How immediate is a court-ordered sale of the Marital Home?

[ThePinkPussycat]

One possible outcome of my court proceedings re financial settlement after my recent divorce is that the court will order the immediate sale of the Matrimonial Home (kids all grown, btw).

I know we will have to pay to have a valuation for the court. Will the valuation include a discount for quick sale, or what? Presumably we would have to take the first offer that met the 'official' valuation?

How long does this take in practice? It's fairly big and modern, not much demand atm.

[cestlavielife]

i cant se how a court can order immediate sale tho can order imediate putting on the market.

you cant conjure up a buyer....

tho if has a huge amount of equity and you can afford to take a low offer then different scenario?

[ThePinkPussycat]

Well, that's exactly my problem cestlavie. And what if there are no offers? Obviously, the court would prefer us to settle this between us, but as ex has no solicitor, I don't think he realises the full implications. (he wants sale, I want house)

I used the phrase 'immediate sale' cos that's what it seems to be called on sol's sites and things. But can't find what this means in practice.

[cestlavielife]

can you buy him out?
that could be done "immediately" ie as long as paperwork takes

if you want to buy him out and can afford to do so then i dont see the issue other than agreeing a price.

if sale is to you then what is his problem?

[ThePinkPussycat]

No I can't. It's too complicated to go into detail here. I know you are being helpful however I have considered all solutions, so I am just trying to do a 'what if' for if the court orders this. I actually don't think they will, but ex doesn't seem to realise there will be a cost to us both if they do - he thinks he will have 'won'.

[Collaborate]

An immediate sale means placing it on the market immediately. You are guided by the estate agents as to asking price, but it's not meant to be a fire sale.

[ThePinkPussycat]

But by then the court will have an official value for the house, by an estate agent who is specially qualified to do this. Hence I'm imagining it must be a bit different from an ordinary house sale. Ex can't move out till it's settled, how long would the court expect us to go on living under the same roof waiting for the MH to sell after a clean break order? Would we even be able to drop the price below court valuation?

Will also ask my sol :)

[cestlavielife]

the court wont value your house.

[ThePinkPussycat]

My sol has explained that the court can order a valuation, me and ex have to pay for it, the estate agent has to be specially trained to do such a valuation, then that is the figure used when considering the financial settlement.

[ThePinkPussycat]

So they are, as it were, ordering us to get it valued, by someone qualified to do this for financial settlement cases.

We have First Appointment already lined up for April - that is when court would tell us we had to do it. Of course ex and I can come to an agreement any time, that's why I need this info.

[cestlavielife]

i would get some market valutaions done free by estateagents anyway - ask for realistic ones! to get some sort of ball park figure then when you get he RICS surveyor valuation you will know if it falls v short or not of supposed market valuation.

[ThePinkPussycat]

Have already done that for Form E. It is in my interest for valuation to be low btw, and in his for it to be high. Hence the specialist valuation I expect to have to have done.

[Spero]

The court can order it to go on the open Market for immediate sale. If you can't agree a sale price, get a paid for valuation or get three free estate agent valuations and pick one, or mid point etc.

If one or the other of won't co-operate with a sale the court can force it through, but it can't find you buyers - if no one wants it, it won't sell and you will have to think of another solution to dividing the finances.

[ThePinkPussycat]

Sigh. My sol says the court can order that we get it valued in this special way - it's called a marital home valuation or some such. AIUI that fixes the value of the house in working out the settlement. Of course I would rather ex and I agreed something, but it seems unlikely to happen, and all I can do is present my case and see what the court decides should happen.

[Spero]

It's going to be difficult to sort out a settlement if you can't fix a value on the house as I imagine it is goingto be your main asset or at least one of the most substantial ones. It might go on to sell for less or more than you fix but that's life I'm afraid. Court will take a pretty broad brush approach. only way to achieve certainty is to sell it and put proceeds of sale in solicitors account to divide later.

[ThePinkPussycat]

Can't sell it - as we both need money from it to buy houses for ourselves. Much much easier if I can stay here, just trying to look at the worst case scenario though.

This court-ordered Matrimonial valuation will fix the value of the house - so I'm trying to find out the ramifications of that.

[ThePinkPussycat]

And if we can't agree, the court will decide for us

[Spero]

The court will NOT decide the value of the house. The court can order you to PAY for a valuation of your house. You then put it on the market and see what you get.

If you don't get a value I don't see how the court can ratify any consent order you put before it. The court needs to know that any settlement is fair. This is a massive piece of the jigsaw.

Just get it valued. Court doesn't care how you do it. If you can't agree, you will have to pay a single jointly instructed expert to provide valuation. Its pointless trying to dick around getting an artificially high or low value. Just wastes time and money.

[ThePinkPussycat]

I agree Spero! I have valued it for Form E. My sol thinks that at First Appointment, the court will order us to pay for a valuation of the house, especially as I suspect ex's Form E val will differ from mine.

That was my premise. And I am trying to find out what will happen if following this valuation, the court makes an order for immediate sale. What happens if there is no sale cos no offers? How much bloody longer do I have to live in the same house as my divorced husband? How much will it cost us in lost value if we go his route, which involves a court ordered sale?

There are no kids, we need a clean break!

[ThePinkPussycat]

And I want the house - and believe I have a good case for a split in favour of me. But am just trying to downside plan, for if the court don't agree with me, and also get more ammunition for persuading ex to agree a settlement without getting to court.

[ThePinkPussycat]

I meant in earlier post 'and if we can't agree a settlement, the court will decide a settlement for us' - sorry, just realised original was ambiguous.

[Spero]

You are right, if you disagree about valuation, court will just order one that you both pay for.

I am not sure what you mean by 'how much will it cost us if we go his route, which involves a court ordered sale' ?

Do you mean you are worried that if you sell now you won't get as much as you would in six months time?

Personally I would rather sell now at the best price I could get. There is no guarrantees the housing market will go up, could go down. And if your house goes up in value, presumably so does everyone else's so you don't gain if you are trying to buy.

[ThePinkPussycat]

Well, in his mind, we have investments (roughly stable in value) and a house valued at his value. He wants 50/50 - but it may not be 50% of the amount he thinks it will be, iyswim. Am just going to have to go with the flow, he has no solicitor so thinks all sorts of solutions (charge on the house, for example) are possible, when they are not, as kids are grown. Offer I have made gives us each a roof (i keep house, he buys one) and some capital to live on or whatever. We are not spring chickens.

Cat and I just want to stay in our home. He has lived on my money and wants to go on doing so, he has no income of his own to speak of, although self-employed, so can't move out. On Relationships, where I post a lot, men like him are called cocklodgers!

Thanks for your input, we are a unique case, I'm afraid

[donker]

got divorced 4 yrs ago, court ordered sale of home which ex stil resides in, he,s obstructed sale since as he wants to keep it but refuses to buy me out, have now filed application order so judge will agree reduction, access etc also if not sold in period of time he agrees to auction home, this is the only way i can get any result, has anyone else done this?

[sneezecakesmum]

Hi donker. My BILs solicitor said to his exP who was simply taking the piss being obstructive all along the line, that if the house wasn't sold within a reasonable time (if the court had ordered the sale when the DD was 18) it would be put up for auction and she would have no say in the matter. Her intention was to put off buyers indefinitely. The solicitor was amazing! He even said the classic words "we'll see you in court next week then?" !!

In the end BIL accepted a buy out figure from her just to be free!

[donker]

thanks sneezecakesmum, hope mines as easy as that, dont yet no what he will come up with tho as hes as sly as a fox, just hope judge can se him for what he is and agrees with my sugestions.