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House been on market for 2 years

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  • House been on market for 2 years

    Hello all.

    I have started this new post in the hope someone could give me some new ideas on how my partner can get at money tided up in a house.

    Ok the situstion is my partner divorced from her husband approx 2 years ago and it was a clean berak divorce, the marrigal home is put up for sale and the proceeds split 50/50.

    Now the house in question has been on the market for over 2 years now it is qwite a substancial house and would suit a large family or for a develpoer, now since the house has gone up for sale there has been intrest however the x husband still lives in the house and we believe he has put people of however we can never prove this.

    Now our finacial situation is qwite dier at the moment our join debts totall more than £20,000 and have been passed on to a company called pay plan.

    Is there any way that my partner can some how get at this money the total amount she is due if the house sold at its current price after all debts are paid of on the house is approx £40,000 so as you can see we really need this money.

    Is there anything we can do or is it just a case of we have to wait for the house to get sold.

    thanks for reading and we are open to any suggestions.

  • #2
    Re: House been on market for 2 years

    Have you considered renting the unsold property?

    Is it a viable option for you to sell the house you are in now and move into the unsold property?

    If your current estate agent isnt doing much to market the property, explain this to them and how you feel.

    Are relations with the ex on good terms?
    Any opinions I give are my own. Any advice I give is without liability. If you are unsure, please seek qualified legal advice.

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    Comment


    • #3
      Re: House been on market for 2 years

      My sister was in a similar positon and was told there was atype of legal order that could be obtained to force the sale - unless there were children in the house but then you would have to prove the ex is deliberately avoiding selling the house and in the present market that would be difficult.

      I am also assuming the ex can not raise the funds to buy your partner out?
      "What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

      "Always reach for the moon, if you miss you'll end up among the stars"


      Comment


      • #4
        Re: House been on market for 2 years

        What are the arrangements between the couple for selling?
        Can your partner appoint an estate agent?
        Has she still got keys?
        Is there still an outstanding mortgage on this property? If so who is paying it?

        Comment


        • #5
          Re: House been on market for 2 years

          The relations between the x husband and not good atall, he still lives in the property with two of the children, their is still a mortgage on the property and he pays it on his own, my partner does not have a set of keys,currently there are 2 estate agents selling the property, the x husband proberly can buy my partner out he is on £45k a year and would only need to get a morgae for around £135k is there any way we can force him to buy my partner out, and any other suggestions would be greatfull, thanks

          Comment


          • #6
            Re: House been on market for 2 years

            How old are the childen still livign with him?
            What were the financial arrangements at the time of divorce?

            Comment


            • #7
              Re: House been on market for 2 years

              their are 2 girls living with him 12 and 8, and when you say financial arragements could you be more pecific do you mean in regards to who pays the morgage or maintence payments or some thing else.

              P S thanks for listening

              Comment


              • #8
                Re: House been on market for 2 years

                At the time of the divorce what financial arrangements went through the court regarding the house children and maintenenace?

                Comment


                • #9
                  Re: House been on market for 2 years

                  when the divorce went through it was a clean break devorce no arragments were made through the court as to maintence payments although the csa are now involved and i think that was it basically regarding the finances and when the marrigal home was sold the profits would be split 50-50.

                  Comment


                  • #10
                    Re: House been on market for 2 years

                    I am not sure on this and to be honest i would advise you to contact a solicitor ( usually the first appointment to have a chat is free) but if there is a child of 12 in the marital home I always thought the person living there as entitled to stay untill the child had finished full time education. then when the house is sold the partner who had move out would be entitled to 50% of the value then?

                    However as values are decreasing at the moment if I was the ex I would be tempted to settle the matter now and do a "buy out " as the value of the house could be lower now.

                    This is not a simple matter. You have to consider how to get a fair valuation etc.

                    But this would give the children stability and woud help your situation.

