equity - divorce or separation?
Chances are if you're coming to terms with the prospect of a
separation or divorce three things will be uppermost in your mind. Money
matters, a timely resolution and minimising the emotional strain on all
concerned. You have to make your cash go further. And to make matters
also possible that neither party is able to remain in the family home.
For the vast majority of people going
through divorce or separation, property issues are one of the main
stumbling blocks that hold things up or de-rail well intended plans.
This is because when it comes to raising cash for divorce or separation
property is king.
Depending on your circumstances and the
property concerned, selling outright to give both parties a new start
can be the most sound option - regardless of how you sell. But you can
release equity for divorce or separation in other ways too.
separation - the options for releasing
If you need to release equity for
divorce or separation you can sell your house privately or through an
estate agent. People do. After all, you're far more likely to get the
highest possible price for your home. But it is a riskier enterprise. To
cap it call, the sale may take quite a few months to go through.
You can encourage a quicker sale by
pricing your home competitively relative to similar properties in your
area. And do take account of local market conditions. If it
looks as though properties are taking a long time to sell it probably
means prices don't properly reflect current market conditions. Prices are too high for what the current market will bear.
It's a slower way to release equity for divorce or separation but it suits
If one party is thinking about trying
to stay in the family home investigate options for refinancing your
home. This may raise sufficient cash for your purposes. But do bear
in mind the outgoings of the person staying behind are likely to be higher as a result.
Think carefully whether this an
affordable option long term. You'll may also wish to get one name
removed from the title deeds.
If you want things to happen faster -
perhaps because your priority is to make a "clean break" there are other
ways to sell or release equity.
Helping you release equity
for divorce or separation
Sell Your House Quick Help specialises
in helping homeowners overcome "awkward" house selling situations.
Sometimes selling on the open market causes intended complications or
difficulties. Need things resolved quickly? You can release equity
for divorce or separation quicker by selling outright to us or opting for a
long term sell and rent back arrangement. Both will release equity.
Selling to us outright allows you to
release equity for your divorce or separation without having to keep
your fingers crossed about the buyers commitment or ability to raise
funds. And you'll have less to do because we manage the sale process for you. This will free up your
time to focus on other pressing matters. And because we
offer a "certain sale" that's chain-free we remove nearly all of the
risk of the sale falling through.
Just think. By opting for an off-market
sale you'll be
able to sort your finances out much quicker, removing one of the major
hurdles between you and a new start.
New beginnings are all very well. But
what if one party would much rather not move out of the family
home? You could consider selling your home to us then renting it back
long term. This solution allows you to release equity for divorce or
separation without the disruption of a move for all the family. This might be especially
helpful if you still have school age children , or insufficient
equity to buy a new property or one party is unable to buy the other
But whether releasing equity in this
way will produce a beneficial result for you financially depends on many
things. On the property, how much equity you have and the affordability
of any sell and rent back arrangement.
Releasing equity using a sell and rent
back arrangement also has it's drawbacks. You won't be offered the full
market value for your property and you shouldn't (generally)
think of it as a permanent solution - although it can be long term.
Whether it's affordable long term
really depends on the individual characteristics of the sale - including
your circumstances. Not all properties are equally suitable for one
Will the sell to rent back route work
for you? It depends on whether the outcome is affordable long term and
lets you raise sufficient cash.
Only you can make the best decision for you.
You can release equity for your divorce or separation in a number of ways. It's
probably in your best interest to explore more than one option.
Finding out a bit more about about how
we may be able to help is straightforward...
We have an "open door" approach. If
you'd like to have an initial chat about raising cash for divorce or
separation using property call us on 0800 043
Alternatively, complete the form below