Break up and now need to sell the house

S

Sparkle28

Guest
Hi,

I am just wondering if anyone can provide any advice in terms of how to sort out a shared house after a break up? Can anyone advise if best to sell rent or any other suggestions would be welcome.

Many thanks
Sarah
 
Do you have equity ?

Also ask yourself which direction do you personally think house prices are going to go.
 
Thanks J,

Hard to say in relation to equity - would like to think the property is worth more then what is left on the mortgage but judging by the way the markets are going who knows anymore!

I'd like to think I'd make at least what I spent on the house as it's a fantasic house in great location close to everything you know. It will be hard for me to sell on but to be honest given that I bought it with my ex it would be hard to ever think of the property being my own.
 
You need to look at what both of you can afford. If one of you wants to stay on in the house as a tenant then a rent will be agreed and split the difference on any remaining mortgage cover. Simplest solution is to sell, but even if it is priced right it will take a few months and the mortgage will have to be paid during that time. You need to sit down and discuss it together as it will affect both of you financially for some time if you do not come to a real agreement.
 
Thanks Mr Man

It's a hard one alright. We will sit down and sort this out just too early in the process right now.
 
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