I'll keep this as brief as possible. In 2012 I bought my home for roughly $260K with a $60K down payment. I got married less than 6 months later. Today, I'm in the process of divorce, and the house is valued at $670K. House is in my name, and I've made all of the payments on it from my personal accounts and also a ton of extra payments towards the principal (I paid the existing mortgage down to $70K during those 8 years), however, the only amount considered separate property is the initial $60K I put into the home, with no appreciation or interest on that investment.
So to cash her out of the house, I will have to pay half of the total value of the home after subtracting the down payment and current mortgage. Which brings her portion to $270K... more than the original price of the house. I really don't want to sell the house but I'd have to start over, in a much worse position than when I bought the home, with a mortgage of $340K (versus the original $260K).
I have a lawyer and her response is basically "it is what it is". Is this what a court would consider a fair deal? I've suggested factoring what the closing costs would be into the equation because if I would have to sell my ex would essentially get half the community share without closing costs and my share would include it. Her lawyer does not agree. I live in washington.
Submitted April 22, 2021 at 03:12AM by DuffMan00789 https://ift.tt/32A5yrV
