Selling house - at a loss!

GDB2222

He also brings the mortgage deposit into what he thinks he's entitled to even though the bulk of it was from what people gifted us at our wedding (note, we're divorced already and papers were signed saying there wasn't anything to sort or need court help for).

Clearly, with the benefit of hindsight, you should have got the court to issue a financial order when you divorced. I don't know whether you can still get that, but it will no doubt cost a small fortune in legal fees if you do.

The starting point ought to be 50/50 on whatever equity is in the house. You say the deposit came from wedding presents. However, perhaps the bulk of those came from his family or friends? I'm struggling, otherwise, to see the relevance of the deposit to this calculation?

One practical problem you have is that he is currently a joint owner of the property, and you cannot sell without his permission. You could get a court order to force a sale, but that could take months and cost rather more in legal fees than the amount he is asking for.

Thrugelmir

SparkleUK_ wrote: »

(note, we're divorced already and papers were signed saying there wasn't anything to sort or need court help for).

Why wasn't a financial consent order drafted?

Crashy_Time

SparkleUK_ wrote: »

Thanks also Sharp910sh.
A little bit reassuring to hear there may be so hope in the matter!

My suspicions are he is banking on the house to help him pay things off that he has going on as to why he's so adamant he needs money.

I don't want to be unfair or it to be all about money but sadly seems it is the necessary evil in life nowadays! If there was a lot of equity in it, I would understand but there really isn't.

Many people banked on this, he is not alone there.

TripleH

When did he leave? How long have you bern paying the mortgage on your own? Did the payments come from an account solely in your name? Can you drmonstrate where any money paid into thus account has come from?

Eg. Op has 1 bank account in their sole name which they have used to make say 18 payments towards the mortgage from, which has paid £2,000 of capital off loan. The money coming into that account has only come from their employer, no-one else.

The property sells and after feex etc there is £5,000. Op says here you go, evidence that only I paid the mortgage so I take £2,000 for me and we split the £3,000. It might not work, but if you argue rationally and supported by evidence, you strengthen your position.

This is why ALL matters need to be officially resolved in divorce and agreed. Are you sure this wasn't and your ex isn't chancing his arm?

Crashy_Time

sharp910sh wrote: »

Logically he will only get half the equity after the mortgage if paid off minus selling costs. He may even be liable for the the cost or negative equity if the amount the property is sold for doesn't cover the mortgage and the selling costs.

Therefore do no be afraid of what he says, he can say what he wants, there is no magic money tree for him if there is no equity in the property.

Exactly...

PasturesNew

Many people believe that house prices only ever go up. I bet he thinks he's got at least £10k to come to him.

In my area many sales are going through at 2017 prices, some houses are for sale at the same price/lower than paid in 2017.

You can't - and shouldn't - give him what he thinks he should get as the market isn't there to get a higher price.

He needs to get up to speed with the reality of house prices, expectations, the market at the moment... and wind his neck in.

GDB2222

He needs to get up to speed with the reality of house prices, expectations, the market at the moment... and wind his neck in.

He does. And he doesn't. The OP is the one who wants to sell. She can't sell without his agreement, as joint owner. He is undoubtedly being unreasonable, but sometimes it's just cheaper to pay unreasonable people off, unfortunately.

PasturesNew

GDB2222 wrote: »

He does. And he doesn't. The OP is the one who wants to sell. She can't sell without his agreement, as joint owner. He is undoubtedly being unreasonable, but sometimes it's just cheaper to pay unreasonable people off, unfortunately.

Maybe she should just bake him a cake, invite him round and when she opens the door shove the cake in his face, scream "now f**ing eat it" and slam the door in his face.

Cakes work for everything don't they

[Deleted User]

If the house has been up for sale since January and hasn't sold yet, then its not going to sell without a price drop. You are going to lose money on this.

I think an offer of letting him walk away with nothing to pay would be generous but clearly he doesn't understand the up's and downs of property and has it in his head that a big cheque is coming his way.

silvercar

Maybe he feels aggrieved because you got to stay in the home and he ended up living at his parent(s). Maybe he feels aggrieved because you have a new partner or because you have a baby on the way. Who knows? But emotions can definitely enter what should be a straight forward financial conversation.

I agree with GDB, you are the one that wants to sell, so you may need to throw some money at the problem to make it go away.