Selling property due to split(2 Posts)
Am currently selling a property with my ex partner, have 'sold' it twice and both times it's fallen through as the exchange anc completion dates were upon us, it's now back on the market and it HAS to go this time. It was bought as a doer-upper, needs ALOT of work and the price it's on for reflects that
My issue is that I am now desperate to get on with my life, and cut all ties with ex, BUT he won't (I suspect can't) buy me out, the mortgage is quite a lot, and he won't come down on what we will accept as an absolute lowest price to encourage a quick sale, I can't afford to walk away with nothing, and I don't know what, if anything, else I can do
I certainly don't want to be paying half for a property that I haven't lived in for the last 6 months for the next 28 years, so he can live there and get in with his life when I can't get on with mine. The property is not being maintained, looked after or improved, so as time goes on it is loosing any value it has, & I don't want to not pay the mortgage so it's repossessed cos we'll loose everything then and end up with trouble in the future getting a mortgage, I just don't know how I can get out of this awful situation
When people split up and property is involved, how does it work if one of them refuses to move out, agree to selling price, can't buy the other out etc?
Do I need to speak to a solicitor?
I am no legal expert but I think you can get a court to order to force it goes to auction if not sold on open market within X months.
Auction market value will tend to be lower than open market as its generally a pool of buyers who have no need for a mortgage.
I'd work out how much of a price hit you can afford, set that as your reserve and then go for it.
Join the discussion
Registering is free, easy, and means you can join in the discussion, watch threads, get discounts, win prizes and lots more.Register now »
Already registered? Log in with:
Please login first.