Getting divorced is always difficult, even if it is the best solution to a bad situation. Being forced to divide a shared life to allow both partners to move forward alone can take a great deal of time and patience. One of the final assets, but most expensive, to be liquidated is normally the house. Not only does it represent a significant amount of money but it usually also holds many memories and emotions that must be overcome to complete the sale. For these reasons, it can be very wise to choose to sell your Phoenix, AZ home to an investment real estate buyer.
A conventional home sale can take many months to complete. There are home showings, offers and then finally an appraisal and closing. All of these tasks take time to schedule and can require special timing to meet the needs of the buyer and their current living situation. But the last thing that sellers who are getting divorced want, is to drag out the selling process any longer than is absolutely necessary. They know that as one of the final steps in the divorce process, they are close to being done and being able to move forward in their lives. So deciding to sell to an investor can make the transaction much faster and less emotionally charged for all parties involved. Investors normally complete the transactions in cash so there is no need to wait for appraisals and bank approval for the loans. In many cases, closing can occur in as few as seven business days.
An investor is also looking at the potential value of the home for resale and not necessarily at its current condition. Buyers normally want a turnkey home that is ready to move into. This means that sellers must find the time and resources to make repairs and updates before marketing their home. If they choose not to complete the renovations, the home is considered a fixer upper and will likely sell at a much lower price. The solution is to sell to an investor who is already planning to make repairs and upgrades to increase the home’s value before he or she resells it. And because investors are well educated about the current market and market value of properties, they are willing to offer the owners a fair price in addition to the fast closing time frame.
Being able to simplify a home sale during a divorce is a great way to make a terrible process just a little less difficult on both parties. Choosing to sell quickly and for a fair market price to a real estate investor allows both sellers to end the process of divorce as quickly as possible and to begin to rebuild their lives as individuals. It is a great option for everyone involved.