Buying ex out of house - can't agree what's fair?

moneyistooshorttomention

Lloyd90 wrote: »

Also this! He could possibly claim that that £10,000 was originally a deposit representing a % (was it 10%?) in which case the initial £10,000 he contributed would now be £30,000.

I highly doubt he'd have a leg to stand on without that noted legally though.

That's a very good point - so no wonder he's arguing that you shouldnt charge him a portion of non-existent EA fees. Add that you don't have the hassle/expense of moving.

So - I agree that he should have whatever-that-£10000 is worth now returned to him. Not just £10,000 (and not even any increase on it for RPI inflation - never mind house price inflation).

That was certainly exactly how I thought when I bought my first house (on my own) - I put in £10,000 deposit (on a house costing about £33,000) - so not far off a third of the cost was my deposit. When I sold the house many years later for around £170,000 - then that £10,000 had become somewhere in the region of £50,000 (courtesy of house price inflation) iyswim. I would have been more than a little upset if I'd had to hand over £40,000 odd of my money to someone else (ie the £50,000 approx my deposit was now worth - minus the figure of £10,000).

getmore4less

good point about the £10k

There is still a £200k mortgage on a £300k house.

max the £10k deposit could have been was 5%


Bought 3 years ago so the mortgage would have been bigger and the £10k was towards the deposit so probably more put in and then you have hte costs and how they were paid.

Need the total purchase costs and the cash injections to work out what that £10k was worth then and now

max £15k. now.