No legal financial arrangement was made at the time of the divorce or since. When I left in 2004, the property was worth approx £150,000. Judging from the price that other similar properties in the road have sold for in the last couple of weeks, if in good order it could achieve £190-200K. We have been offered £135k (interior unseen) by a neighbour, but when the inside is seen it is likely that this offer will be reduced.
I own no other assets, my son is 21 on Monday. I let my wife live their so that my son could finish his schooling and first job. As soon as he got another job he moved in with me. he she has done nothing to upkeep the property since I left.
I earn £22,000 and its not rented
my wife and her ex husband own the property I don't know what the equity is.my ex has not re married
My wife's ex husband has a charge on the property. He will need to be bought out of this charge in the event of a sale. We have 2 adult children living with us with no prospect of them being able to afford to rent their own places in the near future. Should the property be sold we would need to purchase something big enough to house all 4 of us. We also have 2 other adult children who do not live local but come to visit regularly and stay over. The mortgage is interest only so the outstanding mortgage will be required to be paid of from the proceeds of any sale.
I offered her £45,000 on the basis of the amount the property might achieve at sale minus costs, including the skips required to remove the debris she would be likely to leave behind in the property and garden.
I am unable to borrow more as I’m 53 and my salary is £22,000. The property has been devalued due to our lack of maintenance and her lack of housework. I have paid out on maintenance as much as possible but so much needs doing now, i.e. replacement windows, bathroom, kitchen units, guttering, facia and soffit boards and an electrical rewire.
The only reason for selling is the sheer amount of money that needs to be spent that neither of us can afford.
She is refusing to move out but cannot afford upkeep.