                    How about an appointment with a solicitor or maybe trying a letter to the effect of :

                    in the present climate it would be beneficial to all parties involved including stability for the children if you (the ex) would consider purchasing my share in the property rather than waiting for a sale.

                    It would enable me to create a home where the children can visit and would mean you and the childen could stay in the home for as long as you want.

                    This option would also finalise all finacial transactions between us which would be more settled for all involved.

                    I would be willing to consider valuations by three independant Estate agents when considering the current value of the house. I a also aware you have been paying the mortgage for 2 years and this would have to be taken into account in the final figures.

                    I feel this would be a good solution for all of us .

                    Would you consider this option. If not perhaps you would explain why?




                    Etc etc.

                    Sorry i am making a few assumptions here - but just an idea of how to appraoch this?
                    "What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

                    "Always reach for the moon, if you miss you'll end up among the stars"


                    Comment


                    • #11
                      Re: House been on market for 2 years

                      Originally posted by scoobydoo View Post
                      However as values are decreasing at the moment if I was the ex I would be tempted to settle the matter now and do a "buy out " as the value of the house could be lower now.
                      I think this is a good point, as will benefit both parties, ie the tenant gets the house cheaper and the ex tennant gets their share sooner.

                      eg. if the house was worth £150K, in todays climate you may be lucky to get £125K.
                      Which means the tenant could but the half share for £67K (less 2yr mortgage)
                      Rather than in, possibly, 7 years time having to leave the family home, which may now be worth over £200K.

                      Obviously we cant comment on the peoples financial situations, so what may be clear to solve may have hiden complications.

                      But as Scooby says, if may be wise to speak to a solicitor who offers a free first session, maybe try more than one as differring solicitors have differing specialities.

                      Comment


                      • #12
                        Re: House been on market for 2 years

                        Yes you usually need a solicitor qualified in family law.

                        It is really a matter of wording this so it sonds like the whole thing is to the ex partners advantage.

                        ~If there is good equty in the property and he is a good credit risk he should be able to get a mortgage.
                        "What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

                        "Always reach for the moon, if you miss you'll end up among the stars"


                        Comment


                        • #13
                          Re: House been on market for 2 years

                          If i was the ex husband i dont't think i'd be too chuffed, or in a hurry to move either.

                          Imagine your missus bailing out leaving you with a couple of kids, and then demanding you sell the roof over your head because she is in financial difficulty pmsl

                          I know if it was me i would do everything in my power to make sure your partner didnt get a penny!

                          Now our finacial situation is qwite dier at the moment our join debts totall more than £20,000 and have been passed on to a company called pay plan.
                          Who is more keen to kick the kids out of their home, you or your partner??

                          Just my honest opinion :okay:

                          Comment


                          • #14
                            Re: House been on market for 2 years

                            Originally posted by stevokenevo View Post
                            I know if it was me i would do everything in my power to make sure your partner didnt get a penny!
                            But the point is eventually the house will get sold and the profits divided.
                            He can either try and buy her share now at a reduced rate due to the climate, and she get a reduced rate for her share,
                            or,
                            He can stay in the house as long as possible and then lose the house anyway and get a share of the proceeds.
                            She has already left the house, so being in it doesnt concern her now, just her share.

                            If anything she would be better have a stake in the property and letting its value go up over the next 7 odd years then recouping it then, rather than getting her share out now.

                            I see where you are coming from Stevo, but you need to look to the future, not just how you get one over on your ex for the moment.
                            While she wil get herself sorted over the next few years etc, get a house etc, he will suddenly have to leave everything and the boot will be on the other foot.

                            look at the war, not the battle, or whatever the saying is

                            Comment


                            • #15
                              Re: House been on market for 2 years

                              Originally posted by PKea View Post
                              I see where you are coming from Stevo, but you need to look to the future, not just how you get one over on your ex for the moment.

                              look at the war, not the battle, or whatever the saying is
                              LoL - It's not the father, or the abandoned children on here looking for help is it?

                              Comment

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