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painterman

Wife In For A Shock

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6 months ago my wife had an affair and left.(wed 30yrs) i posted at the time that i intended to buy her out. 18 months ago the house was worth approx £200.000. I've just had a letter from her solictor saying she wants to get things sorted asap.

In the letter he says that although the current value is uncertain his client thinks it's worth in the region of £200.000.

I think my wife is in for a bit of a shock! Obviously i'm going to stretch this out for as long as i can as every month counts in my favour. I'll keep you informed on valuations when i eventually get round to getting one.

Barry.

Edited by painterman

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6 months ago my wife had an affair and left.(wed 30yrs) i posted at the time that i intended to buy her out. 18 months ago the house was worth approx £200.000. I've just had a letter from her solictor saying she wants to get things sorted asap.

In the letter he says that although the current value is uncertain his client thinks it's worth in the region of £200.000.

I think my wife is in for a bit of a shock! Obviously i'm going to stretch this out for as long as i can as every month counts in my favour. I'll keep you informed on valuations when i eventually get round to getting one.

Barry.

if she thinks its worth 200k let her buy you out @ 200k, then just rent it from her.

Edited by mfp123

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There are about 17,000 members of this site who hope that her share of the house is as little as possible.

If a little man with bright orange hair called Sibley shows up to do the valuation, I suggest that you ask for another surveyor .......

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6 months ago my wife had an affair and left.(wed 30yrs) i posted at the time that i intended to buy her out. 18 months ago the house was worth approx £200.000. I've just had a letter from her solictor saying she wants to get things sorted asap.

In the letter he says that although the current value is uncertain his client thinks it's worth in the region of £200.000.

I think my wife is in for a bit of a shock! Obviously i'm going to stretch this out for as long as i can as every month counts in my favour. I'll keep you informed on valuations when i eventually get round to getting one.

Barry.

if she thinks its worth 200k let her buy you out @ 200k, then just rent it from her.

THATS just plain nasty...... :lol::lol:

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There are about 17,000 members of this site who hope that her share of the house is as little as possible.

If a little man with bright orange hair called Sibley shows up to do the valuation, I suggest that you ask for another surveyor .......

:lol:

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if she thinks its worth 200k let her buy you out @ 200k, then just rent it from her.

Genuis or even say she can have it for £195,000 and then start a bidding war between yourselves down to the true value.

In the letter he says that although the current value is uncertain his client thinks it's worth in the region of £200,000

So the client, not an independent valuator is saying 200,000 so thats what the lawyers offering as a settlement!

he admits of being uncertain of the valuation in the letter!

Open up some champagne mate, not only have you got rid of a treacherous slut she's got Lionel Hutz working for her.

Edited by slurms mackenzie

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Not sure about this. Would they not seek to use the value of it, as it was the day she moved out? Last week I signed over the deeds (and mortgage) to my ex, without claiming any part of the value. I think I got the best part of that deal.

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May be worth going on a mortgage holiday. If she isn't contributing to the mortgage why should you. A lot of mortgages will let you go on a 12 month mortgage holiday

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Sorry, i should have said, there is no mortgage on the property. We paid it off a few years ago. She wants it valued,sold and split 50/50. or i can buy her out. I suppose i could put it on the market for £200.000 and stay here for a few years.

Barry.

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Sorry, i should have said, there is no mortgage on the property. We paid it off a few years ago. She wants it valued,sold and split 50/50. or i can buy her out. I suppose i could put it on the market for £200.000 and stay here for a few years.

Barry.

How about you get it valued then offer 30-40% of the value to buy her half out ? Explain what is happening to the market and that you are in no rush.

A big wad of cash, even if it is less than she wants, is extremely difficult for someone to turn down.

Good luck. ;)

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if she thinks its worth 200k let her buy you out @ 200k, then just rent it from her.

I know you said it in jest but in fact that is a well established practice where two equal share business partners decide to go their separate ways.

Typically, what happens is that the firm's accountant plus two independent lawyers (one appointed by each party) sit down in a room together to hold an auction and the parties come in and bid against each other to buy the business starting at £1. Each party must prove they have the finances to buy the other out. The bidder that bids the highest price gets the 50% of the business they do not own and pays the other party. The shares are transferred immediately upon payment.

This way, any dispute over the value of the business is resolved via the price setting process. In addition, the either party may agree to allow another bidder to enter the bidding for their share plus the remainder of the business.

It seems to me that painterman might be best advised to use this route to resolving this dispute with his wife and it would avoid any later accusations of him taking advantage of his wife's weaker position in a court of law if the price of houses starts to rise again or he sells it for more later.

A clean break via transparent price setting process rather than a valuation may be wiser in the long run here.

Edited by Wad

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Mate,

I feel for you......I got divorced Nov 07 Ex wife re bought Jun 08 paid top price and then some more to fit windows new kitchen ETC, Stamp duty....all in about 195

She dragged it out for 5 years worth of spousal.....she didn't get any, by the time she came out of court she had £18K less than i had originally offered.... Poor solictors advice to walk out of court with less than i had originally offered 12 months before and no spousal.

She got 92% of the equity.... i got my gratuity(55K) and pension ( Military from age 40) 12K a year.....Index linked from 55

I'm now looking at anything above 90K requires a mortgage

If there are no kids to be homed and no other assets I.E Pensions then 50/50 seems fair to me.

Other than that, bury the bitch....If she thinks it's worth £200K let her buy you out to the tune of £100k.

You need to rehome yourself, i assume she has shacked up with new man so her housing needs have been met.

Edited by jungllie jim

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Insist the house goes for auction "as this is the only means to establish true market value in the current situation". Then employ an agent to bid for the house on your behalf.

Quite a sensible suggestion. No need to employ an agent, you can bid for it yourself if your want quite openly.

You have to pay the auction fees but the lower price should more than offset that.

If you want to be mean, make sure it is in an auction as far away as possible. Park a caravan in the front garden in the meantime.

VMR.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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