1. How Does Selling Your House During a Divorce Work in Texas?
2. Who Gets The House After a Divorce in Texas?
3. Should I Sell After or Before the Divorce?
4. Who Gets to Stay in the House During a Divorce in Texas?
5. Alternatives to Selling During Divorce in Texas
6. Divorce House Sale Texas Frequently Asked Questions
7. Easiest Way To Sell A House During A Divorce In Texas

How Does Selling Your House During a Divorce Work in Texas?

There are five essential steps to follow should you decide to sell your house in Texas if you’re facing divorce:

Step 1: Find A Divorce Attorney in Texas

The first step is to find a divorce attorney in Texas. Experienced divorce lawyers can help you understand divorce laws and how they apply to your marital property. They can also ensure that the sale of your home is handled correctly. Their job is to guide you through all the steps, such as filing the correct paperwork and handling any conflicts that may pop up during the process.

Step 2: Determine Who Owns The Real Estate

The second step is determining who’s name is on the title. Look at the property deed and any prenuptial agreements. This will clarify who owns the real estate. In Texas, real estate acquired during the marriage is considered marital property. However, if one person owned the property before the marriage or was an inheritance, it may be regarded as separate property. Your divorce lawyer can help you determine whether the home is separate or marital property so that – as the seller – you know your rights.

Step 3: Decide How You Want to Sell The Property

You and your spouse should agree on how you want to sell the property. If you go the route of a traditional sale, you may need to renovate the home before listing it on the market. There will also be various fees, such as an appraisal fee, closing costs, commissions, and marketing fees. Alternatively, you may sell it for cash to a cash home buyer. This can be a good option if you don’t have the money to renovate it. The difference between putting your home on the market and selling it to a cash home buyer is that these companies purchase properties “as-is,” they pay cash, and their transactions are typically fast and seamless.

Step 4: Sell The House

You are now ready to put the house up for sale. If you choose the traditional sales route, hire a real estate agent. Agents or realtors have a lot of information about the housing market and can help you list your home and market it effectively. You must make joint decisions if you decide to sell the house, such as choosing what realtor to use, etc. If you sell your home for cash, find reputable buyers who will buy the house “as-is.” With a cash sale, you can close within a few weeks – a good option if you need to move on quickly after your divorce. Want to know how to sell your house during divorce for cash? Check out our home-buying process! Get Cash For House Today! We’ve helped tons of clients in Texas; see what our clients are saying!

Step 5: Divide the Proceeds From the Sale

The final step is to divide the proceeds from the sale of your home. First, your lawyer will help you deduct any expenses related to the property. This may include any outstanding mortgage, liens, commissions, or closing costs. Keeping these documents organized can ensure you’ve cleared all your debts. Once you take care of these costs, the rest of the money from the sale will be divided between you and your partner.

Who Gets The House After a Divorce in Texas?

The answer to this question isn’t always straightforward. Who gets the house after a divorce will depend on whether the house is considered marital or separate property, who has custody of the children, and each spouse’s financial situation. Sometimes, it may not be possible for one person to afford the house alone. In other cases, the couple may be facing foreclosure. Whatever the scenario, both partners must find a solution to what to do with the house.

Ultimately, personal agreements or legal guidelines decide who gets the house during a divorce. A divorce attorney can help you understand your options.

Should I Sell After or Before the Divorce?

If you are the seller, deciding to sell after or before your divorce will depend on the specifics of your divorce and what works best for you and your partner. Selling the house before the divorce can simplify the proceedings. Doing so eliminates the house as a significant asset, and there may also be fewer disputes.

If you sell the house after the divorce, waiting until favorable market conditions can get you a better price. This option also provides stability, especially if your children need to stay in the same school district. In either case, you will need to consider critical considerations, such as the financial situation of both partners, the housing market, and emotional factors. Discuss both scenarios with your divorce attorney to make an informed decision regarding the sale of your marital home.

Who Gets to Stay in the House During a Divorce in Texas?

In Texas, the decision over who gets to stay in the house during the divorce process will be influenced by several factors:

A Temporary Order

The court may issue a temporary order allowing one person to reside in the marital home. A judge typically considers the children’s best interests, custody battles, each partner’s financial situation, and each spouse’s needs.

The Children

The parent with primary custody may stay in the house to stabilize the children. A judge typically prioritizes the children’s needs when making a decision.

Finances

If one spouse can afford the maintenance, home insurance, and mortgage, the judge may give that person the right to stay home during the divorce proceedings.

Mutual Agreement

Sometimes, spouses decide who will move and stay in the marital home. The process is less stressful when both parties agree to be courteous and reach a cordial agreement.

Domestic Issues

In cases where there is domestic violence, the court may provide protective orders prioritizing the safety of those abused.

Alternatives to Selling During Divorce in Texas

Although divorces can get messy, sellers always have options for selling their homes.

Co-Own The Property

When you co-own the property with your spouse, you will have a shared home even after the divorce settlement. If you plan on co-owning your home, you must agree on how to manage the property together: who will pay the utilities, home insurance, maintenance fees, and other costs. The agreement should also include what happens when one spouse wishes to sell their share.

