While divorces are often portrayed as these messy, contentious proceedings on television and in movies, the fact of the matter is that they can be quite amicable as long as both parties make good faith efforts with each decision.

One of the biggest of these decisions is what to do with the house the couple lived in while married. Often times, the optimal solution is to sell it to someone who buys houses in Utah, because doing so brings with it numerous benefits.

Reasons to sell to someone who buys houses in Utah after a divorce.

Avoid the nuisances of figuring out the ownership of the property.

If either you or your former partner wants to continue living in the home, then you’ll have to figure out how to handle the financing aspect of owning the property. This is often a long, tedious process. First, you’ll have to decide whether you want to co-own the home, at which point you’ll have to create a plan for how you’ll pay the remainder of the mortgage.

If the person who won’t be living at the home doesn’t want to make any future payments, then the other partner will have to refinance the house under their name alone, which can be an arduous process. If you decide to sell the home, though, none of these issues will arise.

Take advantage of tax exemptions.

Under most circumstances, you have to pay a capital gains tax when you sell an investment. This tax can be as high as 23.8% at times, which means you won’t get the return on your investment that you might have hoped. However, when you’re selling your primary residence, you will get a $250,000 exemption, meaning you won’t pay nearly as much in taxes if you sell your home to someone who buys houses in Utah during your divorce.

There’s even a way to double that amount up to a $500,000 exemption. If you work with a tax professional, you can structure your divorce and home sale so that it times out in a way that you sell the home during the divorce proceedings. This allows both you and your former spouse to take advantage of the $250,000 exemption, making it more profitable for all parties.

Find a more economical option.

For many couples, the decision to purchase a home is made based on their joint incomes, but when they get divorced, their financial situations are often drastically different. That makes it difficult to continue making mortgage payments without the supplemental income from the former spouse. By selling the property to someone who buys homes in Utah, you can receive a quick influx of cash and find living accommodations that are better suited to your income level.

Not only does selling your home allow you to find a more ideal financial situation, but it also gives you the opportunity to find living accommodations better suited to your new lifestyle. Whether it’s moving to a different part of the town or a new city entirely, downsizing to something smaller, or moving into an apartment or condo where the maintenance is handled for you, you’ll have the freedom to find the perfect place for your needs.

Are you searching for someone who buys houses in Utah?

If you’re in the midst of a divorce and want to sell your home, then contact our team here at Cash4Homes. Unlike working with a real estate agent who will list your property and wait for the offers to come in, you can receive an all-cash offer through our quick, easy, and fair house buying process.

Simply tell us about your property, and if it meets our buying criteria, we can provide the fastest, most stress-free sell possible. You can learn more about our process, or get in touch with us online and tell us more about your property.