# Settlement questions regarding house - Help?



## angelpixie (Mar 2, 2012)

OK, STBXH is finally motivated to move on the D and our house. Why? Because he's in LOOOOOOVE








So, he's got an appointment with the bank tomorrow (SHOCK!) to see if he can refinance and buy me out of my half of the mortgage. I know that the IRS won't hit people who sell a house due to a divorce, but will they hit me if he buys me out? Will they consider that money as proceeds of a sale? I plan on turning right around and using it as a down payment for a place of my own. 

If anyone else here has done this, what did you use as the value of the house? We got it refi'd at the beginning of 2011, so we got it appraised then. I frankly don't know if it would appraise higher or not right now, as prices are still down where we are. But then it's a gamble, what if an appraisal would come out higher?

If anyone has any experience with this, I'd appreciate hearing it! I'm going to try to get pre-approved myself so I can get an idea of how much ready cash I need. 

Ain't love grand? It will get me out of my marriage faster! :scratchhead:


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## I want the kids! (Apr 17, 2012)

Hi,
I don't have first hand experience but maybe I can spark something to think about.

A realtor will give you an idea of value and since you will be looking you may have or will have a realtor soon. As for the buy out price be sure you ask your lawyer. Your lawyer may even have tax info for you too.

Good luck,


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## angelpixie (Mar 2, 2012)

I got an appointment for us to see the divorce financial planner on Thursday morning. He is a retired divorce lawyer who got into this aspect of things later on. I think that's a really valuable resource. I really hope he can help me out. Otherwise, I may really get royally screwed. Wish me luck!


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## nice777guy (Nov 23, 2009)

I would really doubt the value has changed much.

Not real sure - but I've never read or heard of anyone being taxed when they received their share of the assets - including equity in the home.

You may run into some trouble getting pre-approval while you are in the middle of this mess. Bankers don't like uncertainty.

Good luck!


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