“The Cash Offer Company”
Divorce is never easy and when real estate is involved, things get even more complicated. If you’re going through a divorce in Richmond VA and need to sell your house, this guide will walk you through everything you need to know.
From understanding who owns what, to figuring out how to split profits, to deciding when to sell or who gets to stay we’ve got your back. Whether your situation is amicable or contentious, selling a house during divorce doesn’t have to be a legal nightmare.
Why Sell the House During Divorce?
Selling your Richmond home during a divorce might be the cleanest solution, especially if:
- Neither spouse can afford the mortgage alone
- You want a fresh start without lingering shared property
- You need the equity to pay off shared debts
- The house has emotional weight you’d rather release
Many Virginia couples find that selling the house allows for a more equitable and less emotionally charged division of assets.
Who Gets the House in a Virginia Divorce?
Virginia is an equitable distribution state, which means marital property is divided fairly, not always 50/50. If the house was purchased during the marriage, it’s typically considered marital property, even if only one spouse’s name is on the deed or mortgage.
Key considerations include:
- When the home was purchased
- Whether one spouse contributed significantly more
- Prenuptial or postnuptial agreements
- Custody of children, which might impact who stays temporarily
Ultimately, the court may order the house to be sold, one party to buy out the other, or allow one spouse to stay temporarily before a future sale.
Options for Selling a House During Divorce
When it comes to selling, there are a few main routes to consider:
1. Sell on the Market with a Realtor
This is the traditional route list the property, stage it, allow showings, and hope for the best offer. But that can take time. Plus, both parties must agree on price, repairs, and how to handle proceeds.
2. Sell to a Cash Buyer in Richmond
If you need to sell fast without dealing with repairs, showings, or drawn-out negotiations, a local cash home buyer in Richmond like The Cash Offer Company can be your best bet. You’ll get a fair cash offer and skip the stress.
Selling for cash is especially helpful if:
- Emotions are running high
- One or both parties have already moved out
- The house is in disrepair
- You’re behind on payments or facing foreclosure
3. One Spouse Buys Out the Other
If one person wants to stay in the home, they can refinance and buy out the other’s equity share. This is common when children are involved and one parent wants to maintain stability.
However, this can get messy if the buying spouse can’t qualify for a refinance or if there’s disagreement over the home’s value.
4. Post-Divorce Sale
Sometimes the court allows one spouse to stay in the home temporarily before it’s sold, often once kids finish school or the market improves. This can work well but creates long-term entanglements between former spouses.
What Happens to the Mortgage?
Until the home is sold or refinanced, both parties remain liable for the mortgage, even if one moves out. That means:
- Missed payments affect both credit scores
- Lenders can come after either of you
- You’ll need clear agreements in your divorce decree
If selling, be sure to use sale proceeds to pay off the mortgage, or else coordinate with your attorney on how to divide any remaining balance.
Preparing a Home for Sale During Divorce
You don’t need to renovate the whole place, but a clean, presentable home will usually sell faster and for more money. Agree in writing on things like:
- Who handles cleaning or yardwork
- Whether repairs will be made (and who pays)
- Showing schedule, especially if one spouse still lives there
- How to split costs like closing fees or real estate commissions
If you’re selling as-is, especially to a company like The Cash Offer Company, you can skip most of this.
Tax Considerations When Selling During Divorce
Virginia homeowners may qualify for a capital gains tax exclusion of up to $250,000 per person, or $500,000 if you’re still filing jointly. But you’ll need to:
- Have lived in the house for 2 of the past 5 years
- File jointly (if claiming the full $500k exclusion)
- Sell the home within a certain timeframe
Always check with a tax advisor or the IRS for up-to-date advice.
Legal Help and Mediation
Selling a home during divorce often requires guidance. A divorce attorney can help ensure you:
- Protect your interests
- Don’t give up property rights unknowingly
- Follow Virginia court procedures
You can also use mediation if you want to work through the sale without costly litigation.
Why Richmond VA Homeowners Trust The Cash Offer Company
The Cash Offer Company is a trusted local buyer serving Richmond and surrounding areas. We specialize in helping divorcing couples sell their homes quickly, fairly, and without hassle.
What sets us apart:
- We buy houses in as-is condition
- No fees, commissions, or repairs
- Fast closings, often in 7–10 days
- Total discretion and professionalism
- We work with attorneys and mediators if needed
If you’re navigating divorce and don’t want the added stress of prepping and selling a house, we’re here to help.
Final Thoughts
Selling a house during a divorce in Richmond VA can feel overwhelming. But with the right information, clear agreements, and help from local professionals, you can navigate this chapter with confidence.
Whether you choose to sell traditionally or want a fast, clean sale to a cash buyer, you have options.
Need to talk with someone now? Contact The Cash Offer Company today at (804) 215-4004 or email info@thecashoffercompany.com. We’re ready when you are.
Disclaimer: This blog post is for informational purposes only and does not constitute legal or financial advice. Always consult with a licensed attorney or financial professional when navigating divorce and real estate matters.