A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
Call for FREE expert advice & service info


What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


court order for property sale and mortgage

  • layla09
  • layla09's Avatar Posted by
  • Junior Member
  • Junior Member
More
20 Jul 12 #344287 by layla09
Topic started by layla09
Hi. My court order on divorce (March 2011) was for the FMH to be sold and proceeds after settling mortgage and estate agent fees etc be split. We have had one offer but I am in disagreement with ex over whether this is an acceptable figure. We have dropped the price once since Nov and have stated OIRO on the recently reduced figure. Ex is threatening to go back to court to force the sale indicating that I am obstructing sale/delaying. I would like to know whether it could be construed as obstructing sale when it is a disagreemet over one offer?
My other question relates to mortgage payments. The court order stated that the mortgage continue to be paid by ex until sale of FMH. My ex has since reduced the payments without informing me. The minimum payment is still being met each month. The redemption figure on the mortgage is now going to be greater than expected with a greater loss to me. Given that we had never altered our payment amount at any point in the previous 10 years the expectation was for this to continue until sale. Is this worth pusuing?

  • maisymoos
  • maisymoos's Avatar
  • Platinum Member
  • Platinum Member
More
20 Jul 12 #344298 by maisymoos
Reply from maisymoos
Hi I am not sure about the mortgage question, but I am in court today over a similar situation relating to house sale I will pm you later and let you know the outcome.

  • cookie2
  • cookie2's Avatar
  • Platinum Member
  • Platinum Member
More
20 Jul 12 #344311 by cookie2
Reply from cookie2
layla09 wrote:

have stated OIRO

Well, is the offer OIRO?

What is the current asking price and what is the offer?

What do the estate agent think, do they think you''re likely to get a better offer in the near future? Do you think you will?

I think this will be the determining factor on whether you''re being reasonable. And if it''s been on the market since March 2011, then what do you think is a reasonable thing to do if you want the house sold? What would you do if you were in your ex''s position?

The redemption figure on the mortgage is now going to be greater than expected

I''m not sure I understand this. I think we need actual figures to help here.

  • layla09
  • layla09's Avatar Posted by
  • Junior Member
  • Junior Member
More
20 Jul 12 #344352 by layla09
Reply from layla09
Many thanks for your reply. I would certainly be interested to hear the outcome and any other info you have.

  • layla09
  • layla09's Avatar Posted by
  • Junior Member
  • Junior Member
More
20 Jul 12 #344359 by layla09
Reply from layla09
Thanks for the reply. Apologies for not detailing figures. The property went on the market in Nov''11. No offers were recieved so the price was reduced in May''12 by 4% to OIRO. An offer was then recived which was a further 5% lower than this. Meaning the reduction is now somewhere between 9-10% below original asking price. The estate agent and we acknowledged original price could be expected to drop because of the need for modernising. However they did not indicate by how much. After I rejected the offer the ex has returned to the estate agent and been told this is an acceptable reduction. He has indicated he will get the estate agent to write a letter to this effect (for the court). I have/had not received communication from estate agent to suggest the price should be reduced further or that the offer was reasonable. My expectation at this point in time would have been a 2-3% drop on the reduced price becuase we stated OIRO. The ex has neglected the house and made no effort to show it in a favourable state.

  • cookie2
  • cookie2's Avatar
  • Platinum Member
  • Platinum Member
More
20 Jul 12 #344362 by cookie2
Reply from cookie2
layla09 wrote:

I have/had not received communication from estate agent to suggest the price should be reduced further or that the offer was reasonable.

Did you ask whether they thought the offer was reasonable before rejecting it?

My expectation at this point in time would have been a 2-3% drop on the reduced price becuase we stated OIRO.

Did the estate agent say this? How do you know what is reasonable if you did not ask the estate agent''s opinion? That is what they are paid for, after all.

Conversely I would not simply believe what your ex says. You should ask the estate agent yourself, what they think. If they say that yes it''s a reasonable offer and you''re unlikely to get a better one in the near future, then you have your answer there. If they say it''s a poor offer and you can get better, then go for it.

  • layla09
  • layla09's Avatar Posted by
  • Junior Member
  • Junior Member
More
20 Jul 12 #344396 by layla09
Reply from layla09
Thank you for your reply. I had not asked the estate agent myself. As an update to this chain I can tell you that the offer has since been improved by the buyers to a price which we both now agree on.

I would still like to know whether there is anything I can pursue regarding the reduction of mortgage payments by ex without my knowledge.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11