Selling Your Home During a Divorce in Chicago

If you’re wondering about the ins and outs of selling your home during a divorce in Chicago IL, this article will dive into the steps and things to be aware of.

With over 50% of American marriages ending in divorce, many Chicago IL residents are looking for advice on selling a home during a divorce.

A home is one of the largest investments you will ever make. An incredibly valuable joint asset when two people decide to buy one together, and one that clearly cannot be divided in half until it’s liquidated. Divorces can be stressful and emotionally charged life events, so it’s important to remain rational especially with regards to finances and your home. Below are some recommendations.

Determine if (and when) You Will Be Selling Your Home During Your Divorce in Chicago

In many divorce cases, one spouse will keep the house and buy out the departing spouse’s share.

In many cases, agreements are made where one spouse uses the house for a set period of time (usually for the benefit of providing more stability to children living in the home), and then sold at a certain date (when the children reach a certain age).

Get Professional Help – Agents and Home Buyers / Investors

Selling a home can be challenging when everything is going well.

During a divorce, there is a lot more going on, and a lot more to consider. We don’t recommend taking on the task of selling your home yourself. Choosing to sell it yourselves can lead to disagreements between spouses about selling price, list agent, and other issues. By working with a real estate professional, you’ll both have a neutral third party who can help you determine a fair selling price and handle tall of the marketing and sales pieces.

If you need to sell your Chicago house fast, reputable local real estate investment firms like Property People LLC may be a great option.  Firms like ours actually BUY HOUSES (rather than listing them like agents do). And we pay cash and can close quickly if you need to sell fast.

If you can wait the time it takes to list with an agent and sell it on the open market, going with a real estate agent is your best bet. Especially if your home is in excellent condition. You may find that the lack of turn key inventory in Chicago over the last year or so greatly benefits you, possibly even garnering a sales price higher than your asking price (and multiple offers).

But if you can’t (or don’t want to) wait the 3-9 months it sometimes takes to sell a house in this market in Chicago, reach out to us to see what we can offer you for your house during your divorce.

Set (and stick to) a Timeline

It’s important when selling your Chicago house during a divorce to keep a timeline.

Try to put your home up for sale in advance, if possible. Set firm closing dates, moving dates and times, and coordinate which spouse will be handling the sale (or serving as the point person between you and the real estate agent). Making sure that each of these agreements is in writing, and negotiating penalties for breaching the agreements, helps ensure a smooth, surprise-free home sale.

Selling Your House Fast For A Fair All-Cash Price

One option that many divorcing couples have turned to in recent years is making a quick sale to a real estate investor like Property People LLC.

Reputable local real estate investors purchase houses quickly and without stress, and the process can often take as little as 14-21 days.

Deciding how to sell a marital home in Chicago doesn’t have to be as stressful as the divorce itself.

By protecting each party with a qualified real estate agent–or jointly deciding to sell (and selling fast to a real estate investment firm like Property People LLC) and moving the process quickly and according to an agreed upon schedule–all parties can walk away from the sale without stress.

Give us a call anytime at (312) 857-8572 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 chat.

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