Q A friend and I bought a flat six years ago, but we now want to part ways. There will be a good amount of equity in the house and I am looking at options to buy him out, but I need to know how to get a fair valuation.
I find estate agents often over value, and if we are just selling to me should I pay him the asking price? We could put it on the market to see what offers come in, but this may take some time.
My friend will obviously want to get the best amount out of the house, but I don't want to find myself in a raw deal if I decide to sell in two years, for instance. The higher the house is valued the more I need to borrow to complete the buy-out. CS.
A If you and your friend had drawn up a declaration of trust when you bought your flat, it should have detailed how the property would be valued in the event of one of you wanting to buy the other out. ......
No comments:
Post a Comment