Any ideas how to ensure the house valuation is on the low side?

[Iliveinahovel]

I need a valuation to be on the low side for the house I now live in. Not out-of-this-world low, but somewhere realistic, i.e. 10% to 15% lower than an "average" similar house would be valued at. Currently the house is probably "average" with respect to the overall appeal and condition.

Have around 6 months until the valuation will be done. Any ideas? Let the garden overgrow?

@CorsicaDreaming

Re my post above - sorry, I've just read on further:

He cannot expect a share in equity you have paid off since he left - The valuation of 20% should be at the date that agreement was reached surely? Not years later when you have paid off more and prices increased (on your watch, while you were in sole charge of maintaining property and paying mortgage)

This is mostly utter stupidity on my side, but this is quite standard terms of settlement.

I could have bought him out, with little borrowing, immediately after the financial settlement was made. Say the house was 300K, the equity was 60K - so his 20% made 12K - my god, could fit under the credit card limit at that time. Then one thing came, then another, and I got scared about getting into additional debt when I was the only breadwinner.

Now the house is ~600K, equity is ~120K, so his share is around 100K. My income hasn't improved much since, as you can imagine.

I rounded / made up numbers a bit, but the proportions are accurate.

The other thing you can say is you want it priced for a quick sale.

@Cockwomblingfree

you need a good lawyer.

If you divorced a while ago then surely the value is needed from the time of the divorce, not what its valued at now? And as it was a short marriage where you owned the house previously then he'd possibly only be due half of the difference between the valuation when you married and when you divorced, so half of how much it went up in those two years rather than the entire house valuation at today's price? I don't know, that's why you need a lawyer. Its also his children's primary home, he shouldn't be able to force a sale.

If he wants half the current value as it is now, then equally you are entitled to half his assets at their current value (pension, savings, investments, everything he owns).

I'm guessing all the above, so it could all be bollocks. Try posting in the Legal Advice section, look for a poster called @prh47bridge

The OP has told us there is already a financial order in place. It depends on the wording of that order, but it sounds like it gave her ex a percentage of the equity and gave her until the end of this year to either sell the property or buy him out. If that is the case, it is the value now that matters. He can force the sale and the OP cannot now claim anything from his assets.

@SoupDragon

I had an estate agent round to value mine and told him exactly why I wanted his lowest plausible valuation 😂

Surely this is the best option?

Maybe ask for a female estate agent too?

Ignore me. Wrong thread. Have asked for deletion.

@ScruffGin

Maybe a daft question, but if it's the value-mortgage and he gets 20% of that, can you extend the mortgage - borrow however much more you are allowed to for a renovation or similar on a short mortgage, then the "paid for" bit that he gets 20,% of will be much smaller? Not sure how legal that is though...

No, I can't do anything re the mortgage as he has a legal interest in the property now. And it is explicitly not allowed in the financial remedy order, the only thing I can do is to overpay it

@CorsicaDreaming

Re my post above - sorry, I've just read on further:

He cannot expect a share in equity you have paid off since he left - The valuation of 20% should be at the date that agreement was reached surely? Not years later when you have paid off more and prices increased (on your watch, while you were in sole charge of maintaining property and paying mortgage)

This makes complete sense to me. Anything else is grossly unfair.

@Doggydoodah123. If you’d read the post. She explains it’s to buy out her EX. Who hasn’t paid towards the house. It was hers from before marriage

It’s not rented.

This is so fucking immoral. If a man came here and asked this he'd be ripped to shreds and rightly so, not indulged with suggestions. You shouldn't have married him if you didn't want to share assets.

@Viviennemary

I don't approve of helping people to diddle others out of their rights.

What rights did he have in w house he didn’t buy. Didn’t pay anything towards? And belonged to the OP before they married?!?

@Toanewstart22

The ignorance of the divorce process on this thread is striking

Presumably because some of us haven’t been divorced??

Now the house is ~600K, equity is ~120K, so his share is around 100K. My income hasn't improved much since, as you can imagine.
Ignore that, did not mean 120K equity obv, but the mortgage paid. Long Saturday here.

@MaudieandMe

Then begs the question - why give divorce related advice?

@Toanewstart22

1. Good solicitor condition includes condition that proceed if x% higher than valuation when sold is reduced

1. If he thinks you are making he property less desirable - deprivation of assets

THIS is the case op

From both a divorcee
And a para legal for a divorce lawyer

@Viviennemary

I don't approve of helping people to diddle others out of their rights.

In which case you should be right behind @Iliveinahovel.

@cakeambush

This is so fucking immoral. If a man came here and asked this he'd be ripped to shreds and rightly so, not indulged with suggestions. You shouldn't have married him if you didn't want to share assets.

I shouldn't have, you're absolutely right. Can't turn the time back, unfortunately. I am trying to make the best of a not very good situation, and not to disrupt my children's life more than it already has been.

I think you need to be very careful before damaging or neglecting essential upkeep.

I strongly advise you to get clarification on what type of valuation you are required to get (and can he also instruct his own?). I really think that you need to be clear what sort of valuation you need- as others have said RICS surveys are a very different beast from an EA valuation for probate. Damaging/neglecting the house could leave you with a big repair bill but make no/only a little difference to the end valuation- effectively shooting yourself in the foot.

And if you rip out the kitchen/bathroom or make the house appear to have a structural issue then you could make it harder to get a mortgage- or perhaps harder to get one at the rate you want- I’d think very carefully.

I’m not without sympathy, but as this agreement has been made and is legally binding, you need to make sure of where you stand, just to make you don’t do anything that worsens your position.

My ex tried to do precisely this to me. It backfired because I was then in a position to buy HIM out, and either he paid me off or I could pay him off.
All the things that have been suggested won’t necessarily alter the value of the house, but will limit the possibility of someone wanting to buy it - which the OP doesn’t want.
OP, I think your only chance is to be there when the valuers come round, mention your situation, hope they value it low. Meanwhile, put in a claim for maintenance from him asap.

@Toanewstart22

1. Good solicitor condition includes condition that proceed if x% higher than valuation when sold is reduced

1. If he thinks you are making he property less desirable - deprivation of assets

On the first point, that is correct - on sale the actual sale price minus the equity will be divided, not the valuation.

And the second is also correct

I would get three estate agents round now as well as in a few months, just in case prices rise again.

Deprivation of assists is rightfully looked up VERY unfavourable by the courts

Have you spoke to your solicitor?

I've been in your position.
The estate agent - a lovely woman of a similar age to me - was very happy to value it low to help me out.

And the courts will only expect you to offer what you can afford.

In my case I said I can afford to give you £x now (not quite the full amount but all I had), or you can wait until the kids have grown up/left home for x%.

He took the money now.

@TillyTopper

As many PPs have said you could left the property run down, but I don't think it'll have as much of an impact you want. I'd say to devalue a property you need to do something more serious such as (1) Get the boiler condemned so there is no working heating or (2) render the bathroom unusable or (3) take out the kitchen.

Eh, no, won't go as far. We live in this house, after all, and I would it to be habitable. But yes, the consensus on the thread seems to be that messiness / overgrown gardens / shabby carpets won't affect the valuation much.