Do I have to reduce the price of the house.I believe the 1st and 2nd mortgages equal 235,000 so the equity is not that great.The business is 18yrs.old Thank You
You will need to list the home at or near market value. Keeping the house at an inflated value can be seen as your attempt to avoid selling the property. You can list it at a higher price recognizing that buyer will negotiate down. This amount must be "reasonable". Given current market condition $515,000 from $545.00 does not sound unreasonable. You might try a little smaller reduction e.g. $530,000.
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Yes, you should price the home at market value for any calculations. This doesn't mean you can't be at the high end of market value if that is advantageous to you.
Maybe my question isn't phrased correctly would I be forced to reduce the price of the home before he is forthright in turning discovery over to determine an approximate income stream and business value.He stated I could have the home and contents but I guess his attorney talked him out of any communication with me.
No discovery is independent of any valuations. He must turn over whatever was requested irrespective of the home price. He can provide his own valuations in what he turns over.
Attorney
OH/TX Practicing Attorney focusing on Family Law, Foreclosure, Landlord-Tenant Issues.