Buying out my ex partner

Roberts83

Hi all,

My partner and I have recently split up (not married, no children). We bought a house together 5 years ago and I am now planning on buying him out of it. Everything to do with the mortgage was done 50/50 including deposit, bills, repayments etc. We currently have roughly £86k left on the mortgage.

My question is how do I go about getting the correct valuation for the property?

We bought for £112k when the market was relatively low, we have done a lot of work on it but at the end of the day it is still a 3 bed semi with no hallway or dining room. We have currently had two estate agents round who have valued the property at £155-£160k and £160-£165k but I think they are valuing it too high. I've done a quick valuation on zoopla which came back at £130k but I understand this doesn't take in to account the renovation standard etc.
We are being civil at the minute and want to sort things out fairly for us both but if we agreed on £160k then I would have to give him almost £40k to buy him out which seems a little excessive.

Does anyone have any advice about all of this?

Thanks.

Caz3121

I would take the Zoopla valuations with a pinch of salt. Friend put house up for sale at £425k as advised by estate agent, sold at £410k. Zoopla shows £360k
The difficulty may be getting agreement on the valuation. I am guessing if he was buying you out you may not think that the valuations were too high. Does he have an indication on what the value would be?
Will the valuation affect whether or not you will be able to get a mortgage in your sole name for the outstanding + payout?

Roberts83

I should be able to get a mortgage based on those valuations but to be honest I really don't think it is worth that. We both were thinking more £140-150 max.