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BS: am I wrong
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Subject: BS: am I wrong From: GUEST,Mikey joe Date: 25 Aug 03 - 12:23 PM I have a question. Recently I split from my girlfriend of seven years. we had purchased an apartmnet together in 1999. she bought me out. She commisioned a valuation which said the apartment had appreciated 10K in the three years and a half years we had it. now I find it is on the market for 14K more than that. She is saying that it increased 10K in 3 and a half years. and another 14K again since may when I signed over my rights. Am I being swindled here folks? what should I do? should I lie down and let her get away with it or contest this?? This is a lot of money to me, but I honestly don't care about the momeny. I am very very hurt, I thought the split was amicable and never thought she would fleece me like this. all genuine advice is very much appreciated! thaks Mj |
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Subject: RE: BS: am I wrong From: wysiwyg Date: 25 Aug 03 - 12:33 PM If she bought you out, you're out, I would think. That's what signing your rights was about....???? ~S~ |
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Subject: RE: BS: am I wrong From: mg Date: 25 Aug 03 - 12:35 PM talk to a real estate lawyer. If the original appraisal was based on accurate market forces at the time, you h aven't been fleeced. Markets can rise rapidly and there is normal fluctuation, seasonality etc. Take the appraisal to a lawyer and see if he/she thinks it was an honest one or it was cooked. If it was cooked, not only she is in trouble, but whoever did the appraisal. My guess is that it was a good appraisal because not many people would want their professional reputations on the line for something like this. if you are a realtor in Washington State and you do something crooked, not only will they take away your license, they will publish what you did. So again I suspect it was an evlautaion that was good at the time. If this was very recent a decent woman would share the profit with you but legally she doesn't have to. mg |
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Subject: RE: BS: am I wrong From: Uncle_DaveO Date: 25 Aug 03 - 12:53 PM Mike Joe, you said: "She commisioned a valuation which said the apartment had appreciated 10K in the three years and a half years we had it. now I find it is on the market for 14K more than that." Two points: 1. The valuation or appraisal back at that time is only an estimate of the value of the real estate. Even at that time, another well-qualified appraiser might have valued it higher, or lower. 2. And you said, "now I find it is on the market for 14K more than that. That asking price may or may not have an appraisal behind it, and if it does, that again is only an estimate. Many, many's the property which sells for way below the asking price. As I'm sure you are aware, everyone assumes that an asking price is inflated, and that the eventual purchase price is going to be lower--often drastically lower. Dave Oesterreich |
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Subject: RE: BS: am I wrong From: Bee-dubya-ell Date: 25 Aug 03 - 12:56 PM Appraised value is one thing. Asking price is another. She won't get the extra 14 K. Most (if not all) of it will be dickered away before the final selling price is agreed upon. |
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Subject: RE: BS: am I wrong From: JohnInKansas Date: 25 Aug 03 - 01:05 PM I'd suspect you have other reasons for regreting your earlier settlement that are unresolved, but that's just speculation on my part. From the "evidence" you've given, I don't see much cause for regret on your part. When you say that she "commissioned a valuation" we must assume that the valuation was done by some sort of "credentialed" appraiser, and that the appraiser followed some standard practices. In my area, such a "valuation" generally includes a full description of how the value was determined, almost always including the specific addresses and actual selling prices for nearby "comparable" properties that have been recently sold. Any such valuation, though, is only an estimate. The only way the value of a property can be determined is when somebody buys it at a price agreeable beteen buyer and seller. She offered to buy, and you agreed to sell. Value established. Done deal. That the property is now "on the market" at some other value doesn't mean much. While it differs a little from place to place, the "asking price" at which property is listed is often rather significantly inflated above what a seller expects to get, and does NOT establish that the property is now "worth more." You'll have to wait until the property is SOLD to know what it's "worth" is now. (And even if it does sell for more, it doesn't mean you were cheated. It might just mean that the present seller "got lucky" and found an idiot with money.) I can sympathise with your feelings, and have no way of knowing whether you have "other reasons" for hanging on to them; but you sold at a price agreeable to you at the time of sale. You have no further "interest" in the property, so you should not be dwelling on a deal that's done and over with. (But any good realtor can tell you that more than half of all buyers and sellers do suffer some "buyer/seller remorse" - usually about a month after closing, so you'd seem to be a little slow working through this - when they're convinced they were cheated.) John |
