Whatever the reason for your divorce, how your New Orleans property is divided is always going to be a major point of discussion. For certain possessions it can be easy to decide who gets what. One person can have the furniture, the other one can have the car. But what happens when it comes to your home?
Let’s dive quickly into divorce law in New Orleans to see how you can possibly divide your property and if it makes sense to sell the house in divorce.
Is it legal to sell your New Orleans home?
The first thing some couples may ask when figuring out how selling their house in New Orleans while in divorce works is if it’s even legal. The good news is that it is. Divorce law in New Orleans doesn’t prohibit selling a home even while going through divorce.
But before we explain how to sell your house in New Orleans during a divorce, consider first if one of you wants to keep the house.
Deciding how to divide
When it comes to figuring out who gets the house, you can either keep it or sell it. If one of you wants to keep your New Orleans home, you can agree who that will be and formalize this in a property settlement.
If one of you wants to keep the house, that person can buy the share of the other. This means paying half of the market value of your New Orleans home to the spouse. This option is quite useful if one of you needs to live in the area for work of if you have kids who go to school nearby.
However, if you can’t decide who gets the home, it’s better to sell your New Orleans home fast.
How to sell my house in divorce in New Orleans
When the couple can’t agree to one person getting your New Orleans home, then it’s best to sell the property and simply divide the proceeds of the sale. After settling any outstanding mortgages and expenses from the sale, the earnings from the sale is simply divided in two.
To sell the house in a divorce, the couple will still need to agree on a few things. The first is the price of your New Orleans home. Both parties have input on the asking price of the home and how much they can potentially receive from the sale. You will also need to agree on the method of sale: whether you’ll hire an agent, list it as FSBO, or find another way. If you’re going with an agent, both of you will need to agree on the agent and must work together throughout the sale.
Whichever method you choose, you should always take a look at properties on the market that are similar to yours. Get an idea of the going rate for a property like yours so you’re prepared when meeting with agents and home buyers.
Normally, going with an agent is a pleasant experience. You get to have a professional guide you along the way and help negotiate the deal to secure the most profit. But if you’re looking to sell your house fast in New Orleans, the best option is to approach a cash home buyer. Cash home buyers mat offer a bit less but going with a professional home buying company like Albatross Home Buyers means saving more in the long run by not paying commission fees and sometimes closing fees.
At Albatross Home Buyers, we buy houses in New Orleans, LA in any condition and in whatever situation you may be in. Whether it’s divorce, bankruptcy, or foreclosure, Albatross Home Buyers has your back.
Our process is simple and fast. Give us a call and we can schedule a property viewing. After seeing the home, we can give you a fair cash offer in just 24 hours. From there, we give you the driver seat by letting you choose the closing date. We can close escrow and transfer your money within 14 days from accepting our offer.
Selling your home in divorce can be quick and easy. Book a consultation at Albatross Home Buyers today and let us help you sell your home fast in New Orleans!