Hi folks, I stayed in family home (mine pre 4 yr marriage, deposit put up by me, mortgage by me etc etc)
she wants half the equity.
I arranged valuations in feb2011 a year after she left me, as requested by her solicitor. All three said £160,000
This year , 18 months on, two houses in my tiny hamlet sold for 160k & 150k both nicer and larger than mine. I arranged new valuation only a month ago, she said ask £130,000 expect offers of 124.999 (no stamp duty)
My wife said she didn''t accept ''my'' valuation (it was entirely genuine and unprompted) and paid a guy (who made one of the 160k valuations last feb 2011) to come round tonight with her. Now she says he said ''tidy it up a bit and it''ll sell for 170-190k !!! w t f !!!!???
help !!!!!! from -ve equity to +ve bigstyle in one hour of my life , that''s quite a rollercoaster yump after I''ve been on it for years already !!
It may ne necessary to get a surveyor to conduct a formal valuation, this will have a cost though and you could try and agree to split it. You could propose 3 surveyors and let her choose which one to use.
You need to balance up if the cost of doing so is worth it, prob between £250 -£500.
It''s quite a difference , 60,000 quid, so I think I will take your advice and suggest a formal valuation paid for by us both. I''m really freaked out just how far the estate agent acting for her was prepared to lie for £120 valuation fee. Same guy who said ''ask £160'' 18months ago to me in writing ! ***** ! It''s not like house prices have been rocketing since then ! jeeeez
In fairness house prices certainly haven''t dropped by £40000 either from £160000 down to £120000 in the last year.
Now you know that''s not true don''t you
You''re undervaluing so you don''t have to give her any money to buy her out.Because as your post says my house prior to marriage,my deposit I made all the motgage payments.I''ve done all the work on it in the last 4 years.
you resent paying her anything.I can''t say I blame you but under valuing or over valuing is the oldest trick in the book.
You reckon £130 she reckons £190 Oh look you are back to the true value of £160 as quoted by 3 estate agents 18 months ago.
all the best
Thanks Pete, fair enough, of course you are right. I do think values have fallen in the last 18 months, I do think I''d struggle to attract offers as high as £160 though, given two larger & nicer houses sold recently for 150 & 160