Selling house owned with friend

[kelliedee]

I have owned a house with my friend for the last few years. We put the house on the market a few months ago but have not had any offers since. I told her last week that I want to drop the price and she has told me she doesn't want to and she'd prefer to take the house off the market altogether as she doesn't want to sell in the current market. We'd only make a very small profit which is why she's not happy to sell. I don't mind what I'd make profit wise as I just don't want to own the house anymore. She says that she will look in to buying me out in a few months time but for a number of reasons I don't think she will be able to do this. Just wondering what my options are here? Our contract does say that if either of us want to sell we must allow a 6 month period to the other person to exercise their option to buy the other out. If she can't do this what would be my options? I can't force her to accept offers for the house can I!!

Thanks

 

[And76]

Its awkward between friends I know having done the same and finally sold our house. The market doesnt look like it will pick up for a number of years so in that case I would think sell now to get the best price for it. If you explain this to her she might understand more but if she actually wants to hold onto the house herself tell her that you have to agree now whether she will buy you out in 6mths or you just sell it. Unfortunately you both signed up to this so she cant just let you hang on either.

 

[dublingirl1]

difficult situation I would imagine. If ye both decided a couple of months ago to put it on the market then she must not have been thinking about buying it out at all. How did her mind change? Is it because she thinks she will get it for a better price now that you want out and the market is slow?