We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
BI offer accepted but wot about legal stuff
Options

its-hapnin
Posts: 39 Forumite
i'm happy, happy, happy :j
the offer to buy back my OH's interest in our house has been accepted!! in their letter they ask me to send them a cheque immediately and that they will confirm in writing that they have no further interest in it.
is that it?? does anyone know? do we have to do all the legal stuff after that? nothing else is mentioned.
it feels like a weight has been lifted
thanks in advance x
the offer to buy back my OH's interest in our house has been accepted!! in their letter they ask me to send them a cheque immediately and that they will confirm in writing that they have no further interest in it.
is that it?? does anyone know? do we have to do all the legal stuff after that? nothing else is mentioned.
it feels like a weight has been lifted

thanks in advance x
0
Comments
-
Is this with the OR or a trusteeHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
hi debtinfo
the trustee is dealing with this0 -
The process you will have read about many times is the one the OR uses, the trustee can use any system they see fit, but what you really want to get to is that when you look at the land reg all restrictions have been removed so at the end i would ask for a copy of the land reg to make sure this has happenedHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
thank you.
every day's a school day!0 -
Hi Its-Hapnin.
Glad to hear you've had an offer accepted :j
Do you mind me asking, did you pay the full amount of the trustee's valuation of BI, or did you make them an offer? I'm asking because i'mn waiting to hear back from the trustee, we've submitted a 2nd offer...
Thanks0 -
Hi Its-Hapnin.
Glad to hear you've had an offer accepted :j
Do you mind me asking, did you pay the full amount of the trustee's valuation of BI, or did you make them an offer? I'm asking because i'mn waiting to hear back from the trustee, we've submitted a 2nd offer...
Thanks
the trustee didnt do their own valuation as far as we know. we sent in 2 estate agent valuations stressing that they were only suggested marketing prices along with proof of who put what into the house in the first place (we paid unequal amounts when we paid our deposit).
hope that helps0 -
Hi happy to hear its working out for you!
Same as person before dont want to sound cheeky but what percentage did you pay of the valuation amount? We had the house valued and sent the report to the trustee months ago and they came back with the amount we had to pay for the house. We have just submitted an offer to the trustee for 80% of the equity amount and just wondering how successful we might be.0 -
in_need_ofhelp wrote: »Hi happy to hear its working out for you!
Same as person before dont want to sound cheeky but what percentage did you pay of the valuation amount? We had the house valued and sent the report to the trustee months ago and they came back with the amount we had to pay for the house. We have just submitted an offer to the trustee for 80% of the equity amount and just wondering how successful we might be.
in the end i only paid £500 to buy back my OH's equity. our situation was a bit different cos when we had first purchased the house i had put more deposit into it
what was more important to us was that they looked at it fairly and split things according to who put what in (we already had a legal document drawn up when we bought it stating that). luckily they areed with that and we didnt have to fight it
good luck with the offer. i would have thought 80% is v reasonable but who knows how they work. let us know how you get on x
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards