Buying out a former partner from their share of a residential property

Ennersdale3

My former partner has walked out and I am looking to take on the mortgage myself and buy out their 50% share. I have obtained a number of valuations - all of which are lower than the one that my former partner got (albeit my former partner was not at the property when the valuation was done but my partner was cc'd in to it.) My former partner was at the property for just one of the valuations and has refused to share this with their solicitor (no doubt as lower). 

I have made an offer to purchase my former partner's 50% share based on the average of the valuations received which I feel is fair and reasonable. My former partner is only prepared to negotiate on the higher figure despite the fact admitting that we overpaid for the property.

I want to hold out for the average of the valuations especially as 2 other properties in the road are for sale. Both are detached properties (ours is a semi-detached) and in equally good condition.

I am receiving communications stating that my former partners position is solely that his value must be adopted for negotiations. 

I am prepared to increase my offer (based on the average value) and do not want to sell the property. 

Two questions:
1. If I make an offer that is not accepted and am forced to sell can I claim damages, costs and legal expenses from my former partner if the net proceeds are less than I offered?
2. If I continue to make offers that are not accepted can I be forced to sell (e.g. if my former partner applies to the Court for an order for sale)?

Appreciate any guidance that is available.

tacpot12

I know the answer to Q2. Yes, you can be forced to sell, but the court will take into account your evidence and if you have acted in good faith and made reasonable offers, and been reasonable at all times, you would not be punished for not agreeing to a low offer from your ex. when you have had higher prices earlier in the process.

You might want to investigate whether a professional mediator can help you come to a price.

In the past, I have come to agreements where the difference between the parties valuations has just been split equally, so that neither party is particularly happy, but at least they can both move on. Using a mediator might not result in much of a different settlement to this approach!

Bookworm225

1) No
2) Yes of course a court can force you, which is kinda the point of going to court!

I assume you are not legally married and therefore there will not be a formal (court) divorce/financial settlement

saajan_12

No certainty either way in a forced sale. They could take your offers into account, they could not. 

While that is the ultimate backstop, that really shouldn't be somethign you rely on as it could be expensive for everyone involved. 

What is ex's plan if you both can't agree on a price? Are they willing to put it on the market through a normal estate agent? If so, perhaps let that happen and if there's no offers coming through better than yours, then you would effictively offer to buy at your price. 

mlz1413

We all want what we feel our property is worth, sad thing is that isn't how it works!

If your ex won't agree to an average price from you then putting it on the open market is unlikely to increase the value, but it will increase the costs as there will be estate agents to pay.

See if you can get a 3rd party to listen to both of you and then see if you can move forward.

Someone else suggested a professional mediator, definitely worth getting a price for that.

The court process will be slow but will be final.

Are you both equally paying the bills whilst you get to a decision?