Ask Me Help Desk - Sale of house, wife refuses fair offer

My wife and I have just recently went to court for our divorce and only have a house that is in both of our names. It is stated that we both will work to sell the house. We have had the house for 2.5 years and she used a lot of her own money to help buy the house. Obviously, the house has lost value. At least $40,000. So the catch is that my wife has $80,000 of her own money invested in the house. Upon sale, It is stated that I will receive a flat $2,000 and she will receive the remainer of the equity. It is also stated that if the house doesn't sell within 1 year, we will revisit. Until the house is sold, we are each paying 1/2 the mortgage. My question is, what if we get a "reasonable" offer on the house and she refused to accept it because she isn't getting enough of her money back. Will she be in contempt because she wasn't working to sell the house and looking after her own interests? Can I take her to court and have the court order her to refinance(I know that's hard to enforce). Why should I keep paying 1/2 when she refuses a reasonable offer due to her own selfish motives. Anyone have any insight?

Quote:

Originally Posted by thecaptain1977

My wife and I have just recently went to court for our divorce and only have a house that is in both of our names. It is stated that we both will work to sell the house. We have had the house for 2.5 years and she used a lot of her own money to help buy the house. Obviously, the house has lost value. At least $40,000. So the catch is that my wife has $80,000 of her own money invested in the house. Upon sale, It is stated that I will recieve a flat $2,000 and she will receive the remainer of the equity. It is also stated that if the house doesn't sell within 1 year, we will revisit. Until the house is sold, we are each paying 1/2 the mortgage. My question is, what if we get a "reasonable" offer on the house and she refused to accept it because she isn't getting enough of her money back. Will she be in contempt because she wasn't working to sell the house and looking after her own interests? Can I take her to court and have the court order her to refinance(I know thats hard to enforce). Why should I keep paying 1/2 when she refuses a reasonable offer due to her own selfish motives. Anyone have any insight?

Has she refused a reasonable offer?

If she does, then you go back to Court and ask that she be held in contempt. The Court will decide whether the offer is reasonable and may or may not hold her in contempt, depending on their findings.

If someone has had the house appraised - and you probably did for your divorce - a reasonable offer will be in the vicinity of the appraisal.

Did you express this concern to your Attorney?

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Originally Posted by JudyKayTee

Has she refused a reasonable offer?

If she does, then you go back to Court and ask that she be held in contempt. The Court will decide whether or not the offer is reasonable and may or may not hold her in contempt, depending on their findings.

If someone has had the house appraised - and you probably did for your divorce - a reasonable offer will be in the vicinity of the appraisal.

Did you express this concern to your Attorney?

She hasn't refused anything yet. She has just made comments about how much she is willing to take or not take, "We have to get at least $380,000". I just want to prepare myself. I guess my best bet is to have an attorney ready to take action. We are working with a realtor, so the have done comps to see what other houses are selling for in the area, but not an official appraisal.

Quote:

Originally Posted by thecaptain1977

She hasn't refused anything yet. She has just made comments about how much she is willing to take or not take, "We have to get at least $380,000". I just want to prepare myself. I guess my best bet is to have an attorney ready to take action. We are working with a realtor, so the have done comps to see what other houses are selling for in the area, but not an official appraisal.

I don't see the Court accepting anything short of an official appraisal - at least in my area. Court will not accept realtor's comparisons because realtors get a commission and are presumed to be biased.

Quote:

Originally Posted by JudyKayTee

I don't see the Court accepting anything short of an official appraisal - at least in my area. Court will not accept realtor's comparisons because realtors get a commission and are presumed to be biased.

I appreciate the insight... which is what I was looking for from this site. I am contacting an attorney as we speak to get legal advice. Thanks again!