The current economy and housing market in Hawaii and the mainland U.S. have placed unusual stress on families of late. This stress is proving to be the straw that broke the camel’s back for some, resulting in divorce when the pressure gets too be too much. Divorces can go either way. While some splits are amicable, there are always a percentage of divorces that prove to be…difficult.
Splitting the assets that have been accumulated over the years can be a very trying process. People don’t usually get married without some history. Assets like cars, furniture, and jewelry can be bad enough, but when it comes to property there is a lot to lose and you might find yourself stuck between a rock and a hard place financially. However, there are options to help you get through these tough times.
In Hawaii, prices usually run somewhere between $300,000 and $550,000 for a typical single family home. In Oahu, a 2000 square foot house could sell for over $600,000. If your home was in the beautiful area of Diamond Head, near the beach, your property could easily be worth double or triple that, but obviously you and your ex can’t just split the house down the middle with a chainsaw. Trying to resolve a property dispute can leave a divorce in limbo and might only add fuel to the fire, constantly reminding you of the pain you’re going through.
It’s not uncommon for a judge to order a property to be sold and the assets to be divided. Many couples agree to this because neither wants to live in a place that constantly reminds them of their partner and their former relationship. If one spouse does decide to stay in the property, this is normally because of concerns for the kids and often turns out to be only temporary as the same mortgage payment on one income can be too much to bear.
Even deciding the terms of the sale can be a potential landmine. Will you use a realtor? What will happen to your penthouse? The last thing either of you want is for the property to sit on the Hawaii MLS for months as you continue to incur more mortgage, insurance and tax expenses. You’ll need the closure and, frankly, you might also need the money.
THERE’S HELP OUT THERE!
Fortunately, you can avoid all this stress by dealing with a local Hawaii real estate investor. The advantage of choosing this option is that an investor usually closes the deal in under a month and will likely pay in cash, helping ensure a successful closing. These are advantages worth paying for.
There are other advantages too. You won’t have to spend your valuable cash on months of extra mortgage payments. Next, you’ll save significant money on commission since real estate investors don’t usually have agents. That 6% on a $500,000 property is a lot of money back in your pocket – $30,000! Lastly, it’s often the quickest way out of your trouble so that you can move on with life. Most investors are used to dealing with divorce attorneys too, which will save you and your ex the trouble of having to go back and forth between lawyer and buyer.
Chances are that you put a lot of love and energy into your house over the years and it’s been an important part of your life. Letting go of the memories can be extremely difficult for many. Bear in mind that you aren’t on your own. This situation affects millions of people in America, and if they’ve made it through so can you.
There’s nothing more frustrating than paying rent to stay in a separate property from your partner while maintaining payments on your house so it doesn’t end up headed to foreclosure or trustee sale. Avoid this headache and financial drain by going to a local real estate investor.
The price on the market may not be perfect, and it may not be how you pictured your life, but there is hope for selling your property, maintaining your sanity and health, and still coming out with enough money in the end.
When it’s time to divide up your property, don’t get stuck in the same financial nightmare that many American couples go through. Although it’s difficult to sell a house that you’re attached to, the closure that you’ll feel afterwards is worth the effort. Any day is a good day to take positive action to SOLVE YOUR DIVORCE PROPERTY PROBLEM.