# Buying out his portion of house during divorce



## Bdowell116 (Jul 11, 2021)

Question. WE (both of us) owe 140k on our house. It appraised at 400k. So that’s 260k profit we would split if sold. I was told we split the 260. So 130k. So if I wanted to buy his part out I’d give him half and I’d now owe $270k on new mortgage same house. 140 still owe + 130 had to give him. Which I understand but this is question…..if we BOTH owe 140 to pay house off, then why isn’t that split as well if that makes sense or am I not seeing this right??? It’s like he’s getting an extra 70k???


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## DownByTheRiver (Jul 2, 2020)

That's a question for your attorney. And if you don't have your own attorney and are only using one together it's time you got your own attorney. 

Let's say you both decide to split the cost of paying off the house before divorce. So you both put up 70k. Now the house is worth 400k free and clear. Now if you want to buy out the house you will have to pay 200k. 

Honestly it sounds to me like your best bet would be to sell the house and downsize.


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## Lila (May 30, 2014)

Assume you sold the house to someone else for $400k. You and your ex husband would pay the debt owed to the bank ($140k) and split the profit ($260k). 

Let's say you turn around and buy the house back from the people you just sold it to for $400k. You put down 130k (your share of the profit from the sale) and finance $270k. 

Same $270k you are currently financing after paying your ex his half of the house


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## Bdowell116 (Jul 11, 2021)

Lila said:


> Assume you sold the house to someone else for $400k. You and your ex husband would pay the debt owed to the bank ($140k) and split the profit ($260k).
> 
> Let's say you turn around and buy the house back from the people you just sold it to for $400k. You put down 130k (your share of the profit from the sale) and finance $270k.
> 
> Same $270k you are currently financing after paying your ex his half of the house


That now makes sense when you put it like that. I want to keep the house for my daughter. I can make payments fine.


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## Livvie (Jan 20, 2014)

Do you think you alone would quality for a 270k mortgage?


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## Bdowell116 (Jul 11, 2021)

I would think. My credit score is almost 800 and I make 100k a year. I would hope.


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## Hiner112 (Nov 17, 2019)

Can confirm, with that income and that credit score (assuming there isn't a mountain of other debt) you could finance the house. Maybe not a 15 year loan but certainly a 30 year mortgage.


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