Ok heres the story as some of you probably already aware that I recently split with Boyfriend, I want to sell the house, he wants to keep it on

 

Ok house was bought for 41,000, his Dad gave us 10k, 7k of which was put down as a deposit on house which left us with a mortgage for 34k

 

The other 3k that his dad leant us went on stuff for the house, settee etc

 

So few weeks ago I got house valued between 70k and 75k

 

What is a reasonable offer from him for me to walk out of the house?

 

Bearing in mind I shouldnt have to pay his Dad back if he takes the house on

 

Anyone got any suggestions I will then tell you what he offered me

 

I think that explains it all

Half the equity you daft cow

 

Whether or not you wish to pay his father back is entirely upto you, personally I would but then again I don't know your history

 

Go and have a free 60 min session with any solicitor for proper advice

??9500 is the lowest i would settle for

Half the equity you daft cow

 

Whether or not you wish to pay his father back is entirely upto you, personally I would but then again I don't know your history

 

Go and have a free 60 min session with any solicitor for proper advice

 

Yes I know half the equity I was asking your lots opnion because hes offered me 10k

 

I want 15k

 

Dont see why I should pay his Dad back if ex stays in house and keeps all the stuff his money bought

 

If I leave I will literally be leaving with my clothes and thats about all

??9500 is the lowest i would settle for

 

Explain please how you get to 9500?

70k - 41k = 29k

 

29k -10k = 19k

 

19k/2 = 9.5k

Right you want ??20K (half the equity)

 

You give his dad ??3.5K

 

Therefore insist on ??15K minimum, sounds fair to me

 

If he's not happy with it, burn the f??cker down and collect the insurance (I would suggest you don't do this with your ex inside)

 

The Knights of the Templar could persuade him for a small fee if you like?

70k - 41k = 29k

 

29k -10k = 19k

 

19k/2 = 9.5k

 

At a guess I'd say you failed at maths

As has been said, half the equity once the mortage (34k) and father (10)k have been paid (total 44K). Call the valuation 72500-44=28500/2 = 14250. Call it 15 grand.

As has been said, half the equity once the mortage (34k) and father (10)k have been paid (total 44K). Call the valuation 72500-44=28500/2 = 14250. Call it 15 grand.

 

Nearly right

 

??3K worth of furniture is being retained by ex therefore repayment to father is ??7K/2 making it ??15,750 or ??15K for cash

I considered that, but I think that you should write that off, it's now used/second hand gear so worth less. 3k is now 1.5k, half that is ??750 + ??14250 = 15k O:)

Tell him you've decided to stay put and offer him ??9k. When he argues the bit about his dad's cash say you'll pay him off from the equity following your sale of the house at full market value.

If he doesn't then accept ??9k then ask him why you should!

Right and thats the figure I was getting at too 15k

 

Hes offered me 10k which I refused his solictor seems to think its a fair offer because hes told them "he thinks" its worth 65k not 75k as valuer estimated

 

I told him its not what "he thinks" that matters

 

So we saying 15k

??15K or a visit from the templars

I told him its not what "he thinks" that matters

 

its worth what somebody will pay, not what ANYBODY thinks its worth

 

top 60s is probably a more reasonable estimate of its worth

If it was worth 65, I'd still be wanting 11k+ by my reckoning.

 

If he thinks it's worth 65k, does anyone want to come in on my new investment?

if you had it valued by an estate agent rather than a surveyor,they will have valued it on the high side probably between 5 to 10 grand to much.if you think you may get a bad deal just sell it pay his dad back and split the profits,then go halfs on the furniture.

if i was him it would be worth 100k just to have you out and the house to my self

 

 

i would also bear in mind zoe that as you are the one walking away- he will be left with a decent house at an ok mortgage rate by todays standards. for you to go and buy a house now you will be looking at less house for the money you bught one for a few years ago. even paying you ??15 grand- he is still gaining as he has a ??75 grand house ( but doesnt owe that on it-even after paying you out), whereas you my love will have a ??75 grand house- and owe that-and the house will be smaller/in a worse area etc for the sameprice-due to increased housing costs.

plus- he gets the comfort zone- stays put- whereas you have to pick up the peices and start again.

stick to your guns.

Right and thats the figure I was getting at too 15k

 

Hes offered me 10k which I refused his solictor seems to think its a fair offer because hes told them "he thinks" its worth 65k not 75k as valuer estimated

 

I told him its not what "he thinks" that matters

 

So we saying 15k

 

so he aint disputing the % you are entitled to, just the valuation.

 

agree with him another company to do a valuation, as mentioned try and go for an estate agent as they go higher then use an average of the two values and go from there.

 

if you contact your mortgage lender they will have an idea of the cost, as well as tracking the house rebuild cost most now also track house values using the halifax or nationwide price index, so they will know how much houses in the area have gone up by since you bought it.

 

i do think you should pay his dad back the money, he could argue that his 'share' of the house should also have gone up, so actually worth more than ??7k. But if you repay him half from your share it seems fair as you would nt have had the house otherwise.

After you've got your money and just before you leave, try hiding prawns or some other kind of smelly fish etc., in the hems of the curtains and other furnishings, it'll take him ages to find out where the nasty smell is coming from and may end up costing him a tidy some in replacing the said furnishings.

 

But that didn't come from me :-#

just wondering.. how long is left on the morgage ?

just wondering.. how long is left on the morgage ?

 

17?? years was a 20yr mortgage

 

Thanks everyone else for your contributions

 

just wondering.. how long is left on the morgage ?

 

17?? years was a 20yr mortgage

 

Thanks everyone else for your contributions

 

 

did you know if it is a repayment mortage and do the following

 

add all the numbers between 1 and 30 together

 

then add all the numbers between 1 and 240 together

 

then divide first number by second and multiply the answer by 100 it will say what % of mortage has been repaid.

 

 

this is the rule of 78ths.

 

(or ring up lender and they will tell you)

just wondering.. how long is left on the morgage ?

 

17?? years was a 20yr mortgage

 

Thanks everyone else for your contributions

 

 

did you know if it is a repayment mortage and do the following

 

add all the numbers between 1 and 30 together

 

then add all the numbers between 1 and 240 together

 

then divide first number by second and multiply the answer by 100 it will say what % of mortage has been repaid.

 

 

this is the rule of 78ths.

 

(or ring up lender and they will tell you)

 

Think you've got this 1 wrong Ian.

 

Have another go & remember to take away the 1st number ya thought ov.

 

 

toodle pip