Hi everyone,
This is the situation.
Over 12 months ago, my wife (separated then) gave her permission to put the family home on the market, with the option of buying me out if she wanted. I listed the property for private sale and spent $500 on advertising. A week later, I receive a letter from her lawyer saying she no longer wanted to sell, but wanted to see if she can buy me out. 8 months later, she works out that she can't afford to, and again agrees to put the house on the market, after sacking her lawyer.
We list with a real estate agent who brings in a developer. He makes an offer greater than the professional valuation secured by my ex . I want to sign, but my ex is uncooperative and drags out the whole process. The real estate agent says he wants nothing more to do with her. The conveyancer says she wants us to find someone else. The developer walks.
A few weeks ago, the same developer comes back on the scene. He's still interested. The real estate agent that previously showed him through provides a waiver for any commission as he wants nothing more to do with my ex. The developer makes an offer in writing. It's the price my ex previously said she wanted. It's the best offer we've had in over a year, and above the professional valuation.
The developer and I sign and send a copy to my ex's lawyer. It's now been five days and she still hasn't signed. I spoke to her lawyer today and he said she wants to have a binding financial agreement in place before she sells. I say that I understand that it's not uncommon to sell and keep the funds in trust until such time that an agreement has been reached. No response.
The plot thickens. Another developer has made an offer $20,000.00 higher than the previous developer. I don't want to loose either of these developers as we may not get another offer close.
My questions are:
1) Is she within her rights to refuse reasonable offers for the property?
2) Can she insist on having a bindiing financial agreement in place before the property is sold?
3) If she refuses to sell the property for the reasonable offers that have been made and when she is prepared to sell, we get far less, can this be taken into account in my favour when we divide the assets?
Update: I've just received a letter from my ex's lawyer with the sales contract that she wants, including a sale price $45,000.00 above the professional valuation price.
This is the situation.
Over 12 months ago, my wife (separated then) gave her permission to put the family home on the market, with the option of buying me out if she wanted. I listed the property for private sale and spent $500 on advertising. A week later, I receive a letter from her lawyer saying she no longer wanted to sell, but wanted to see if she can buy me out. 8 months later, she works out that she can't afford to, and again agrees to put the house on the market, after sacking her lawyer.
We list with a real estate agent who brings in a developer. He makes an offer greater than the professional valuation secured by my ex . I want to sign, but my ex is uncooperative and drags out the whole process. The real estate agent says he wants nothing more to do with her. The conveyancer says she wants us to find someone else. The developer walks.
A few weeks ago, the same developer comes back on the scene. He's still interested. The real estate agent that previously showed him through provides a waiver for any commission as he wants nothing more to do with my ex. The developer makes an offer in writing. It's the price my ex previously said she wanted. It's the best offer we've had in over a year, and above the professional valuation.
The developer and I sign and send a copy to my ex's lawyer. It's now been five days and she still hasn't signed. I spoke to her lawyer today and he said she wants to have a binding financial agreement in place before she sells. I say that I understand that it's not uncommon to sell and keep the funds in trust until such time that an agreement has been reached. No response.
The plot thickens. Another developer has made an offer $20,000.00 higher than the previous developer. I don't want to loose either of these developers as we may not get another offer close.
My questions are:
1) Is she within her rights to refuse reasonable offers for the property?
2) Can she insist on having a bindiing financial agreement in place before the property is sold?
3) If she refuses to sell the property for the reasonable offers that have been made and when she is prepared to sell, we get far less, can this be taken into account in my favour when we divide the assets?
Update: I've just received a letter from my ex's lawyer with the sales contract that she wants, including a sale price $45,000.00 above the professional valuation price.