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  • Matrimonial House

    Ex wants to buy the house (but as mentoned in previous posts) but has devalued the property and has tried to lowball.
    Good news - It didn't work , and while it's not the value of what it should be at market value, there have been multiple offers (including the ex who still wants to buy it out but is now realizing that his tactics didn't work) and it is higher than asking price at this point.

    If I sign one of the offer to purchase and agree to sell to the buyer, and then my ex decides he wants to buy it at the same price. Am I locked in that? and does that mean that the "bidding war" with multiple offers which has started ends? And that someone else cannot put another offer in if he decides to pay more than the current price because I've "signed" ?


    I'm not sure if I explained it properly, but qquestion is would be in my best interest to not sign any offers right now and leave property on the market ?


    Tks.

  • #2
    Okay........sorry for the post. I managed to call my real estate laywer who handled the original sale and he's given me the advice.
    Thanks .

    Comment


    • #3
      could you elaborate on your realitors advice?

      Comment


      • #4
        Sorry I should have posted the lawyer's advice. Here it is
        RE Laywer advised me not to sign any Offers at this time and also not to agree to the sale of the house to ex until an agreement is made up as to how the money is to be paid out from the proceeds of the sale of the house i.e. the correct administration and payment of all debt.

        The RE Laywer is concerned that unless the money is going to be paid out, and agreement has to be in place, there will be repercussions. We will not close the deal with ex until and unless the proceeds of the sale is finalized and is legal and binding document.


        Hope that helps. As for the multiple bids - recommended that I do not sign any of those at this time.

        Comment


        • #5
          just hope it doesnt backfire. Those multiple bid people are looking for houses and will just move on and make offers on other places and buy.

          Maybe you should take the house off the market until the other stuff like the real estate lawyer mentioned is settled.

          Its gonna be a case that other relators will tell their clients to stay away from making offers on your place due to you not accepting offers.

          Comment


          • #6
            Hi there,.,.yes totally understood what you said and that is my fear also that the buyers will walk away, however the real estate agent has told me that the 2 bidders have told him that they are willing to give it a couple of weeks understanding and have even upped their price by 10 K and 15K. Wish me luck.

            PS. My ex is hopping mad and has gotten upset with the real estate agent when she advised him of it.

            Comment


            • #7
              Originally posted by E-Gal View Post
              Hi there,.,.yes totally understood what you said and that is my fear also that the buyers will walk away, however the real estate agent has told me that the 2 bidders have told him that they are willing to give it a couple of weeks understanding and have even upped their price by 10 K and 15K. Wish me luck.

              PS. My ex is hopping mad and has gotten upset with the real estate agent when she advised him of it.
              Doesnt matter what the real estate agent says the two bidders are willing to do, they are probably getting advised by theirs to walk away due to the uncertainty of everything and the anomosity between you and you ex. Plenty of houses out there for sale and until you get a legally signed offer you could be screwed in the long run.

              I do wish you luck in getting this done.

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              • #8
                The latest update. My lawyer requested an urgent 14B motion to dispense with his signature because we had a "live" offer from a 3rd party and since he had been so un-cooperative (and that's putting it mildly) and that was only when my ex decided to purchase the house from me. He said he would not do anything about purchasing the house unless I took him to court. And there we were.

                He has 30 days to come up with the money to buy me out. The highest offer from the multiple bids was $20K above list price which brought it up to about where I expected and wanted it to be. (inspite of my ex trying some underhanded tactics) Frankly it is worth more, but weighing that against any additional lawyers fees, time wasted and the obvious $$ extra that I would have to spend - it was in my best interest to agree to sell him the house rather than to a 3rd party). Think with the head not the heart.

                Given the history of my ex's behaviour, I told my lawyer that I was worried if he didn't get the financing he needed to buy my share out, so there was a clause put in the agreement that in the event he could not come up with the money to buy the house, that we would put the house back up for sale, and in the event the house sold less than what was the purchase price he agreed to, then he had to pay the difference for what the house sold for to what he agreed to - that way I would not lose out.

                I am hoping that the financing goes through, so then I can at least turn the page on this particular part of the settlement.
                Unfortunately, he was still angry after I agreed to sell him the house, and would not agree to the division of house hold goods (of which I only asked for less than 10 items from the house which were of sentimental value to me only) and he has told me to get off "his property" since he's told me he's going to buy it.

                I know, it sounds small, but one of it were the 14 rose bushes that I planted for my mother every year since her passing, and that was what I would like to have. I pointed out to him that title had not been changed and that I still had rights to go on the property and get these. Anyone care to comment as to whether I still can.
                (Okay, I've heard "let it go......and buy new plants....but I suppose I am a sentimental and they mean a lot to me). Yes and this is a case of thinking with my heart and not my head.
                But I'll be darned if he will always tell me what I can and cannot do.
                I believe I have the right to these, and I have advised him that I will be going there to take them. Do I have to do anything else besides advise him?

                On another note - thank you to all for the advise re: the mat home. It is much appreciated.

                Comment


                • #9
                  Totally understand about the rose bushes. My mother recently passed away and prior to that I had to dispose of home along with many sentimental bushes, etc.

                  Anything attached to the house, rosebushes included, are part of the house. Offers made include these unfortunately. Your ex is being an asshole because he knows these are meaningful to you. They really show their true colors when it comes to things like these don't they?

                  Hate to say it but you are probably "beating a dead horse" and will have to let them go. Is it possible to buy them from him in a separate deal?

                  I bet they are beautiful roses. Sorry about that.

                  Comment

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