Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Reply
 
Thread Tools
  #1  
Old 03-03-2016, 03:59 PM
Janibel's Avatar
Janibel Janibel is offline
Senior Member
 
Join Date: Jun 2013
Location: Way up North
Posts: 1,496
Janibel will become famous soon enough
Default Can a final divorce agreement be modified?

This question is for those who know a thing or two about property settlements:

We obtained our divorce last year. Everything was divided up and our house was put on the market at a fair price after a being evaluated by a professional home inspector. Problem is the house has not sold yet so now the Ex is threatening to go back to court to get the asking price modified.

We both signed a contract stipulating our bottom-line amount. Is there any way that he could get a judge to force the sale below our agreed upon minimum amount?

Furthermore, as per our agreement, once the house is sold my spousal support stops, so I have no intention of letting the house go at a reduced price - I would lose a lot of $ and he would gain the end of alimony.

Doesn't seem fair to me? Does he stand a chance at getting a judge to modify a final agreement - there's been no substantial change of circumstances aside from the fact that the house hasn't sold yet?
Reply With Quote
  #2  
Old 03-03-2016, 04:13 PM
PeacefulMoments PeacefulMoments is offline
Senior Member
 
Join Date: Nov 2015
Posts: 257
PeacefulMoments is on a distinguished road
Default

If the house has not sold at the bottom-line amount and been on the market for several months, it is likely over-priced for the market. Respectfully, I think probably the price does need to be reduced, depending upon how long it has actually been on the market. If the market is not there, it is not there, and neither of you will get the bottom line price, leaving your equity and ability to move forward stalled too.
Reply With Quote
  #3  
Old 03-03-2016, 04:19 PM
standing on the sidelines standing on the sidelines is offline
Senior Member
 
Join Date: Dec 2006
Location: Kitchener Ontario
Posts: 5,492
standing on the sidelines is on a distinguished road
Default

Quote:
Originally Posted by PeacefulMoments View Post
If the house has not sold at the bottom-line amount and been on the market for several months, it is likely over-priced for the market. Respectfully, I think probably the price does need to be reduced, depending upon how long it has actually been on the market. If the market is not there, it is not there, and neither of you will get the bottom line price, leaving your equity and ability to move forward stalled too.
I agree. Was the evaluation based on what people with comparable houses were asking or was it based on what they were selling for?

Time to reduce the price and move on.
Reply With Quote
  #4  
Old 03-03-2016, 04:48 PM
rockscan rockscan is offline
Senior Member
 
Join Date: Mar 2014
Posts: 4,446
rockscan will become famous soon enough
Default

Youre losing money while its sitting there non? Why keep something thats losing money?

Could you change the agreement that ss continues for an additional six months?

You knew ss was going to end on the sale of the house, this seems unfair to try to drag it out...
Reply With Quote
  #5  
Old 03-03-2016, 05:22 PM
stripes stripes is offline
Senior Member
 
Join Date: Feb 2013
Posts: 2,838
stripes is on a distinguished road
Default

Could you negotiate a compromise? You agree to drop the selling price x thousand dollars (what he wants); in exchange, he agrees to continue SS for another x months (what you want)? I'm inclined to think that the longer you hang onto a house that isn't selling, the more problems are going to arise.
Reply With Quote
  #6  
Old 03-03-2016, 05:45 PM
Janibel's Avatar
Janibel Janibel is offline
Senior Member
 
Join Date: Jun 2013
Location: Way up North
Posts: 1,496
Janibel will become famous soon enough
Default

Quote:
Originally Posted by stripes View Post
Could you negotiate a compromise? You agree to drop the selling price x thousand dollars (what he wants); in exchange, he agrees to continue SS for another x months (what you want)? I'm inclined to think that the longer you hang onto a house that isn't selling, the more problems are going to arise.
The thing is, he is aggravated at having to pay SS and is not the negotiating type (his way or the highway).

The house is paid for and I'm living in it, paying for all the maintenance, taxes, insurance and I'm in no hurry for it to sell - if it does great, if not just as happy either way.

His share of equity is an uneven split 30% for him and 70% for moi, so I have offered to buy him out and he refused - he's just being pig-headed about the whole thing.

