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Posted: **Sun Jul 08, 2007 3:08 pm**

I have had a letter from The OR asking me to buy my Husbands beneficial interest in our jointly owned property. He is asking for £8,500. Taking into account estate agency fees solicitors fees etc. How much do you think he is likey to negotiate down to ?
I offered £3,000 which was refused and have gone back with an increased offer of £4,000. This really is the maximum I can raise through family members etc. Any advice would be very welcome thankyou

Posted: **Sun Jul 08, 2007 3:10 pm**

Hi pam.m and welcome to the forum

If £4,500 is the maximum you can raise, then this has to be your upper limit. I feel it is a bit low - if you got nearer £6,000 he would have to give this serious consideration.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Tue Jul 10, 2007 4:57 pm**

Thankyou for that Melanie.
Is it correct that a share of the solicitors fees and estate agency would come from my share of the beneifical interest ?. Also if we had to rent a property, it would be more expensive than we are paying at the moment on mortgage/rent payment. Therefore we would not be able to pay the Monthly order of £68 for the next 3 years. Do you think they are likely to take that into account ??.
Just praying they will settle at £4,500.
Many thanks Pam

Posted: **Tue Jul 10, 2007 6:13 pm**

But you won't be paying solicitors and agents fees if you are not selling the property, so it is unlikely that you will be given an allowance for any - but it is worth a try. If possession proceedings are to ensue, then costs would be awarded against your share, leaving your husband's full share intact and available for creditors. The OR may take your increased rent into account in reassessing the Income Payments Order.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Tue Jul 10, 2007 10:57 pm**

Even though we are seperated but living in the same house ?
I do feel it unfair that I am having to bear the costs of the sale etc.

Posted: **Tue Jul 10, 2007 11:43 pm**

Sorry Pam - I don't make the rules, just carry them out. Make sure that you tell the OR that £4,500 is your absolute limit, and see if you can broker a deal - and do let us know the outcome!

Good luck!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Thu Jul 12, 2007 1:59 pm**

Hi Melanie,
As you predicted the £4,000 was turned down.
If I did go with a higher offer, do you have any idea
how long I would have to come up with the cash ??
Many thanks again
Pam

Posted: **Thu Jul 12, 2007 4:09 pm**

The OR is likely to want the money fairly quickly. How long do you think it would take you to find £6,000?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Thu Jul 12, 2007 4:22 pm**

Probably about 2 months, do you think I could stall by offering extra in small amounts ??
Thanks so much for this
Pam x

Posted: **Thu Jul 12, 2007 4:38 pm**

I would have thought that this would be more than acceptable. Give it a go.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Thu Jul 12, 2007 4:46 pm**

Thanks, will keep you posted.
How sure are you that he will settle at £6,000 ?
When I spoke on the phone last week he said minimum 80% which is actually £6,800.
THanks
x

Posted: **Thu Jul 12, 2007 5:26 pm**

I agree with Mel that an offer of £6000 in this instance would definately have to give the OR food for thought even if some of this money was paid in installments.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Posted: **Thu Jul 12, 2007 11:18 pm**

Thankyou also Thomas Charles.
Can you suggest the best way to go about this please ?
Many thanks Pam x

Posted: **Thu Jul 12, 2007 11:44 pm**

Just put the offer on the table Pam and see if it is acceptable.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Fri Jul 13, 2007 6:56 pm**

how long would they give me to repay the amount,if part was by instalments, that was in agreement with both sides?
thanks pam