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First of all I wasn't sure where to post this but we don't have a section to ask legal questions about thing so I thought I would try here, seeing that this falls under real estate.
So I got divorced a while back & my ex-wife owed me said amount of money once the house sold.
Well I got a message from her saying that she sold the house & she had to pay closing & such plus some repairs & that there was nothing to split. The contract also read she had two years to pay up OR put the house up for sale & give me want was owed. So now that the house is sold that because she had to pay closing cost & the repairs. The contract doesn't say that she doesn't get to pay me because she didn't make enough on the house. At this point I'm guessing I should get a lawyer correct?
Absolutely. Preferably the attorney you had when the divorce agreement was written.
That's the downside we drew it up ourselves & agreed to what was written. So we went to divorce court & let a judge handle it. But it still stands as far as I can gather she still owes me said amount.
So I got divorced a while back & my ex-wife owed me said amount of money once the house sold.
The contract also read she had two years to pay up OR put the house up for sale & give me want was owed.
Said amount = what?
It typically would have been a fixed dollar amount.
An amount based on an appraisal at that time less any known joint debt like the mortgage.
An equal or fixed percentage of the joint EQUITY at that time.
If the amount was subject to additional deductions (RE agent fees, closing, repairs, etc)...
then these should be listed rather specifically.
Quote:
At this point I'm guessing I should get a lawyer correct?
If the house is worth $100k and it cost her $10k in closing costs to sell it and she netted $0, why does she owe you anything? If you owned the house and sold it, would you want to be out the $10k in closing costs? She probably feels the closing costs are part of the "value" of the house and if it all nets $0, there is no money to give you.
It probably depends on how the language in your 'agreement' is interpreted, versus the intent. In any case, the closing costs should at the very least be split between the two of you. What about Realtor fees (another 5-6% that should be split between the two of you. "Repairs" is so fuzzy that, unless this was clearly tied to the sale and pre-arranged, should probably not be your responsibility.
You didn't say how much $$money was involved and if it is really worth going after. However, it appears that after you paid ALL of the costs and fees out of your half -- she got whatever was left and there was 'nothing less to split.' Even if that is the case, she should, at the very least, pay for half of the closing costs repairs and Realtor fees ... by refunding that amount to you. (On a $250K? house, that is probably about $20K).
Well I got a message from her saying that she sold the house & she had to pay closing & such plus some repairs & that there was nothing to split. The contract also read she had two years to pay up OR put the house up for sale & give me want was owed. So now that the house is sold that because she had to pay closing cost & the repairs. The contract doesn't say that she doesn't get to pay me because she didn't make enough on the house. At this point I'm guessing I should get a lawyer correct?
The way this is computed, is Sales Price, less all selling costs, less any costs for repair etc. that are discovered by inspectors etc., less any costs to prepare the property for sale, which leaves the net proceeds from the sale.
Then the net proceeds are split between the two owners (you and your ex wife). If there is little equity in the property, not only is there often no money to split after the sale, but in some situations both sellers have to come up with some money to be able to close the sale of the property.
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The contract doesn't say that she doesn't get to pay me because she didn't make enough on the house.
You are right in that you are to get half of all the proceeds of the sale. But that is after the costs to sell the home are paid. What you want is for your ex to pay you out of her pocket. No attorney is going to try to get you money except half the money from the sale, after selling costs (including realtors fees and closing costs) and any money required to get the house sold such as repairs, etc.). If there are no net profits, there is nothing to split. You can demand that you be given a copy of the net paid to her at the closing after these things have been deducted, and any receipts for any repairs needed to sell the property, to prove there was nothing to split with you.
Remember, if there are no profits after all legitimate costs have been paid, there is nothing to split and getting an attorney involved will be more money out of your pocket.
The house has sold. it sold for 105,000. I had to pay closing costs, realtor fees, and repairs on the hvac as well as some plumbing. I ended up bringing $2000 into it in order to sell the house. I am sorry but there is nothing to split.
Ok, Our agreement was that she had two years to give me so much money because I had put down the down payment on the house when we bought it. She had TWO years to give me the money she owes me from the sell of the house. Which she did list it but she didn't do much else but list it the house & let it sit on the market. Furthermore she didn't list it until a year after the divorce was final. so she really had only had it on the market for a year. So she was in no hurry to do so. We bought the house for $118,000 & I put $20,000 down on the house myself. The contract said that when the sell of the house was over she was supposed to give me $7,000. no, that's not a huge amount of money I've already lost $20,000 with what I put down on the house. I am trying to get so emotional about this but I feel she did whatever she could to get out of paying me any money.
reed,
She didn't get any money out of the house.
Period.
Ask for a copy of the settlement papers listing expenses
if you don't believe her.
She can't give you what she didnt get BACK from the house.
You had a cheap divorce, didn't you?
Well, that is what you get with a cheap divorce, it's all in the divorce
papers.
You lost the down payment.
Get over it.
No judge is going to enter a judgement against her, you were MARRIED.
You both bought the house, that's the way it is.
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