What should I offer to buy housemate out??

Captain_Mainwaring_2

You're missing the point, however interested you are in it, you have to look like you are doing him a favour by not letting it cost him money.

No one can value a house now, it is worth what it sells for - let it go to auction and see what happens. What the mortgage happens to be is not important, the potential liability that the property may be is however important. You are setting yourself up to pay top money for this place, and you need to think in terms of what it would cost if one party stopped paying the mortgage.

PasturesNew

If I'd bought a place with a mate that was now worth about £130k and I was happy, getting up, shuffling off to work, coming home, going down the pub ...

And if my mate's annoying other half was forever hanging about the place and wanted to buy me out, I'd want half. So I'd want £65k less half the mortgage settled. But as I was quite happy shuffling along in life I wouldn't see that I should pay any fees.

FirstTimeSaz

Captain_Mainwaring wrote: »

You're missing the point, however interested you are in it, you have to look like you are doing him a favour by not letting it cost him money.

No one can value a house now, it is worth what it sells for - let it go to auction and see what happens. What the mortgage happens to be is not important, the potential liability that the property may be is however important. You are setting yourself up to pay top money for this place, and you need to think in terms of what it would cost if one party stopped paying the mortgage.

What would you suggest i do then? Buy him out or let it go up for sale.

I know a house is only worth what some one is willing to pay for it but he does not.


PasturesNew - Different reply. But for your information we bought the house as a foursome, my other half and I and him and his OH.
The mortgage is in his and my OH's name but me and his partner have our name on the deeds saying we live there but don't own it. So i am not 'hanging' about. He is quite happy shuffling along, but the house was meant to be until we were in better positions to buy

FirstTimeSaz

Urghhhh, definately can't stand living with them much longer!

PasturesNew

FirstTimeSaz wrote: »

the house was meant to be until we were in better positions to buy

Maybe he doesn't feel that's now.

FirstTimeSaz

PasturesNew wrote: »

Maybe he doesn't feel that's now.

True, but then that will put us in a very awkward situation

mlz1413

I've just read this post through and I think your all trying to be to secretive trying not to upset the apple cart until you have a good idea of what you want. I can see why your doing that but in the big picture according to your last post you all went into this knowing you would be living together a while - and moving on after a while.

I would get all 4 of you to sit down and discuss what points you are at, be open and say that you and OH feel its time to settle down on your own and your willing to discuss having to move forward. Write down how much you think it will cost to sell up and move out, buy another place and furniture it (i'm assuming the furniture where you are is split).

Then give the other couple a chance to say how they feel - maybe they had it valued because they want to move on. Then arrange to all talk again one week later with facts and figures on how things should progress.

It should make for a better living enviroment whilst you all decide on the best way forward.

PasturesNew

FirstTimeSaz wrote: »

True, but then that will put us in a very awkward situation

Not as awkward as his... suddenly his gf will be expecting him to marry her and buy their own house and start sprogging left/right/centre
.... and all he wants to do is go down the pub and have a quiet life.

Poor bloke. Really being backed into a tight corner.

FirstTimeSaz

PasturesNew wrote: »

Not as awkward as his... suddenly his gf will be expecting him to marry her and buy their own house and start sprogging left/right/centre
.... and all he wants to do is go down the pub and have a quiet life.

Poor bloke. Really being backed into a tight corner.

That's not what it's like at all but thanks for jumping to such conclusions

FirstTimeSaz

mlz1413 wrote: »

I've just read this post through and I think your all trying to be to secretive trying not to upset the apple cart until you have a good idea of what you want. I can see why your doing that but in the big picture according to your last post you all went into this knowing you would be living together a while - and moving on after a while.

I would get all 4 of you to sit down and discuss what points you are at, be open and say that you and OH feel its time to settle down on your own and your willing to discuss having to move forward. Write down how much you think it will cost to sell up and move out, buy another place and furniture it (i'm assuming the furniture where you are is split).

Then give the other couple a chance to say how they feel - maybe they had it valued because they want to move on. Then arrange to all talk again one week later with facts and figures on how things should progress.

It should make for a better living enviroment whilst you all decide on the best way forward.

Thanks for your advice.
You're right, it is very secretive at the moment but we do definately need to sit down and get all our thoughts, worries, ideas out in the open.
Finding a time when he isn't at the pub on the other hand can be quite complicated.
Think i'll suggest tomorrow night to them, see what happens.

Thanks again