I really don't want to go back to court and re-negotiate with him ... It took almost 3 years to hammer out an agreement and to go back and start all over again ......... when will it end?
Reply With Quote
  #7  
Old 03-03-2016, 05:56 PM
blinkandimgone's Avatar
blinkandimgone blinkandimgone is offline
Moderator
 
Join Date: Feb 2010
Location: Lucknow
Posts: 5,403
blinkandimgone is a jewel in the roughblinkandimgone is a jewel in the roughblinkandimgone is a jewel in the rough
Default

Make another offer to buy him out, lower than your last offer and let him counter with an offer that you can live with. Eventually he'll figure out that he's only biting himself in the ass by not agreeing. It makes no sense to lower the price when you're offering to buy it out at a fair value.

Or have an agent put in an anonymous offer on your behalf?
Reply With Quote
  #8  
Old 03-03-2016, 08:19 PM
mcdreamy's Avatar
mcdreamy mcdreamy is offline
Moderator
 
Join Date: Jul 2011
Posts: 1,433
mcdreamy is on a distinguished road
Default

You are in Quebec? Not sure you'll receive any solid advice here.

in Ontario in most situations, a material change of circumstances needs to occur - and the definition of that material change would likely be spelled out in your final agreement. He couldn't re-open the financials on the settlement of the mat home, without also opening the financials on ss.

In any event, it is his move to make - let him start a motion and see his actual proposal - it would have to involve some sort of compensation to you for the sale of the mat home for lesser consideration.
Reply With Quote
  #9  
Old 03-03-2016, 09:25 PM
Janibel's Avatar
Janibel Janibel is offline
Senior Member
 
Join Date: Jun 2013
Location: Way up North
Posts: 1,496
Janibel will become famous soon enough
Default

Quote:
Originally Posted by mcdreamy View Post
You are in Quebec? Not sure you'll receive any solid advice here.

in Ontario in most situations, a material change of circumstances needs to occur - and the definition of that material change would likely be spelled out in your final agreement. He couldn't re-open the financials on the settlement of the mat home, without also opening the financials on ss.

In any event, it is his move to make - let him start a motion and see his actual proposal - it would have to involve some sort of compensation to you for the sale of the mat home for lesser consideration.
Yes I'm in Quebec and I feel the same way that you do - how could the financials be re-negotiated on the listing price only? I mean we both agreed on a 'package-deal' if you will.

He wants to have his cake and eat it too. For me to agree to his demands, we would have to go over the entire thing: listing price, SS, pensions etc. Otherwise how could it be equitable?

There's been no change of circumstance (aside from the Ex running out of patience).
Reply With Quote
  #10  
Old 03-04-2016, 01:44 PM
Tayken's Avatar
Tayken Tayken is offline
Senior Member
 
Join Date: May 2011
Posts: 6,997
Tayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant futureTayken has a brilliant future
Default

Make a formal offer to purchase the home for the bottom line price you agreed to through a third party agent. If you own 70% of the equity in the home you can get a mortgage quite easily for the 30% owed to the other party. Go in as a traditional buyer for the property with an agent. Unless your agreement/order prevents you from doing this.

If the house is listed for sale you can buy it. In the alternative you can simply form a third party buying agreement where they transfer the title to you after purchase. There are a lot of easy ways to purchase the home.

Talk to a real estate lawyer though. They will know how to do it. With that much equity in the property you have a lot of options. I truly don't see what the issue is if you want to buy the home. Buy it at market value like anyone else would under normal circumstances.

There are ways to shadow the flip of the home to you.

Good Luck!
Tayken
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Separation Agreement > Divorce Paperwork Question scope111 Divorce & Family Law 1 03-26-2011 12:20 PM
how to deal with ex's offer to settle nick2009 Divorce & Family Law 19 09-20-2010 10:47 PM
Online divorce? ExWife2Many General Chat 10 08-12-2010 08:15 AM
Divorce Final - working on Separation Agreement now Hephzibah Financial Issues 2 05-04-2010 04:29 PM
Confused - Need Help -30 Days Up TODivorce Divorce & Family Law 1 12-22-2006 08:04 AM


All times are GMT -4. The time now is 01:41 AM.