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

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  #11  
Old 03-04-2016, 02:15 PM
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Originally Posted by Tayken View Post
I truly don't see what the issue is if you want to buy the home.
She gets spousal support until she sells the home. The home must sell for more than it is worth or she gets to veto its sale.

She doesn't want to sell the home

Her ex is stuck paying spousal until the value of the home rises above the minimum value set in the separation agreement. Given the current housing situation, that could potentially take a while. Ka-ching!
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  #12  
Old 03-04-2016, 03:46 PM
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If he really wanted to sell and stop paying SS, he would have sold her the home ages ago instead of cutting off his nose to spite his face.
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  #13  
Old 03-04-2016, 10:04 PM
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If he really wanted to sell and stop paying SS, he would have sold her the home ages ago instead of cutting off his nose to spite his face.
LMAO! Blink have you met my Ex? You are 100% correct about his intentions. During the almost 3 years of negotiations he hired and fired 3 lawyers - the 4th actually quit on him and one mediator walked out of the office having had enough of his screaming and indecision.

I can't recall how many times that we had a proper settlement all ready to be signed and stamped - then at the last minute the Ex starts wanting to re-discuss the whole thing having changed his mind for the "umpteenth" time!

Anyways, I contacted my R/E agent and she claims that Ex would be wasting his time in court since we have a binding contract with her with a set price for another 6 months. So my problem is solved at least for now.

Thank you all for your input.
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  #14  
Old 03-04-2016, 10:10 PM
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If you had the home evaluated by a professional inspector and you both agreed on the selling price, I don't see where the problem lies. Markets go up, markets go down - you got neutral professional advice, and it's unfortunate that the market didn't behave in the way he anticipated.

What would happen if you got a mortgage for 30% of the current market value of the house (less than the amount in the separation agreement) and offered it to him as a sort of pay-to-go-away? Maybe with a couple of extra months of SS thrown in? Then he could take his money and leave, and you could sell the house for a price that you're satisfied with, even if that meant waiting a few more months for the market to pick up?

I'm guessing that your ex is in a cash-flow crunch which is precipitating his desire to sell the place quickly (if you're paying all the operating costs, the house isn't actually costing him anything, but he probably sees it as a big piggy bank). He might be willing to be bought out at a discount in order to get a little $$ now, rather than a lot of $$ later.
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  #15  
Old 03-04-2016, 11:48 PM
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Originally Posted by stripes View Post

I'm guessing that your ex is in a cash-flow crunch which is precipitating his desire to sell the place quickly (if you're paying all the operating costs, the house isn't actually costing him anything, but he probably sees it as a big piggy bank). He might be willing to be bought out at a discount in order to get a little $$ now, rather than a lot of $$ later.
You guessed right. He pays off credit cards with other credit cards and I'm certain that he owes quite a bit to his lawyers. As a couple, I was the frugal one who kept us out of debt.

Before the house went on the market I had offered to buy out his share - he would have done well to accept back then. As things are now he won't get as much since I've put a lot into the place, so his % has whittled away.

As suggested above, I'll wait and see what he does and when he's ready to act logically, I'll make him another offer. If he truly wants to put an end to the SS he'll have to do his math and cut his losses same as me.

Some of you may disagree, but nobody gets rich by divorcing!
(Ka-ching my A$$)
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  #16  
Old 03-07-2016, 10:56 AM
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Still not sure why you wouldn't simply make an offer to purchase the home at the agreed upon price and just be done with it. You can end the SS payments and own the house. I can't imagine the house value has gone down by any significant sum from the original agreement.

FYI: In my humble opinion the real estate agent is wrong. The other party can bring the matter back to court. The agent is not a party to the matter.
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  #17  
Old 03-07-2016, 11:21 AM
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Originally Posted by Tayken View Post
Still not sure why you wouldn't simply make an offer to purchase the home at the agreed upon price and just be done with it. You can end the SS payments and own the house. I can't imagine the house value has gone down by any significant sum from the original agreement.

FYI: In my humble opinion the real estate agent is wrong. The other party can bring the matter back to court. The agent is not a party to the matter.
I have made him an offer to buy him out last year and at a better price than now (also we could have avoided real estate commission by doing so). I honestly feel that he's keeping me guessing out of spite.

The real estate agent is not a party to the matter, though we have signed a contract with her - I don't see how that could be changed without compensating her for the difference in her percentage?

BTW, I'm still upset with you Tayken, you have ruined one of my favorite songs: I want my MTV, I can't listen to it now without thinking of your version: I want my legal aid!!! Ruined for ever ......
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  #18  
Old 03-09-2016, 11:25 AM
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Originally Posted by Janibel View Post
I have made him an offer to buy him out last year and at a better price than now (also we could have avoided real estate commission by doing so). I honestly feel that he's keeping me guessing out of spite.
Doesn't the agreement include a clause that no reasonable offer shall be refused? Basically, retain a real estate agent and have them make an offer to purchase the home like anyone would do who see's the listing on MLS.

It is a closed deal and there are hundreds (if not thousands) of buying agents who would do this at a cut rate on their commission. Not like they had to do any work so most would pay you back at least 1.5% of their 3% cut. The listing agent will get her 3%... Unless you make a deal on the commission (prior to retaining a buying agent).

Again, if you are serious about buying the home and there is a agreed upon price that you are willing to meet there are hundreds of ways to buy the home. Nothing stopping you from doing it other than yourself.

There are no competing offers it sounds...

I suspect Janus may be correct in your hesitation to purchase the property.

Good Luck!
Tayken
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  #19  
Old 03-09-2016, 12:18 PM
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Quote:
Originally Posted by Janibel View Post
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?
This is a very strange situation. There is something missing.

1. Aren't you a SAHM older mother?
2. Was the unequal division of the home instead of alimony?

Why he wouldn't just pay the difference between what the house can sell for and what is being offered?

How he could have managed to have made such a stupid agreement is beyond me... never make SS dependent on any incident occurring (for you other men out there) because the woman will do whatever it takes to ensure that incident never comes to pass.... This is just another example.

Depending on the context of the agreement it can or cannot be reopened. I have seen cases where judges have not let husbands off in agreements similar to this and let them rot.... (the importance of drafting good agreements).

If you wanted to be fair - I would offer him to let him compensate you by way of spousal support for the shortfall of the house between the bottom price and what it sells for.

Otherwise, on a purely legal basis - I would let him take you to court - I give him a 20% chance.
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  #20  
Old 03-09-2016, 03:04 PM
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So you both have a bottom line, you offered to buy the home at the bottom line or more and he refused? Is that what I am understanding? Or did you make him a different offer that was below his bottom line? Making the offer last year is old news. If the house has been sitting with little or no offers, then the price should be reconsidered.

Was the house appraised by a certified real estate appraiser or just a home inspector? To my knowledge, home inspectors are not a reliable source for a true sale value. Sure they may be able to tell you what the house is worth, but they most likely cannot tell you what houses are selling for in the area. If your house is worth $300k but they are only selling for $200k and your bottom line is $250k, then I can see your ex being successful, especially if he can show what houses are selling for.

I understand you may not want to lose your SS, since you are living in a mortgage free house, however if the house isn't selling and you are holding on just because of SS, you are being unreasonable. Only you can be the true judge of that.
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