If you’re a married homeowner facing divorce, you may be wondering what happens to your house. How is it divided, or who stays in it? Is it even possible to sell it during a divorce?
It is likely that you have any number of questions, and this blog post provides some answers. Read on to learn how to sell a house during a divorce in Kansas.
What to Expect
The first thing you should know about Kansas is that it is an equitable distribution state. Property and debt can be fairly divided in a divorce between divorcing couples, unlike in community property states where all assets are shared jointly. Moreover, the minimum residency requirement to file for dissolution of marriage in Kansas is a minimum of sixty days.
Including the house in your divorce settlement is possible if you and your spouse agree. If you cannot come to an agreement, your case will be decided by a judge.
Depending on the circumstances, the judge may order the sale of the house and split the proceeds between the two parties. Alternatively, one party may receive the house while the other receives other assets of equal value.
How is Property Distributed?
Despite the fact that one spouse may have owned the property before marriage, this does not automatically mean that they can keep it after marriage. Some judges may place a higher value on a home. However, it will likely remain a marital property and be divided accordingly.
According to Kansas marital property laws, the value of a couple’s property is usually split equally. However, the court may award a larger portion to one spouse depending on a variety of factors, such as:
- Age difference
- Type of property
- Separate property value
- Skills and educational background
- Debts owed and future expenses
- A person’s fault for causing the divorce
- Differences in earning capacity or income
Based on specific criteria, dependent spouses tend to receive a greater share during the divorce.
Who Gets to Stay in the House?
During a divorce, if the parties cannot agree on who will remain in the home, the status quo continues, and neither party may kick the other out. Unless there is a court order, spouses should resist leaving the marital home as early move-outs can be used to argue that the spouse who left has enough money.
However, a petition for a protective order may be filed if either spouse exhibits significant negativity, threatening, or harassing behavior toward the other.
The Home Selling Process
A court order or an agreement with your spouse will require you to list your house for sale and follow the standard home-selling procedures. This process involves listing the house, showing it to potential buyers, and negotiating the sale price. Upon the sale of your home, you must pay off your outstanding mortgage debt as part of the divorce agreement.
Preparing Your Home for Sale
To prepare your home for sale, you should:
- Make sure the necessary repairs are made. Potential buyers will be more attracted to your home if you make it more appealing to them.
- Declutter and stage the house. When a home looks inviting, potential buyers will see its potential.
- Do your research. In order to correctly price your home, you need to research its market value.
Handling Negotiations
Putting your house on the market means negotiating with potential buyers and their agents. Remember that you are not required to accept the first offer you receive. Avoid being swayed by lowball offers, and keep an open mind. As part of the negotiation process, you should also prepare to negotiate the closing date, the price, and any repairs (if applicable).
Finalizing the Sale
After accepting an offer, you’ll need to sign a purchase agreement with the buyer’s agent and schedule a closing date. Upon closing, you will hand over the keys to the buyer and vacate the property.
Sell Your House As-Is in Kansas with Favor Home Solutions
While the process outlined above may seem straightforward, several factors can go wrong and make the home selling process a nightmare. At Favor Home Solutions, we know how time-consuming and stressful the divorce process can be. Our team is ready to assist you and provide you with a fair, no-obligation cash offer for your home.
We’re committed to helping you put this chapter of your life behind you and start over. Contact us today if you want to sell your house fast without paying an extra dime on repairs or fees!
