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Selling matrimonial property

6 replies

Notmyyearthisyear · 09/01/2022 08:13

Hi
In the event where you have to sell, how likely would you say is that (in the current sellers market!) both parties will be able to buy at the same time without going into rental? Is that a chain impossible? Or is there another step in forgetting about? This is purely a process question, finances are on to allow purchase of two properties.
Any thoughts/ experiences welcome! Thanks

OP posts:
Notmyyearthisyear · 09/01/2022 08:15

Sorry about the typos hope the post still makes sense!!
*how likely would you say it is
**step I’m forgetting about

OP posts:
LegoCardSwapper · 09/01/2022 08:31

Not quite the perspective you're after but we bought from a separating couple going into separate homes. To be honest, had they been upfront and told us it was a split chain, we wouldn't have entertained it. As it was they lied to us and it only became apparent much later in the process when we were invested financially and emotionally but it was an absolute nightmare. It didn't help that they clearly hated each other at this point so just blamed each other all along.

I actually think he ended up staying with family and going into a hotel briefly after he moved out.

My only advice is to be totally upfront and honest. And use the same conveyancer to avoid hold ups. It's an added layer of stress and uncertainty, that's for sure.

Notmyyearthisyear · 09/01/2022 12:56

No I appreciate every perspective and experience so thanks for that. I kind of feel that it’s going to be a nightmare but haven’t quite gotten my hear around it yet.

OP posts:
DelphiniumBlue · 09/01/2022 13:03

I think it will be very difficult to synchronise, so you would need a fallback plan if it didn't work out. Maybe one of you going into rented/AirbnB temporarily if it comes to it, and division of proceeds being adjusted to reflect that extra cost?
If you are not amicable, there is less chance of it working out, in conveyancing chains there is often a need for compromise and if you can't pull together on this, how will you negotiate on dates etc?
In an ideal world, you would have a conversation with your ex and try to work who would go into rented should be necessary, so that if it does happen, you already have an agreed strategy.
Otherwise you are complete hostage to fortune.

Notmyyearthisyear · 09/01/2022 18:18

Thanks everyone. This just feels insurmountable at the moment. With every month what I can afford becomes less, and I’m just feeling so stressed and worn out 🤦🏼‍♀️

OP posts:
PotteringAlong · 09/01/2022 18:29

I think you might have to drop the price of the property to make the split chain look more attractive

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