House split

ellywellywoo

Currently getting divorced.
House been on the market since May.
43 viewings. No offers.
I’ve moved out. Husband is still in house.
Originally up for 575,000
Now offers in excess of 550;000 since August.
I want to reduce again.
He’s saying no he won’t.
I’ve suggested he buys me out and he says yes he would but needs it revalued!!!!

I have said I need my share of the equity as I need to buy somewhere.
I’ve said I don’t want this to go to court as it will cost us. Do we both have to pay if it comes to this or would it just be me ?
He says he needs as much as possible to buy somewhere else.
Obviously I understand this but we need to be realistic.
He says I’m threatening him by suggesting he rents somewhere and I’m making him home less because he can’t afford to do that.
I’m going to have to move from the area as I can’t afford to stay in the same location. But he’s not prepared to do that.
I’m at my wits end to know what to do
Any advice appreciated please

Gavin83

You could always move back in.

pphillips

Have you checked to see what similar houses in your area are selling for?
Have you agreed on how the equity should be split?

ellywellywoo

Absolutely cannot move back in. Can’t really go into detail on here.
50/50 although he hasn’t agreed that in writing yet

pphillips

ellywellywoo wrote: »

Absolutely cannot move back in. Can’t really go into detail on here.
50/50 although he hasn’t agreed that in writing yet

What are similar houses in the area selling for?

unholyangel

ellywellywoo wrote: »

I’ve said I don’t want this to go to court as it will cost us.

My understanding of divorce law in E&W is that you'll want the court to either approve or decide the financial split, unless you want the possibility of your ex-husband making financial claims against you years or decades later.

Parties can agree what the split is between themselves to keep costs down but its not binding on a court, they can still order a different split. To reduce the risk of that happening usually both parties need to have obtained independent legal advice (so they are fully aware of any potential claims they're giving up).

I think the part Ive quoted you were referring to the sale of the house only but I just wanted to make sure you are aware that divorce does not end your financial obligations to one another. You need a court order to do that.

ellywellywoo

Sorry I meant going to court to make him lower the price so it sells.
It’s overpriced at the minute as markets have changed

pinkshoes

I suggest you WRITE to him stating that the house is over priced, needs reducing to offers over £500k, and that if he refuses to reduce the price then you will have to take him to court to force the house sale, where any costs will be deducted from his share due to him being unreasonable. Give him 14 days to agree in writing to the price drop.

Where are you living? Any kids involved?

I would move back in. That would hurry the sale along...

getmore4less

You want the house reduced he says he want it revalued to buy you out.

Same thing. The price goes down

Let him revalue as a buy out then one he come up with a figure go to best and final offers over..

Gavin83

pinkshoes wrote: »

I suggest you WRITE to him stating that the house is over priced, needs reducing to offers over £500k, and that if he refuses to reduce the price then you will have to take him to court to force the house sale, where any costs will be deducted from his share due to him being unreasonable.

Really not enforceable. The costs will come out of the house sale.

getmore4less wrote: »

You want the house reduced he says he want it revalued to buy you out.

Same thing. The price goes down

Let him revalue as a buy out then one he come up with a figure go to best and final offers over..

I agree with the principle but not the final paragraph. If he wants the house revalued and wishes to buy you out what's the issue? Let him revalue it and buy you out. You'll end up with the same amount of money either way, just with less hassle.

henry24

43 viewings in 8 months and no offers, he's putting them off buying