In this week’s episode, we are going to talk about the pros and cons of selling your house if you are going through a divorce. If you are going through a divorce, you may be wondering “ should I sell the house?”. First off there is always the option to keep the house. We recommend speaking to a mortgage lender and seeing the options if there is a mortgage on the house. They can help you refinance the house and buy the other person out. If you are looking to sell the house, there are a lot of pros! You will get the opportunity to buy a new house that you can personalize and make your own. Also whatever equity has been built up over time can translate to some extra cash for you and your new start! Downsizing is a major pro of selling your house. Simplifying your life and getting rid of everything you no longer need is a major positive. As far as the cons you should be aware of capital gains or any extra taxes. You will have to divide assets, pay off mortgages, and you may not make as much money are you were hoping to if you have to sell early. We recommend hiring a broker, they can point you in the right direction and guide you through the process. A good broker will know lawyers, mortgage companies, movers, home organizers, and all the right people to make the process as painless as possible, so you can focus on other things. If you have any questions please leave a comment below or reach out at any time, and remember, If you Make Maine Your Home, you don’t have to do it alone!
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