buying exp out of house.What can I deduct from his share of equity?

[Mollymom]

Have had 3 valuations on the house ranging from 90-125k!?!?! Was going to make an offer on the lowest valuation but not sure if I can deduct any costs from it. Dd neds a new window in her room (exp was supposed to sort that out in September) and the kitchen is falling to pieces. Can I deduct the costs of those plus the costs of estate agents etc as if we were selling etc?

Erm, no! The valuations are presumably based on the property as it is today, with all its faults.

That is an awfully big variation, though, so if you have 2 similar and 1 way-out and haven't disclosed any to your dh yet, I suggest that you get one more valuation and work out the average of the three closest.

But yes, you can deduct "notional costs of selling", or at least part of them.

I'd disagree with Mumbles (for once) and say that you cannot deduct notional costs of sale. If you applied to court under TOLATA for an order for sale or buy-out, and the court ordered the buy-out, you wouldn't be allowed to deduct costs of sale.

From a negotiating perspective however if the alternative is the property is sold if you can't agree a price, then he may be prepared to accept what he'd get on sale.

If you've just got estate agents market appraisals so far that may be the reason for the large disparity. It would make sense for you both to pay towards a surveyor's valuation. This would cost around £300 plus vat between you. May save you thousands.

Yes they are just estate agent valuations. Good idea about getting a surveyors valuation as I think he could be difficult to negotiate with (I have a feeling he expectsme to pay him half the value of the house not half the equity).

Collaborate I'd smack you round the face with my kid glove and challenge you to a duel but I think you're probably right about notional costs of sale.

spoil sport mumble.

hmmm,

HAH! Vindicated! Collaborate, you cur, call your second immediately!