Thank you for your question
My name is Clare
I shall do my best to help you but I need some further informtaion first.
When was the Decree Absolute?
How old are the children?
How much is the house worth and how much is outstanding on the mortgage?
What other assets are there and what income do you each have?
Does she have a new partner?
Are you aware that the site charges extra for a phone call?
Where will the children live if the property is sold?
How much has she offered you for a buy out?
Ah - so essentially £10,000 - a 25/75 percentage split?
How much are you looking for?
What do you consider a fair split?
What pension provision do you have?
I am going to have to be honest with you - and I know that the news is not going to be what you wish to hear.
What she has done is put a Restriction on the property at the Land Registry
which means that you are not going to be able to force a sale without either
the agreement of your ex or an Order from the Court within the Matrimonial proceedings.
I know that the property is in your sole name; I appreciate that you are paying the mortgage but still the starting point for division is 50/50 - but since the children live with their mother and are still young a 60/40 split in her favour is very likely
The equity in the property on your figures is £40,000 - and 40% is £16,000.
The court would almost certainly allow for possible costs of sale making the equity £35,000 and your share £14,000
Accordingly any offer from her of £83,000 or more is acceptable - and she has offered you £85,000 which is in fact a 60/40 split (my apologies for the earlier error)
If you go to court - even if you get a 50/50 split then allowing for the costs of sale you are likely to receive £17,500 - just £1,500 more than she has currently offered - and in the mean time you will have made between 6 and 12 mortgage payments
Grim news I know
Please ask if you need further details