We were married in 2004, bought our home in 2005, and separated Jan 1, 2012.
My ex left the home on Jan 1, 2012 and I've always remained. I was awarded sole custody of the kids from Jan to July, and in August we switched to joint 50/50 custody with week each.
I've always paid all the bills on the home, including after she left I've been paying 100% of the mortgage, bills, upkeep, etc.
2 years ago, the insurance company spent $75k on Phase 1 of the home modifications to make it wheelchair accessible for me. Now they are about to start Phase 2 with $265k about to be spent but they want to confirm that I will remain in the home before they begin.
My ex is now requesting that the home be sold, but I want/need to remain here. How can I buy her out of the home and get it in my name only?
I'm guessing the home could be sold for around $300k, but we would have to pay all the realtor fees and closing costs. There is $240k left of the mortgage. After all the fees/costs, how do I figure out her share in the house and how much would I have to pay her?
I've called around to get the home appraised, but they're asking $500 for that report. A realtor would do a quick report for $40.
What do I have to do to prove the home's true value? Does it go by today's date, or Jan 1st when she moved out? Because she left and hasn't paid anything towards it, does that affect her share in the home?
Thanks!
My ex left the home on Jan 1, 2012 and I've always remained. I was awarded sole custody of the kids from Jan to July, and in August we switched to joint 50/50 custody with week each.
I've always paid all the bills on the home, including after she left I've been paying 100% of the mortgage, bills, upkeep, etc.
2 years ago, the insurance company spent $75k on Phase 1 of the home modifications to make it wheelchair accessible for me. Now they are about to start Phase 2 with $265k about to be spent but they want to confirm that I will remain in the home before they begin.
My ex is now requesting that the home be sold, but I want/need to remain here. How can I buy her out of the home and get it in my name only?
I'm guessing the home could be sold for around $300k, but we would have to pay all the realtor fees and closing costs. There is $240k left of the mortgage. After all the fees/costs, how do I figure out her share in the house and how much would I have to pay her?
I've called around to get the home appraised, but they're asking $500 for that report. A realtor would do a quick report for $40.
What do I have to do to prove the home's true value? Does it go by today's date, or Jan 1st when she moved out? Because she left and hasn't paid anything towards it, does that affect her share in the home?
Thanks!
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