trying to buy house from ex.

[momataloss]

What is the name of your state? NY

House is assessed at $80,000,(80% assessment), paid $125,000 9 years ago for it. Going through messy divorce. Court order to sell. STBX overpiced it to $385,000. Nine realtors did a tour and stated it should be listed at $285,000. Offered ex $130,000. How can I get this process going, as he has been dragging this out for almost a year. Was court ordered to be put on the market, one showing, listed to high, won't go down on price, EVEN THOUGH I AM ON THE DEED. I decide to buy it, but how can I put on the form that goes to the county $130,000, if he accepts the offer, even though I have my share in the house, so my taxes don't double. How can I get him going on the sale to me? Approved for a mortgage,(refiance) already. He doesn't have a house yet, hasn't looked at a single one, but the house has been on the market for a year!
HELP! I am not waiting another year for him to accept the offer and get the hell out of the house!
How do I make sure he doesn't trash it before I move in?

[lcannister]

At the refi he can quit claim his share to you and sign off on any ownership.

Not sure why you should pay taxes on an assessment that is 9 years old instead of the current value but that is betwixt you and the taxing agency.

To make sure he does not trash it, move in. That might make him move a bit faster on accepting your offer.

If he thinks the appraisal is too low let him pay for yet another independent appraisal.

[momataloss]

I thought that when the price goes through, 80% is taxed. Our town 80% assessment. We bought it for $125,000, put $80,000 in it. Will sell it for $260,000, but my 1/2 will be already in the house.
Can't move in. Very messy divorce. How long does a closing usually take? Is there a way I can speed it up?
Had 9 realators in for an agent meeting and all agreed to lower it $100,000 ($285,000-$260,000) and what is not to say, he pays the appriaser to lower it so he can buy it, or, keep it high, so he can stay in the house longer.

[nextwife]

Originally Posted by momataloss

I thought that when the price goes through, 80% is taxed. Our town 80% assessment. We bought it for $125,000, put $80,000 in it. Will sell it for $260,000, but my 1/2 will be already in the house.
Can't move in. Very messy divorce. How long does a closing usually take? Is there a way I can speed it up?
Had 9 realators in for an agent meeting and all agreed to lower it $100,000 ($285,000-$260,000) and what is not to say, he pays the appriaser to lower it so he can buy it, or, keep it high, so he can stay in the house longer.

Not sure about NY, but it's not unusual for a deed, transfer, and all needed title work for a transfer between spouses to be completed in a week, or 10 business days.. Of course, If there is a mortgage, you also need to refinance the resent loan to get the STBX off the loan, and that also requires some time.

You would only be buying a partial interest, so your paperwork should reflect the half you are buying, not the numbers you based his half upon. In other words, you will be buying Mr Ex interest for X dollars.

[momataloss]

So, how do I go about keeping the price $130,000 on the contract, not including my 1/2 of $130,000 already in the house so the taxes do not double?
Is there a way I could push the stbx to hurry on this? No contract signed yet, but is there a limit as to how long he has to leave the premises. What is the normal time frame?
Can I get into the house the day before we close to inspect and can we hold money, just in case the furance, all of sudden breaks, or he has done something wrong in the house?

[nextwife]

Originally Posted by momataloss

So, how do I go about keeping the price $130,000 on the contract, not including my 1/2 of $130,000 already in the house so the taxes do not double?
Is there a way I could push the stbx to hurry on this? No contract signed yet, but is there a limit as to how long he has to leave the premises. What is the normal time frame?
Can I get into the house the day before we close to inspect and can we hold money, just in case the furance, all of sudden breaks, or he has done something wrong in the house?

I AM confused, because The only documents I ever see go to the county are the deeds, mortgages, options, state transfer tax form, releases etc. I NEVER see anybody "record" their offer to purchase. They simply close and have their documents reflect what they are PAYING for the INTEREST they are acquiring.

If you are ACQUIRING a half interest, then the consideration the other party gets is based on the half interest they are selling you.

So, let's say I am half owner of a $300,000 property, and I buy out the other owner for an agreed amount of $75,000 that he is to get at closing. My offer and paperwork reflect that he is selling me his interest for $75,000. You can certainly add a walk through or any other appropriate provision into your contract with him.