Co-owning a home is a good option if you have an uncontested divorce and have children you want to provide for. Letting children stay in an environment they are used to can be less disruptive to the family. Financial reasons are another reason couples may choose to co-own. Spouses can maintain their investments without dealing with the real estate market.

Co-owning doesn’t come without its challenges, however. It requires continuous cooperation between spouses, and if communication breaks down, it could lead to future legal battles.

Buy Out The Other Spouse

Another option is to buy out your spouse. In doing so, you must compensate them for their share of the home’s equity. To determine the value of your marital home, get a professional appraisal. Then, calculate the equity by subtracting the mortgage balance, debts, or liens against the property. This net value will then be divided in half – the amount to be given to your spouse. It’s essential to agree on the terms. For example, if one person made a down payment, this may change the amount they are entitled to.

Buying out your ex-spouse can be costly. If you don’t have enough money, you may need to refinance your existing mortgage or take out a loan. Your income and your credit score will determine if you are eligible.

There are many benefits to buying out your spouse. For one, residing in the home can provide you and your children stability during a difficult time. In addition, you may have an emotional attachment to the home, especially if it’s a home where you raised your kids. Finally, the house may continue to appreciate.

If you plan on buying out your spouse, make sure you can afford the home insurance, property taxes, and mortgage payments yourself. You will also need to put the title in your name.

Divide the Marital Assets

This alternative means a fair division of all the marital assets. Marital assets typically include all the assets you acquired during the marriage. This can include houses, vacation homes, investment portfolios, savings accounts, retirement accounts, businesses, vehicles, and other valuable things. In Texas, these assets are divided equally unless there are reasons they should be divided unequally.

To divide all the marital assets fairly, it’s a good idea to get the advice of a divorce lawyer. During this process, think about the tax consequences as well. Selling certain marital assets from your estate may result in more capital gains taxes. A lawyer can help you do everything by the book and the law.

Dividing the assets has many benefits. One benefit is that it allows both parties to keep assets that are valuable to them. This option also eliminates the costly route of putting a house up for sale.

If you want to sell your house during divorce and move on with your life, contact Ready House Buyer! We can help you sell without fees or costly repairs and close in as little as 7 days! Want to know more? Check our About Us section.

Divorce House Sale Texas Frequently Asked Questions

Can I sell the house before the divorce is final?

Yes, in Texas, it’s possible to sell the house before the final divorce papers have been signed. If you’re the seller, remember that you should do so with the guidance of your attorney. You will also need your spouse to agree to the sale as it may be marital property.

Is Texas a 50-50 divorce state?

Texas is a state of community property. This means all the marital property is divided equally between spouses during a divorce. However, the law in Texas isn’t so black and white. Each divorce is different, and yours may not be a 50-50 split. The court examines exceptions and considerations, such as separate property claims, spousal support, and prenuptial agreements. Furthermore, only one person may have worked throughout the marriage.

How does capital gains tax work in a divorce?

If you are the seller and you sell your home during a divorce, there may be a capital gain (a profit from the sale of your house). This capital gain will be taxed. However, each spouse may exclude up to $250,000 of the gain from their taxes if they have lived in the house – as a primary residence – for at least 2 of the 5 years before the sale. Working with a tax advisor to understand how much capital gains tax you will owe and what is taxable is a good idea.

Can I force my ex to sell the house after the divorce?

If you cannot agree with your ex-partner over what to do with the house, you can petition the court to force the sale of the marital home. The court will take into account both partners’ interests. To understand your options, consult with a divorce attorney. A good attorney can handle your case and negotiate on your behalf.

How do I sell my house if one partner refuses?

If your ex-partner refuses to sell the house after your divorce decree has been finalized, you may need to get the courts involved. First, discuss the situation with your lawyer to see what kind of rights you have. You may need to file a petition if you can no longer communicate with your ex-spouse.

Easiest Way To Sell A House During A Divorce In Texas

Understanding your options is critical to ensuring a smooth process if you plan to sell your home during a divorce. Selling your home to a company that buys houses and pays cash offers many benefits. You don’t have to pay a commission to a realtor. Nor do you have to worry about costly renovations or repairs. You can simply sell the house “as-is.” Cash home buyers purchase houses without middlemen, so you’ll get a hassle-free, fast transaction that doesn’t include banks or lenders. This is true of all the major cities in Texas, including Austin, Houston, Dallas, Fort Worth, and El Paso.

However you choose to sell your home during your divorce, remember to consult with a divorce attorney to help guide you through the legal proceedings.

Ready House Buyer is a local house-buying company out of Texas. We have built our business by buying houses for cash, whether mobile homes, condos, or single-family houses. We operate throughout Texas, and our service has helped many people sell their houses during a divorce. Contact us at (214) 225-3038 or fill out our short form. These findings apply to all cities and counties in Texas, including Dallas, Garland, Denton, Fort Worth, Arlington, Houston, Austin, San Antonio, and more! Do you still have questions? No problem! We are here to address all your real estate concerns!