breaking up is emotionally tasking. The simple task ending a long-term relationship is enough to send you into a tailspin without dealing with the sale of your home. Don’t let your old shared home drag you down by leaving it on the market for months. Request an offer from Need to Sell My House today to find out how quickly and easily you can sell your home. Sell your home and move on with your life. You will never look back.

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