#11
You would be matching the offer minus your half.



So if you receive an offer for £325k, you would pay him £162,500 for his half. That means you would need a mortgage for £232,500 (if I have done my maths correctly) - your half of the mortgage, plus his share of the property.

#12
So earlier on were you saying he was cheeky cos he'd be expecting £100k to be bought out, or I was cheeky as in I would be lowballing by offering £100k? How has this now become £162,500?



Disclaimer: That's probably a 'thick' question but I'm genuinely not getting it.

#13
They are based on 2 different figures. One is based on the equity and the other on the value.



If he wants £100k from the equity is being cheeky, if you want to pay it £100k from the value, you are being cheeky.

#15
If you sell for £325k, you'd get about £90k each.



If you sell his half for £325k divided by 2, that's £162.5k, he'll get £90k of that and the rest will pay his share of the mortgage (as in the other £72.5k)



You have £162.5k more assets and £162.5k more debt, so you're in the same net position, with the exception of higher (around double) mortgage payments and the whole (again, double) equity gained being yours. You take on double the risk for double the reward.



Sorry if that makes no sense (I'm tired), but hope it does.

#16
What kind of decorating adds £25k to th value of a property? Nicely decorated homes tend to sell quicker than not so nicely decorated homes but they don't really sell for more. Even ripping out an avocado bath suite and replacing it with a white one wouldn't increase the price by £25k.

#18
But since you asked…



Finish off a kitchen that was 70% refurbished

Finish off upstairs bathroom that was 80% refurbished

Plaster & paint dining room

Tiled flooring through kitchen and dining room

Complete refit of downstairs bathroom

New carpets to hallway, stairs, landing, spare room, and my room

Re-wallpaper my room

Paint a few ceilings

Fill in the disused pond and tidy up our grass front and back

Rip down rickety wooden gazebo type thing and replace with a new, stable one





I’m not convinced it’ll add value. As a photographer however, I fully accept the photos will benefit from all this stuff being done.

#19
Maybe get another two estate agents round and take an average. How does the EA valuation compare with recent sold prices for similar properties in the area?



If you're getting a mortgage on your own then it's likely the lender will want a valuation carried out so you could use that as your basis. It's just that EA have a tendency to over egg the valuation in order to try and win business.

#20



But since you askedÂ…



Finish off a kitchen that was 70% refurbished

Finish off upstairs bathroom that was 80% refurbished

Plaster & paint dining room

Tiled flooring through kitchen and dining room

Complete refit of downstairs bathroom

New carpets to hallway, stairs, landing, spare room, and my room

Re-wallpaper my room

Paint a few ceilings

Fill in the disused pond and tidy up our grass front and back

Rip down rickety wooden gazebo type thing and replace with a new, stable one





IÂ’m not convinced itÂ’ll add value. As a photographer however, I fully accept the photos will benefit from all this stuff being done.
Originally posted by DaFlump


I would say that is rather more than "redecoration"!

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