Buying out of home in separation in Edinburgh

[ProseccoThyme]

My ex & I are not married & still living under same roof 18m after splitting up, which is hellish.

He wants to buy me out, I want to sell & since the default position is to sell, I am thinking seriously of taking him to court to force the sale.

He should be buying me out at 50% of the title deeds.

However he put in more deposit than me, so I would be happy to return our initial deposits (which I am under no obligation to do) & divide the remaining equity.

We are in Edinburgh so the market is strong & houses go for at least 10-20% over home report value. So I'd get my deposit back, plus the "market effect".

He wants to buy me out, but minusing the deposits only, so that's a far worse scenario for me.

So what I am asking is: for those buying eachother out, is it unreasonable to ask for some "market effect"?

Or have people just bought out at 50%?

Or do others just stick at the surveyor price & ignore market effect?

We jointly instructed a valuation and then my ex bought me out at half of the valuation. The valuation was current, at that point, market value. I put more the of deposit in but just ignored that (was water long under the bridge), remortgaged and gave him half the equity.

I'm about to force a sale. I put in a larger deposit and solicitor says I am entitled to a larger proportion of the equity as a result. You need to do what's best for you but make sure you get legal advice

Duh sorry I meant I bought him out...
Agree legal advice important, everything I did was under advice of my solicitor. Technically I was entitled to more of the equity (I had also solely paid the mortgage for periods at a time) but he got less of other marital assets as a counter.

I've had legal advice & been told that the likely outcome is that the respective deposits will be subtracted from the sale price & then the remaining equity divided equally- this is what I have offered but he is still refusing to sell.

I instructed my solicitor to issue the writs today, for division & sale, just so fed up with the situation.

He cannot refuse the sale (not married so cohabitation) only argue about equity split - so I've hopefully headed that off.

I wondered if others had allowed for losing out on the open market on buying eachother out? eg survey 260K but market would give 280K.

I'm struggling to buy locally, he won't allow me to relocate with kids, so selling up would really help me.

I can't comment on the market uplift but surely the split should be based as per the title deeds? I put in an £80k deposit 10 years ago: he put in zero. I own 70% of the house and that's the % of the total sale price I'd want if we split.

The title deeds are a 50% split (family home) with no agreement on the equity split.

However on sale, he will be able to contest the equity split - which is why I have tried to head that off by agreeing the return of deposits.

However he wants to make this argument at buy-out- which means I lose the extra sale proceeds.

There is no automatic right to buy out in cohabitation. I just want to sell up. He's refused the sale for 18m.

I'm struggling to buy locally, he won't allow me to relocate with kids, so selling up would really help me.
He surely has no right to do this, if you're talking about moving to one of the cheaper areas around Edinburgh, rather than, say, Wales? You would get more for your money in West Lothian or Fife. Not saying you should leave Edinburgh, just that I don't think he can dictate that you don't.

@Mistressofmany - unfortunately he can. The law is that I cannot move the children out of the City of Edinburgh without his agreement & he will not agree.

I offered to move near his friends/family/work but he is insistent that the children do not move schools. And he knows his rights, of course.

So that's why I need every penny of equity from the house.

My friend bought her husband out the marital home after a long time split up but living together. They both initially wanted it and that was part of the fight, he insisted that she couldn't afford to keep it so that the kids would lose their family home anyway.

It was resolved by getting multiple market value quotes each and agreeing what the sale price would be based on that.

I've had a proper survey, as opposed estate agents valuations (which would come back higher).

The open market would give me way more than the surveyor' valuation.

Surely it should be based on market value ie. what the house would actually sell for? Otherwise he is getting a bargain!

I have no actual experience of this, by the way, but I am in Edinburgh and know that at the moment houses are going for quite a bit over valuation. Particularly houses with gardens.

Can you check Zoopla to see what houses in your street sold for in last few months? Or Edinburgh solicitors can find this information for you

@Sootess - that's my view exactly - it's a 4 bed house with garden in a good school catchment

I think he'll sell it once I'd moved out & keep all the extra.

I've said it could go on the market & he could match the best offer. "Test the market" as the surveyor said.

It was local estate agent valuations of actual selling price that were used in my friend's case. He got two, she got two. There is no way that one surveyor value would be used.

Oh gosh @ProseccoThyme
If it's 4 bed with garden in good school catchment (particularly high school) I'd be going for market value. Of course if he buys you out you will save your 50% estate agent fees
Have other houses round you sold recently?

The estate agents have all said it would come back higher than the survey (which is a home report type valuation).

Of course, he wants to buy me out based on the lower figure.

Good grief I'm really sorry to hear that OP and that I gave you inaccurate advice - I was basing it on the families I know of where one parent lives quite far from their ex. Probably it was the non resident parent who decided to move in those cases.

The Edinburgh property market is on fire OP. You are right to force the sale as properties usually sell a good bit over their valuation.

So what is his argument for not selling? In my friend's case it was that it retained the DCs stability with their school and friends and that the costs of her buying elsewhere in the area wouldn't be possible within her budget and she'd need to downsize considerably. Her ex also wanted to retain the house. In the end he agreed for her to have it and despite pleading poverty, bought a bigger house a few streets away...

However, the both agreed to use market value but that was maybe easier to agree to when they both thought they might be the ones staying or going.

@ProseccoThyme I am in Edinburgh and last 2 house by me went to closing date in 7 days!
Both in last 6 months

He sounds like a dickhead. He should buy you out at market rates or it gets sold.

@WaxOnFeckOff - he wants to retain the house in catchment for kids school.

But I need enough to live there too!

I can't even afford a flat just now, so by selling up it could help with that extra.

Yes, the market is hot here, very little supply on sale & going to closing dates quickly.

My budget is 200-230K, including maintenance. I'll be the main carer. It's not enough 😩

@SmellsLikeAHamsterCage - he is an arse!!!

@ProseccoThyme I assume he's thinking about secondary catchment? I reckon then you're maybe talking about Boroughmuir/Royal High/Gillespies/Craigmount in which case house likely to sell for 💰💰 💰 💰 at moment!

I can understand why you would want to keep an address for 1 parent in catchment but it needs to be affordable for both parents to live.

Could you live further away and kids travel to school? Loads of kids (in private schools) in Edinburgh travel in /out of city every day to school

@Sootess - he won't agree to the children moving schools & I work in Fife, so couldn't manage the commute in the opposite & childcare.

Yes, one of the good school catchments.

Unless you're both high earners it's unrealistic to think you can each afford a family home in those areas.

As I say, I have no experience of this but I would be putting the house on market to get the best price possible. He may become a bit more resigned to what is actually affordable then!