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Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Ex wants to buy me out but will only pay mid point between valuation and initial purchase cost

79 replies

Timeline · 28/12/2024 12:34

Hi

My ex thinks that estate agents inflate prices. I got a valuation today and my ex wants to take a half way point between what we paid for our flat and what valuation is. The valuation was worked out by looking at sales prices of comparable flats in the area.

Also, my dad has done renovations for free on the flat and my ex would be benefitting from this, and not taking any of that increase in value into consideration.

My ex thinks he is being reasonable and acts like what he is saying is completely normal. The problem is that I feel gaslit. This has been happening for years. He will somehow make it seem reasonable for me to bend over backwards for him and his needs and I realised this and broke up with him.

I’m going to take the valuation report to someone who can give me proper financial advice. Not sure who yet but I was going to phone a helpline.

OP posts:
LadyTiredWinterBottom2 · 28/12/2024 18:19

MerryChristmasYaFilthyAnimals · 28/12/2024 12:36

Get three valuations done and pick the average of those. That's your starting point. If he disagrees you're better to sell on the open market and get your full value of the equity.

This is what we did.

Don't let him take money off for the estate agent fees you are avoiding.

Spirallingdownwards · 28/12/2024 18:22

Timeline · 28/12/2024 13:19

I just did a quick calculation. Valuation: £230k minus remaining debt on mortgage: £110k equals £120k equity. Divided by 2 which is the standard for 50% ownership and he owes me £60k.

He has offered £22k.

No thanks Ex. We will sell and take 50% each.

Also if he does eventually buy you out do make sure you are released from the mortgage properly.

buttonousmaximous · 28/12/2024 19:02

Unless he ringfenced the deposit it's not protected so does not count as his and given the work done has benefited him in terms of the value I'd just go 50/50 split. You need to think about your future.

TimeForATerf · 28/12/2024 19:05

Timeline · 28/12/2024 13:19

I just did a quick calculation. Valuation: £230k minus remaining debt on mortgage: £110k equals £120k equity. Divided by 2 which is the standard for 50% ownership and he owes me £60k.

He has offered £22k.

I’ll bet he has. Tell him to fuck off.

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