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Subject: RE: BS: am I wrong From: Amos Date: 25 Aug 03 - 01:26 PM My bet is that right or wrong, you will be a LOT better off if you walk away from this one; even if you eventually make a few grans ont he deal, the cost will be very high. And the same effort spent on getting on with better things will be a lot more rewarding. A |
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Subject: RE: BS: am I wrong From: GUEST Date: 25 Aug 03 - 01:30 PM walk away,don't look back |
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Subject: RE: BS: am I wrong From: GUEST Date: 25 Aug 03 - 02:35 PM Good advice. You agreed to what you agreed to, and that is that. From that moment on your are "horse f....d." Now, consider this: When a certain lady and I decided to "jump the broom" she didn't like my house (too small) and I didn't like her house (too dark). So, we agreed to sell both and buy one that suited both of us. I sold mine with 7 years to go on the mortgage, but, she somehow never got around to selling hers. I supported her for much of the time we were together, paid her mortgage and all, and when we divorced I had to start all over again with a 30 year mortgage. After the divorce, she sold hers for a 100,ooo dollar PROFIT. A classic case of she got the goldmine, I got the shaft. My house would have been paid off next year, but I have 25 years to go on the present mortgage. I think I got screwed, do you? I'm not looking for sympathy, if I was, I'd find it in the dictionary between shit and syphillis. I'm well known here, so, I choose to remain nameless. This way, maybe you will be more objective. |
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Subject: RE: BS: am I wrong From: Rapparee Date: 25 Aug 03 - 02:40 PM In an amicable settlement, both parties should have had the property evaluated by their own evaluators. You took her word for it, signed off, and it's done. What should have been done is hindsight, which is always 20/20. Now it's her place, to dispose of for whatever she can get for it. Sorry, but you have no claim. Walk away, sadder but wiser. |
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Subject: RE: BS: am I wrong From: GUEST,JtS Date: 25 Aug 03 - 03:32 PM If you really think you were cheated, do as Mary Said and go to a lawyer. Of course you are going to have to pay the lawyer. If he/she tells you to sue, you are going to have to pay the lawyer even more. Your girlfriend wouldn't be very wise in the ways of business if she offered the apartment at or below fair market. Odds are you were right in the first place and it was an amicable split. If not, there's always the lawyer. |
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Subject: RE: BS: am I wrong From: SINSULL Date: 25 Aug 03 - 08:47 PM Walk Away! Don't look back. If you choose to sue, you will spend two years or more of your life in a nasty confrontation over a home you once loved. The lawyers will take most of it (assuming it really is worth $14000 more) and you will end up with a few thousand. Is it worth two years of your life? |
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Subject: RE: BS: am I wrong From: Bobert Date: 25 Aug 03 - 08:53 PM "Sooner or later, it all comes down to money...." Bruce Springsteen from "Big Muddy" ("Lucky Town" CD) "Get over it...." Bobert, 8/25/03 Bobert |
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Subject: RE: BS: am I wrong From: GUEST Date: 25 Aug 03 - 09:03 PM In order to sell she must:
1. Clean & repair and Replace
You got out well ahead of the real work.
Take your money and run. Don't look back, its alright.
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Subject: RE: BS: am I wrong From: GUEST,Jon Date: 25 Aug 03 - 10:23 PM Even if you are right and did battle, the only winners would be solicitors. Save yourself the stress. |
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Subject: RE: BS: am I wrong From: GUEST,thank you Date: 26 Aug 03 - 04:36 AM Thanks folks I'm going to walk away she can f*** o** wiht herself. It really isn't the money but the fact that this is something I never thought she would do. By all accounts the way the market is here in scotland she will get all her money and maybe more. The money only amonts to a few thousand quid. but its the fact that I wasted my time with someone who would do this. Its not like she needs the money. She earns about three times my salary which ain't much. I'll keep singing Dylans "don't Think Twice Its Alright" thanks again folks. The Cat is a great place to come one and have a rant and get things off your chest Mj |
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Subject: RE: BS: am I wrong From: GUEST,Liam Date: 26 Aug 03 - 12:00 PM Would you be asking this question if the property had decreased by 14K |
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Subject: RE: BS: am I wrong From: Amergin Date: 26 Aug 03 - 01:20 PM Maybe the reason she is selling the place is that it is too painful for her to stay there...for this was something you two bought TOGETHER...and full of memories...Maybe she feels she needs to make a break with the past and start anew... |
