My situation is rather complicated, as when I got divorced it would appear that the Consent Order(financial order) that I have been left with, was not in my best interests and a solicitor has confirmed that they may have been negligent, also it is open to misinterpretation.
The problem I now have is, it has been agreed that the ex matrimonial home has to be sold. It has been on the market since 2009 and no offers have been made. My ex husband and I could not agree on the price but we then agreed on a price level for the sale. I agreed on the basis that I felt the level was still too high and it is unlikely that it would sell. (I sought independent market appraisals confirming as such). As I thought, 3 months following our agreement to the price, no offers have been made and as the market has fallen, I will be left in a position with little or no equity to move, thus my children and I will be potentially be homeless if it does sell.
I had been trying for months to buy my ex out at the ''realistic'' value but he would not accept it. As it would mean a lesser lump sum than what is stipulated on the Consent Order.
So my ex husband has now put an offer with the estate agents to buy the EMH himself, however, my solicitor said that he can not purchase his own home. However, another solicitor says that he can. Where do I stand with all this? I have been informed as I consented to the price, there is nothing I can do about it.
So, let''s say my ex can buy his own home, I can be turfed out on the streets? as renting is not an option as it would amount to more than the mortage repayments I currently make.
Also, if he does succeed with the purchase surely he would need a survey carried out. What if this survey reveals a lower valuation than the offer he has put forward? then would this not be an opportunity in which to buy him out?
I hope someone is out there to help, as I can not afford to spend more money on dud information. I am very worried about my situation and I am afraid that I will become ill with all the stress that I am under.
So you have a sealed Consent Order that says the home must be sold for x amount and your i assume ex husband has offered that amount, one solicitor says he can`t buy it another says he can, is that about right.
The solicitor that says he can`t, what is the reason?.
If the order says the house is to be marketed at a certain price the aim is to get that amount who buys it is irrelevant, the aim is simply to sell, if you agreed to this price you must have known what your share would be?.
If your ex husband wanted to "buy his own house", then he certainly would not do so through the estate agent. He would say to you, or to your solicitor, "I''ll give you £X to buy your share of the house". If you agreed to that figure then you would take the house off the market, and do the deal directly. Going through estate agents would be pretty stupid, you would have to pay the estate agent fees, stamp duty, all sorts of red tape and stuff. It makes no sense whatsoever.
Thanks Cookie2, that is what my solicitor says with the added point that it flys in the face of of the spirit of the order. My ex is rather desperate I believe to get some money, but has refused my offer to buy him out as it is not sufficient in his view. However, my offer is generous, when the true valuation is taken into account.
Although, I think he went via the estate agent as he wants to rack up the costs so my equity will be lessened. As the disbursements are deducted then the remainder will be his share. There is only £30 of equity within the home.
Dukey, the solicitor said it does not comply with the intention of the order. I agreed to the price knowing full well that the property was still overpriced. I live in a duplex apartment and it is marketed at the same price as houses, it is also a very quirky property and would not suit the ''average'' buyer.
Yes, I was taking a bit of a gamble by agreeing but given the market appraisals I believed it was the best way to resolve. Perhaps not in hindsight, but my ex is very controlling and was threatning me with all sorts of action. Also, the legal advice that I have received today has not really been the best. So, I am doing a lot of this based on my instinct, not ideal but I am no expert and those that are do not seem to be coming up with anything.