CN624 said:I was thinking of just selling it (while still in both names) and giving them the original price agreed. Only problem is if they see it is selling for agreed price + x% it may get a bit 'difficult'.
Am I within my rights to do this?
CN624 said:I've agreed a price to buy out the other 50% of a house of a house I co-own with a friend.
Mary_K said:How would you feel if the tables were turned? I'd suggest you play it fair and work on the premise that you'll be splitting the proceeds 50% unless you're working on the premise of taking an ex-friend to court.
It'd be the friend that would be taking the OP to court and s/he'd have every right. The cheek of some people.
Of course there is nothing stopping you from buying your friend out at the agreed price and then selling the property on at the higher market price.
CCOVICH said:Of course there is nothing stopping you from buying your friend out at the agreed price and then selling the property on at the higher market price.
CN624 said:Thats what I was originally thinking. Just the timeframes between buying & selling reduced by several years.
It's not clear if this is a PPR or an investment property but if it's the latter then don't forget to factor in the tax costs.bearishbull said:Whatever the legalites ,just sell (as you are planning to anyway) and split the proceeds 50:50 ,the slight extra you'd get by taking the increase amy be offset by increased legal fee's etc.
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