Help - Ex trying to force me out or pay more for her share

ValHaller

notrippedoff wrote: »

Vall Haller
I (possibly wrongly) think you are over estimating the family but I could be wrong, they have never struck me as being particularly sophisticated with business, legal or financial matters. I agree however that understanding what they want is a key objective.
I did approach this with a ‘what would happen in court’ question. I need to try and understand if the scenario would sound reasonable to a judge. I don’t want to back down and pay more than is fair if I don’t have to. I also don’t want to be bullied out of my home where I am happy.

Well, families which have a bit of money often have friends who will put them up to tricks.

In your position, I would be making an open market offer with a specified return of equity after deduction of notional selling costs. If that was rejected, I would let it go to the open market and accept that I had lost if my offer was topped. Which means making an offer slightly more generous than the market will bear. You'll be better off by not having removal costs nor the costs of buying. Additionally, I think it would be fair to make it clear that your offer was off the table if it did go to market - so that you only needed to match the best bid.

Ultimately, if your offer is not accepted, you should let it go to market.

LannieDuck

notrippedoff wrote: »

LannieDuck
That’s exactly what I think it happening.

If however I was to offer £32,600 and framed it as in the example given my ValHaller above then my offer would only be consistent with her offer for my share. Although I didn’t want to go this high I can raise the funds so this is a realistic possibility if I decided I’d run to £32,600. In this case would a judge see me as being unreasonable, as I am only matching their offer to me? If it’s them that want to sell and I have matched their offer then how would I be unreasonable?

I think if you increase your offer to £32k, your ex will accept. I think her strategy has been aimed at getting you to increase your offer (esp since you say she doesn't really want the house).

...but I'm only saying that based only on your previous posts. You know your ex far better than we do

Edit: Sorry, just seen that they refused £31k. I'm surprised, but I think now you're in a much, much better position if it goes to court (esp since they've previously made an offer to buy you out at £31k). I would make a formal offer at £31k and see what they say. If they still turn it down, discuss with your solicitor how it's likely to play out in court. At the moment, they've got you upping your offer, and maybe they're waiting to see how high you'll go?

LannieDuck

notrippedoff wrote: »

The only things in writing are an offer to buy me out for 31k and an offer to sell at 37k....The ex has said to me and I have said to her that we both want a fair outcome ...The issue remains on the value. She stating it’s worth 225k, what we bought it for in 2007. Her offer to sell to me at 37 is basically her 41k less selling costs, ie a value of 225k.

If she thinks her offer of 31k to buy you out was fair, on what basis is she rejecting your offer of 31k to buy her out?

In my (completely unqualified) opinion, your offer is reasonable.

notrippedoff

ValHaller
True, they may well be getting advice from someone who knows a lot about these sorts of situations. Their solicitors shock me though, they don't seem very switched on and having had feedback from someone unconnected who knows the firm, they are not highly regarded I'm told. So I doubt it's them but it could be.Also, I am aware through a contact that the family didn't follow the advice of the solicitors when it came to stating what they wanted for her share, I believe that the solicitors proposed they sell at significantly less than the £37k they have requested.

I think I will have to consider making it available on the open market to see what attention and offers it attracts. This will either support my valuation or not. As you say however I will take any offers off the table beforehand so that I only need match the highest offer we receive.

LannieDuck
Well I said by phone to a family member that I would seriously consider 31k as it was getting out of hand. They came back and said too low. Whether they would answer the same if I were to make a formal offer in writing to their solicitor is another thing.

notrippedoff

If it went to court and they stated that they made a verbal offer, 24 hour deadline non-negotiable etc at 35k and said I wasn't interested would this go against me? Surely if they were serious this would have been made in writing without prejudice?

I would hope a judge/court would see something made in passing conversation as quite different from a formal offer. I would hope that a judge/court would see through this attempt to try and make me up my offer, it seems a bit gutless from them

ValHaller

notrippedoff wrote: »

If it went to court and they stated that they made a verbal offer, 24 hour deadline non-negotiable etc at 35k and said I wasn't interested would this go against me? Surely if they were serious this would have been made in writing without prejudice?

I can't see a verbal offer with a 24 hour deadline counting for much. What will count is offers in writing - particularly from her solicitor. If they have not given this, perhaps you should write back and ask for their proposals for buyouts either way.

zzzLazyDaisy

notrippedoff wrote: »

If it went to court and they stated that they made a verbal offer, 24 hour deadline non-negotiable etc at 35k and said I wasn't interested would this go against me? Surely if they were serious this would have been made in writing without prejudice?

I would hope a judge/court would see something made in passing conversation as quite different from a formal offer. I would hope that a judge/court would see through this attempt to try and make me up my offer, it seems a bit gutless from them

No a verbal offer would not be held against you. They can't force you to sell to her, and no judge is going to make that order. The best they can do is to get an order for sale on the grounds that, in essence, one part owner wants out of the arrangement and you have been unable to reach an agreement. But if they do start legal proceedings, then they would be well advised to make that offer to you in writing, on a 'without prejudice save as to the question of costs' basis. If this is also accompanied by valuations which show this is a fair offer (ie 50% of the forecast net equity) then you will find it difficult to persuade a judge that your conduct is reasonable in all the circumstances and you could also get landed with an order to pay her legal costs

What would happen then is that the house would go up for sale on the open market and either of you could make an offer for the house, but then you would be stuck with estate agents fees etc. You could refuse to sell to her, and wait for an independent buyer, but if you continued to unreasonably refuse to accept reasonable offers, including hers, she could go back to court for an order that the court sign in your place.

Again, if you pushed it that far, you would almost certainly be ordered to pay her legal costs.

But to be honest, going to court should really be a very last resort - only the lawyers win.

getmore4less

Get the property on the market

Be carefull of T&C's of the agents some include clauses that if an willing and able buyer is found for the asking price you strill pay the fees.,


Stick it on at the high valuation they believe it is worth.

IN the mean time you get to live there and can to some extent control the viewings and highlight all the bad points if you were that way inclined.

ValHaller

getmore4less wrote: »

and highlight all the bad points if you were that way inclined.

Don't highlight the bad points, don't leave it smelling of curry with washing up stacked high. These are all rather hackneyed tactics. Just stick with the truth - "My ex and I could not agree on a price for me to stay, so we are trying it on the market". Don't elaborate. It is well known that a property on the market with a relationship split is one to avoid.

LannieDuck

Given that you want to continue living in the house, I would make a formal offer at 31k. If they still reject it, then you may be forced down the open market route at her (high) valuation.