Where to start when buying out an ex's charge? Help please

[wendb69]

HI,

A few years ago I divorced and my ex husband was given a CHARGE of 17% on the property that I was living in and subsequently I pay all the mortgage. I was told that I could buy him out at some point for the 'current market value' of the property. If I wanted to do this, where would I start to get the current market value. He may argue an estate agent has under cut the price or I might get an estate agent that overprices it. I just dont know where to start. I feel I am now in a position for the buy out but dont even know where to start. Hes not someone you can negotiate with... he will want his full 17% and I want to do it legally, obviously with solicitors, but need to know legally how much I am going to have to pay and WHO can give me the correct market value. Hope that makes sense . Plz help.

[sherrardk]

Could you get three estate agents to give you the value and then pay an average amount from the three valuations?

[wendb69]

Hi thanks for the reply, but is this the legal way of doing it? Just wondering if anyone been in the same situation?

[Buenchico]

The Land Registry keeps records of the prices which houses sell for. So you can search for recent sales of similar houses (e.g. in the same street) to get an indication of the market value of your property:
http://www.houseprices.co.uk/

It's likely that a court would accept such evidence as being the most reliable indicator of the value of your home.

Chris

[bednobs]

the problem being of course is that your ex may think that as the market is at the bottom, he would rather hang on and wait till it rises and get more