House sale

ann321

After a divorce of 6 years of marriage,  my x got awarded 500k. I now have to sell my house which is in my sole name and the x paid zero towards it.
So I immediately put it on the market 100k above the price the estate agents agreed (1.8995) at the time of the divorce a year ago, as I have increased its value internally. 
After 5 months I have no interest in it and he is threatening to go back to court for new orders. Can he do this  and what should I look out for? I have my 90 year old father and 3 grown up children living with me but they didn't count in the divorce proceedings. 
I have lost 4 houses that I put offers into to accommodate my family.
I can't afford to go back to lawyers as I spent 40k of my savings on the divorce. 

Scorpio33

Its a lot of money involved, but a house is only worth what someone will pay for it. If you are having no interest, look at lowering the asking price or changing estate agents. Are you getting any viewings? or are the viewings coming in, but no offers? 

As a marital asset, its irrelevant whose name is on it and who paid towards it, as it goes in the pot of assets along with everything else. Your father and children are over 18, so they are irrelevant, legally they can look after themselves.

My assumption is that your ex wants thier share of the house - which you can only release once its sold. Have you agreed a time frame for selling the house? Due to the value, I would assume the sale would take longer than most anyway, so 5 months on the market may not be unreasonable.

Gavin83

Why did you list the property at £100k above what the EAs suggested? If you listed it at the price they said I'm sure you'd get more interest. You may have increased it's value by renovating but surely the EA's would have factored that into the price they suggested.

GiantTCR

your ex wife had rights to take away 50% of your house so if you actually managed to agree she'd get 500k on a 1.5+ million house, you got a great deal out of it.

I don't know how many people in this economic climate are looking to spend that much on a house so either get ready to wait a long time before you sell it or lower the price (and even then it may still be difficult to sell).

Boat_to_Bolivia

GiantTCR said:

your ex wife had rights to take away 50% of your house so if you actually managed to agree she'd get 500k on a 1.5+ million house, you got a great deal out of it.

I don't know how many people in this economic climate are looking to spend that much on a house so either get ready to wait a long time before you sell it or lower the price (and even then it may still be difficult to sell).

I think you'll find it is the ex husband who got the 500k settlement.

GiantTCR

yeah maybe

london21

The market is a bit uncertain at present.

House at that price might take a bit of time but maybe communicate with the agent on the best way forward or check with local agents to check the price listed is competitive.

You might need to reduce price to what the market is prepared to pay. 

diystarter7

Hi OP

EA are often after a quick sale and we know why

As another stated prices are weka now, well where we are they are and coming off recent highs.

I've noted that often huses on a road where almost no two properties look identical, there is often scope to get a lot more than at times what EA's believe. At times, improving the house in a most sellable way will get you a lot more back what you spent on it if it was one of the cheaper houses on the road but now going up in the world.

There is always an element of luck involved as well and as time goes on, prices could weaken and no one knows for sure where prices will be in a few month's time.

Good luck

Keep_pedalling

You have had no offers because you over priced it, you ex may very well see this as deliberately delaying things which is why he is threatening to go back to court.

GiantTCR

Keep_pedalling said:

You have had no offers because you over priced it, you ex may very well see this as deliberately delaying things which is why he is threatening to go back to court.

He probably should as he has rights to 50% of the marital home and other assets and he's getting way less than that. 

Maybe he just now realised he's been short changed.

JReacher1

Hope it works out for your OP but you don't often get threads on here about people being unable to sell their £1.9m house.  I think you would be better off seeking paid legal advice than asking people on a money saving site.  The sums involved seem too high to try and resolve this on the cheap.