[momataloss]

Thanks!
I was told by our tax receiver that whatever the house is sold for, which techinally, is $280,000 divided by 1/2 (I pay him 140 and my 140 is in the house) is what is assessed at, which at that time, the taxes are re-evaluated.
I hope what you said is true.
A walk through would be great to do.
Could I really push the sale of the house with him. He doesn't have a place to live, and I don't want to have a contingency sale based on him finding residency. Is there something that I could do to push it along.
Thank you so very much!

[nextwife]

Originally Posted by momataloss

Thanks!
I was told by our tax receiver that whatever the house is sold for, which techinally, is $280,000 divided by 1/2 (I pay him 140 and my 140 is in the house) is what is assessed at, which at that time, the taxes are re-evaluated.
I hope what you said is true.
A walk through would be great to do.
Could I really push the sale of the house with him. He doesn't have a place to live, and I don't want to have a contingency sale based on him finding residency. Is there something that I could do to push it along.
Thank you so very much!

You are not selling YOUR interest, so the only interest that matters is HIS and what you are paying for HIS interest. How you and he came up with a figure is irrelevant, just as the manner that any buyer sitting down before they write their offer needn't report HOW they decided to pay their seller what they paid.

Presumably he'd get a place to live the same way anyone selling their home does.

You are paying X for a partial interest. You are not paying for your interest, that's already owned.

[momataloss]

I understand! Thank you so very much and have a great day!

[momataloss]

Ok, Put an offer in 2 WEEKS AGO. STBX is hesitant to sell, remember that (mortgage paymenet 465.00 on a house worth 286,000). We, my boyfriend and I got approved for a mortgage at a great rate. We now need a buy out agreement. I talked to my attorney today who then talked to his attorney yesterday who stated that he is going to have his client try and accept our offer (which is 1/2 of the fair market value of 286,000). If we don't get this buy out agreement within a few days, we loss our rate!!!! We were to have an answer from him last Friday. How can I push for him to either accept or reject so I can let the mortgage agency know.
Another thing: Very bitter divorce. Haven't been in the house since November. What if he were to trash the place (which he did tell me stories of friends of his, whom are also correctional officers, trashing the soon to be ex wifes house before she moves in). How can I get in there (I have a restraining order from a false arrest!!! NO LIE - stated I pushed him**************...games) when I can't get into the house. I am absolutely afraid he is going to trash the place, damage things, etc. What can I do to prevent him from doing it? Money in an escrow? He is a very angry man. He has playing games the whole time with the sale of the house. The realtor broke her contract a few days ago because he had it overpriced 100,000.
How long could a closing take and what measures could I take to speed this up?
Thank you so very much!!!!!

[momataloss]

Also, just found out that the taxes, school and county are unpaid. I was just informed that it is the sellers responsiblity...is that correct? Also, we offered him 130,000, which I hope he accepts, can they then take the taxes off of that amount then? He will not pay them in advance, that is for sure!

[fairisfair]

Originally Posted by momataloss

Thanks!
I was told by our tax receiver that whatever the house is sold for, which techinally, is $280,000 divided by 1/2 (I pay him 140 and my 140 is in the house) is what is assessed at, which at that time, the taxes are re-evaluated.
I hope what you said is true.
A walk through would be great to do.
Could I really push the sale of the house with him. He doesn't have a place to live, and I don't want to have a contingency sale based on him finding residency. Is there something that I could do to push it along.Thank you so very much!

wow. Isn't this the ex who also HAS CUSTODY OF YOUR MINOR SON. wow, that is all, just WOW.

[momataloss]

Why yes it is. They have an appointment to look at a house**************...1st time looking since the court order to put the house up IN JUNE and he overpriced the house 100,000 so it wouldn't sell. My words exactly WOW! Now if someone off the street were to buy, he would be in the same predicument where they would want him out and if he was in the best interest of the kids, he should of had a house READY for them**************..REGARDLESS.
NOW BACK TO MY TWO OTHER QUESTIONS ABOUT REAL ESTATE!

[Shay-Pari'e]

[quote=fairisfair;1615492]wow. Isn't this the ex who also HAS CUSTODY OF YOUR MINOR SON. wow, that is all, just WOW.

I'm with you, everyone needs to look at her posting history.

[seniorjudge]

Poster, you are buying this with your boyfriend?

You will be on this forum in a few months wondering how to get his name of the deed.